Tuesday, March 10, 2009

Stimulus- Round 2

Well, that did not take long. Even though the Democrats did not exactly admit that the $800 billion stimulus could not or would not work, they might as well have admitted it.

Now we move on to the stimulus, round 2.

"We are going to need more taxpayer money upfront. I think another stimulus package is a reasonable probability the way things are going," Zandi told reporters after the meeting.

Boy- that statement sure takes the wind out of you, huh?

The lies!

Oh by the way, the 4 million jobs promised to be saved or created by the end of 2010, that is not going to happen either.

President Obama has repeatedly said the $787 billion stimulus plan passed by Congress last month would save or create at least 3.5 million jobs. But today House Democrats heard a sharply downsized prediction: 1 million fewer jobs.

Truth be told, Obama was actually promising 4 million jobs, just two months ago. Did you think we would forget. For heaven's sake, he made the statement only two months ago!

Jan. 10 (Bloomberg) -- President-elect Barack Obama said his two-year plan to boost the U.S. economy will generate as many as 4 million jobs, higher than his previous estimates, the biggest portion of them in construction, manufacturing and retail.
Of course, as recently as last Friday, Obama was promising 3.5 million jobs:

"Altogether, this recovery plan will save and create more than 3½ million American jobs over the next two years," Obama said in a speech in Ohio Friday.

So, okay- we will go with the 3.5 million jobs saved or created. So the figure was only downsized Obama's prediction last Friday by about 28%.

Okay- so where are we at since our new leader was elected:

1. The automakers received a bailout in December of about $14 billion dollars. It is only early March and they have already been back up on Capitol Hill asking for another $17 billion or so.

2. Barack Obama has already called for and received the remaining $350 billion of the $700 billion bailout of the Bush bailout of banks(TARP). The man Obama handed it to, Timothy Geithner is confused. I mean, really really confused. The Fed did manage to give another $30 billion to AIG. How much more have they been promised? We do not know, it is a secret. Shhhh!

3. Obama's budget for 2009 to 2010 calls for another $755 bailout of the banks. TARP II here we come!

4. 4 million jobs would be created, revised down to 3.5 million jobs that would be created, revised down to 2.5 million jobs created.

5. Stimulus package- about $1.2 trillion after interest. Yes folks that is $1,200,000,000,000. We find out today, much like I predicted, that this will not be nearly enough, more money is needed.

6. $410 billion Omnibus bill that passed this evening, chock full of the earmarks(pork) that Obama promised to veto during his whirlwind campaign. The $410 billion only gets us through the month of September!

7. The one year budget starting on October 1st? That is another $3.55 trillion. Yep, that is $3,550,000,000,000.

Who is going to pay for all of this? Why, the rich people, of course! (Even if we take every dime the rich people have, that is not nearly enough to pay for all of this stuff).

Even with all of this crisis stuff happening around us, what was Obama doing today? Pandering to educators. Promising more money, of course.

Okay, then...How about yesterday?

Expanding Stem cell spending, even though it is totally unnecessary.

Today officially marks President Obama's first 50 days in office!!!!

50 days! Can you imagine what the next 50 days will bring us?

Oh boy, I am getting dizzy.

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