THE OPPOSITE OF 'STIMULOUS'

I've been waiting with baited breath for this week's U.S. unemployment figures to come in. A lot is at stake for the Obama Administration. One of the first acts of office that Barack performed was pushing the passage of the American Recovery and Reinvestment Act of 2009. It cost the taxpayers of this country an unbelievable sum of $787 billion. At the time President Obama told us it was an important piece of legislation to stem the unemployment problem. In fact, he claimed it would create 4.1 million jobs. Without it, we were warned, unemployment would soon be over 8%. With it, it is now 10% and we have lost an estimated 3.3 million jobs.

Every since I was a little kid, I have been taught, by Liberals, that the government can create jobs in the public sector and improve the standard of living for all Americans. They have always based their theory on the success (?) of Franklin D. Roosevelt after the Great Depression. The Work Programs that FDR produced, they claim, brought us out of the Depression and lead to the largest expansion of wealth and growth in the history of the U.S.. I have always been a sceptic of this idea, however, I left the possibility open in my mind that they may be right. I now believe that they are dead wrong.

Maybe it's the way that they have applied it that is the real problem.

FDR created his Work Progress Administration at a time when unemployment in the U.S. was at an all time high. Therefore, there was very little displacement of work from the private sector. Furthermore, FDR had as the centerpiece of his programs....WORK. The only exception was his establishment of Unemployment Insurance in 1935, which at least went to people willing to work. The Obama Administration seems to be more obsessed with giving money away than making people work for it. In Detroit, for example, money was literally handed out to people required only to prove need and stand in line. (Watch the video!) Other money was handed out to people for buying cars, or houses. More money was funnelled into State coffers to fill in budget gaps. The one thing no one was required to do to get the money, was work for it.

The end result?

We have now registered the second biggest job loss in the history of Labor statistics going all the way back to 1948. The #1 biggest? 2008, by only 1/10 of a percent. We have now lost an additional 2.3% of our workforce in just 2009 alone. Add to that a shrinking dollar, looming inflation and stagnant wages and it's very hard to see what we got for our $787 billion.

However, I should note that Wall Street had one of it's best years ever! Yea for the rich getting richer while the working class increase their debt.

Now, I have said that I would give the Obama Administration 2 years to turn this recession around (it did, after all, take Reagan that long.). And I stand by that statement. But when you say, as Obama did, that $787 billion would stem unemployment, create jobs and save the working man. You had better come through. So far all I have seen is the situation get worse and worse for the average guy-on-the-streets while Wall Street is running off with the money. It cost us a hell of a lot, but at least one Liberal lie is being put to rest in my mind-that you can turn the economy around by throwing money at it. Obviously, that didn't work. We already know that tax cuts for the wealthy can help, but how about this untried approach, Mr. President? Tax cuts for the Middle Class. The people you've so far only tried to burden even more. H.C.