Obama – Stimulus Saved Us

Posted: 17th February 2010 by Scott @ The Right of a Nation in General Politics

According to Reuters, Obama is stating that the ~$787 billion stimulus saved America and prevented our economy from going into a depression.

As proof, he said “it had created or saved 2 million jobs”, and he attacked “Republican critics who doubt its effectiveness.”

In response to that, I’d suggest reading my previous post at The Right of a Nation – 1/13/2010 – White House to basically make up new job creation numbers, especially where I quoted the AP when saying

“That means that any stimulus money used to cover payroll will be included in the jobs credited to the program, including pay raises for existing employees and pay for people who never were in jeopardy of losing their positions.”

  1. When you have the government pump borrowed money into the economy, don’t forget that in the act of borrowing you are also withdrawing that same amount of money from the economy. $X in and at the same time $X out. You only improve things if the money withdrawn is put back in a more productive use than it would have been put by those who loaned the money– and sufficiently more productive to more than cover the interest bill for the borrowing. You can’t make the water rise in a swimming pool by taking buckets of water out of one end, and then dumping them back in at the other end.

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