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  • Morning Bell: Holding the President Accountable on His Stimulus

    Yesterday, the White House released new rules for counting the number of jobs created by President Barack Obama’s $787 billion economic stimulus plan. Governors, mayors, and contractors will be required to keep track of every full-time, full-year job funded by Obama’s stimulus, but they are not required to submit their data to the federal government until October of this year. White House budget office deputy director Rob Nabors told the AP: “If governors or mayors or contractors make up numbers, it’s not going to take long for that to come to light.” But what about Vice Presidents? If this data isn’t even going to be collected until October, then why was Vice President Joe Biden running around the country earlier this month claiming Obama’s stimulus “has already created 150,000 jobs around the country.” Talk about making stuff up.

    The Obama administration’s newfound commitment to accuracy in stimulus job counting comes at the same time that Americans are rapidly losing faith in the effectiveness of his stimulus plan. The Washington Post released a new poll today showing that “barely half of Americans are now confident that President Obama’s $787 billion stimulus measure will boost the economy.” The Post continues: “What was once a clearly positive assessment of the program among independents (56 to 39 percent) is now an almost even split (50 to 47 percent).” The poll also identified some of the reasons more Americans are losing faith in the $787 billion deficit spending plan. Almost nine in ten Americans say they are “very” or “somewhat” concerned about the size of the federal deficit, and independents now say they favor smaller government with fewer services to a larger government with more services by a 61% to 35% margin. That is compared to a 52% to 44% margin a year ago.

    The markets have also been casting a vote of no confidence in Obama’s economic policies. Bond market “vigilantes” – those major institutional buyers of government debt impervious to soaring rhetoric and political promises – have reawakened and want to see concrete steps toward getting the $2 trillion deficit under control. The effect of the projected massive government borrowing, however, is to drive interest rates as much as a full percentage point higher yet. This will mean higher interest rates for consumer loans, mortgage loans, business loans, etc. Instead of a 6.5 percent mortgage rate, home buyers will face a 7.5 percent rate. The debt-based Obama economic stimulus plan is about to become a major drag on the recovery.

    And there is no end in sight to the federal government’s profligate spending. The two leading health care reform bills that have been scored by the Congressional Budget Office (CBO) weighed in at $1 trillion and $1.6 trillion. And on top of adding one of the most expensive new entitlements in American history, Congressional Democrats are planning to increase discretionary spending by another 8% this summer.

    When selling their economic stimulus to the nation, the Obama administration set a clear benchmark of 138.6 million jobs in the U.S. economy by the end of 2010. According to the Bureau of Labor Statistics, the U.S. economy currently employs 132.2 million people. The President has 6.4 million jobs to go.

    Quick Hits:

    Posted in Ongoing Priorities [slideshow_deploy]

    30 Responses to Morning Bell: Holding the President Accountable on His Stimulus

    1. Richard Cancemi, Arl says:

      By the time Obama is through with his "plan", America will be relegated to history. All of his rhetoric means nothing. His one goal is to replace traditional America with a socialist state.

      No more USA! WE will be one of the USSW, United Socialist States of the World!

      IMPEACH!!!

    2. Ben C, Ann Arbor, MI says:

      If Dick Cheney was the "most dangerous" Vice-President, the Joe Biden has to be the "dumbest" even surpassing Al Gore.

    3. Ozzy6900, CT says:

      The Market and the Conservative Movement can balk all it wants, it is the People who need to be convinced, most of which are memorized by the messiah every time he opens his mouth! Add to that the Media is in love with this guy and will not televise or print anything that shows President Obama failing in anything. The President is well insulated by the Media because anything that goes wrong is automatically someone else's fault in the administration or President Bush's fault. The President has defied the law in many cases, one of which was even his own bill! Nothing is allowed to touch this man!

    4. Scotty Bragwell says:

      Why is all of the recovery money going to companies that already have contracts? I work in the A&E design world and 90% or all recovery design contracts are not open for competition. They are open for contractors who already have exisitng contracts. How does that stimulate the economy. It only provides more fat for those who already have a similar contract. Plus with no competition, how is government getting best price. They are not. Can anything be done about this?

    5. jim smith says:

      All of this command & control is intentionally misleading, but that is who Nobama is. Any number on job changes is, on a very good day, vague and without real substance. The ABC socialist, network fandango tomorrow night is another example of Nobama's trip to "Transparancyland". Every day, he asks Rahm to, once again, read aloud, the definition of transparancy. Dutifully he reads the definition of "opaque". Then, everyone is happy.

