Federal Stimulus Program is Not Working… Except That It Is

Posted by LibbyShaw

VP Joseph Biden greets construction workers after delivering a speech in Kalamazoo, Michigan

The Republicans and their water carrying blustering blowhards in the conventional wisdom alternative universe bubble have been frantically working 24/7 to fabricate the perception that the federal stimulus program is not working.

Those Americans who reside outside the Republican and conventional “wisdom” bubble, i.e. Joe, Jose, Jane, Yolanda, Chen, Hui, Omar and Laqueesha (to name a handful) have a far different view of the federal stimulus program.

It seems that Republicans and the Party’s blowhards ignored the recently released Congressional Budget Office report. Or perhaps the Republicans and its tools did not like what they read. Yikes, this stimulus can’t work or we are dead. Change the message! If the government works we lose! No matter what, kill off any good news about the stimulus program! Who cares what happens to the average Jane and Joe Americans? WTF are they?! This is all about us and our ability to stockpile as much money for ourselves as we can! Heaven help us! Change the bleeping bleepity bleep message! Jeeze oh Pete – gin up a freaking war if need be!

The nonpartisan Congressional Budget Office said the $787 billion stimulus package approved in February lowered the nation’s unemployment rate by between 0.3 and 0.9 percentage points while boosting the economy by between 1.2 percent and 3.2 percent. The analysis also found that three-quarters of the money provided in the stimulus had yet to be funneled into the economy by the end of September.

The report is a boost for the administration, which faced renewed questions last month over how many jobs the stimulus has produced after the Government Accountability Office said it found “significant” problems with the White House’s tally. The administration has estimated the stimulus created or saved 640,329 jobs through October.

The report released yesterday “leaves no doubt that the economy would be in much worse shape if the recovery act had not been implemented,” said House Education and Labor Committee Chairman George Miller, a California Democrat. “As the Obama administration and Congress continue to explore additional strategies to create jobs and build a foundation for long-term economic growth, it is critical to acknowledge the progress that has already been made.”

But Republicans, especially Texas Republicans and their propagandists at FOX seem to have a problem with facts that the party and its spin meisters do not manufacture.

Sigh. Oh, how we tragically know all about the GOP and its fiscal irresponsibility with its tax cuts for the 1 or 2% of the wealthy, the deregulation of the financial and energy sectors, while waging war on two fronts. Tell us about a war of choice vs. one of necessity. Tell us why we took our eye off of Afghanistan to go looking for Al-Qaeda and WMD’s that did not exist in Iraq? Thanks, too, Louie and Sean, for leaving both wars on the back of a new Administration. And please do accept our deep and heartfelt thanks for your leaving both wars on the backs of the American people, our children, grandchildren and generations of our great grandchildren to come.

Reality check on the federal stimulus program.

Where Texas is concerned we have been awarded $10,680,470,000 in stimulus funding. So far we have received $1,826,240,000.

Jobs created so far: 19,572.

Check out the facts of the American Recovery and Reinvestment Act.

The so-called conventional wisdom sounds like a bunch of conventional self-serving lying and hysterical stupidity to me.

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5 Comments

Filed under Bad Journalism, Bailout, Banking, Barack Obama, Bill O'Reilly, Congress, Conservative, Creepy right-wing antics, Economics, Economy, Fox News, Glenn Beck, Governors, Jobs, Media and Entertainment, Money, Mortgages, Partisan Politics, Politics, Pres. Barack Obama, Republicans, RNC, Sean Hannity, Senate, Small Business, Stimulus, The O'Reilly Factor, TV Shows, United States, Video/YouTube

5 responses to “Federal Stimulus Program is Not Working… Except That It Is

  1. Democrats have been as loud and as obnoxious as any Republican in calling TARP and the stimulus package a “disaster” in fact Huffington Post has been pounding away daily with their chicken little headlines.

    The negative spin will continue, no matter what.

    • LibbyShaw

      Thanks, GeoT. Huffington Post is really getting on my nerves these days. And so are conserva-Dems. Why don’t they just call themselves Republicans Lite?

  2. and BTW as for the “bailout”: over on another blog I said, at the time, that these were essentially equity investments in the banks and that they could very well turn a profit if things improved enough. We (taxpayers) received equity in the form of preferred shares for our emergency funding of the banks.

    and guess what? I was right.

  3. It’s also important to remember that most of the stimulus money hasn’t even been spent yet. Which means that not only is the stimulus program already having a big impact, it is going to keep having a positive impact for several years to come.

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