One Year of ‘Recovery’

To mark the one-year anniversary of the American Recovery and Reinvestment Act, here are some of my previous posts on the less-than stellar results of the “stimulus”:

Also of note is this recent CBS News/New York Times poll showing that only 6 percent of people think the stimulus package has actually created jobs. So much for bringing “hope” to the people.

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2 Responses to One Year of ‘Recovery’

  1. […] Earlier this month, President Obama proposed using $30 billion in funds paid back to TARP by banks to encourage “community” banks to lend to “small” businesses. A key point to remember is that all of these endless funds politicians seem to always find to spend represent money that the federal government doesn’t in fact have (given the massive federal debt). Basic economics, however, tells us that it has to come from somewhere. It will eventually be paid for through more inflationary money printing, increased debt or higher taxes — none of which are good for an economy in need of recovery. […]

  2. […] Earlier this month, President Obamaproposed using $30 billion in funds paid back to TARP by banks to encourage “community” banks to lend to “small” businesses. A key point to remember is that all of these endless funds politicians seem to always find to spend represent money that the federal government doesn’t in fact have (given the massive federal debt). Basic economics, however, tells us that it has to come from somewhere. It will eventually be paid for through more inflationary money printing, increased debt or higher taxes — none of which are good for an economy in need of recovery. […]

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