    6. Whicket Williams Kin says:

      What ever happened to the 139 billion in bonds? real or fake?

    7. Ken Jarvis - Las Veg says:

      I wish someone would tell me why the

      GOP, Cs and HF HATE Acorn so much.

      Thanks

      LVKen7@Gmail.com

    8. sandy arizona says:

      Why not put a freeze on govt spending? Would that help?

    9. Paula Dardin, Alamog says:

      Have you heard about the new medicare rule that says Oxygen providers can be paid for oxygen by Medicare for 3 years and then they have to "eat" the next two years. they cannot bill the patient. I guess they are hoping the patient DIES after the 3 years!!!! I am on oxygen and am having a hard time finding a provider!!!!! Let me know what you know!@ Thanks

    10. A. Terranova, Ormond says:

      If the job creation numbers aren't posted until October, then Mr. Obama can continue to hammer home his wanton desire to implement his outrageous plan to socialize ALL medical care in this country thereby increasing our deficit and our national debt on an exponential basis – in other words into perpetuity! Just like ancient Rome, we will fall and it will be our own doing because we failed to acknowledge this simple, obvious fact: Mr. Obama and his minions are out to destroy our sovereignty with out of control spending. Once we become a nation of paupers, then who will rule us? Take your pick but I can assure you it will not be us.

    11. ken -Santa Barbara says:

      The good news for Obama is that his approval ratings — 57 percent in a Gallup tracking poll over the weekend — remain comfortably high by historical standards for presidents.

      http://www.politico.com/

    12. ken -Santa Barbara says:

      The Washington Post released a new poll today showing that “barely half of Americans are now confident that President Obama’s $787 billion stimulus measure will boost the economy.”

      Yet it also states

      The tempered public outlook has not significantly affected Obama's overall approval rating, which at 65 percent in the new survey outpaces the ratings of Presidents George W. Bush and Bill Clinton at similar points in their tenures.

    13. Jake, LHC says:

      Lies, LIES, LIES, are what obamas foundation is made of.

      You think obama was being a whiner and a crybaby about FOX NEWS Reporting the Truth. Wait till the other networks turn on obama the LIAR. He will get everything he has coming and he will be crying I didn't know marxism would fail in the USA.

      obama we don't want your frankie the communist, billy ayers the terrorist, of rev wright I hate America radical ways.

      We can count obama we don't need a bunch of foney radical democrats telling us we have stimulus jobs when we are out of work.

    14. PB in Georgia says:

      ACORN changing its name is a joke. Community Organizations International (COI) should be called Criminal Organizers International (COI). A rose by any other name is still a rose….or in this case a rat by any other name is still a rat.

    15. Nelia, AZ says:

      Why is ACORN hated? Because of the corruption at its head and within. It is quite possibly a gigantic money laundering front. No accountability and workers who question are quickly out and even threatened. They are the source of this information….and yet money continues to be funneled to this organization as part of stimulous packages.

    16. don st joe, ar says:

      HOW MANY TIMES DOES OBAMA HAVE TO REMIND US THAT HE IS THE PRESIDENT–HE CANT GIVE A SPEECH WITH OUT ANNOUNCING THAT FACT. WHICH MAKES ME CONCLUDE THAT HE DOESNT QUITE BELIEVE IT HIMSELF. HIS PRIORITIES FOR SOLVING OUR PROBLEMS MUST HAVE COME OUT OF ALICE IN WONDERLAND. THATS WHAT COMES FROM A COMMUNITY ORGANIZER DEFINITLY NOT PRESIDENTIAL CALIBRE.

    17. Jim@Redding,CA says:

      Too many of you talk indignantly about all

      that's going on, but are any of you DOING

      anything about it? People need to get to-

      gether and form taxpayer's unions (like they did back in the '70s), place their tax dollars into a "union account" in the

      amount of their tax bill, and tell the government we're not giving them what they

      want till they LOWER TAXES. If enough of

      you do that, what can the government do?

      There are surely not enough prisons to put

      us all in them… It's far past time for

      TRUE AMERICANS TO ACT! Are YOU a true

      American, or do you just talk like one???

    18. Dennis A. Social Cir says:

      Hope and change, that is waht he ran on, well I hope the change does not bankrupt this country. If obama gets his way we will become a satellite of china and thus under communist rule. People need to remember that one of obama's key people has already stated that he [obam] would began his rule on 1/20/09. Guess he is off to a good start, we are in debt up to our eyes and getting deeper by the minute. The dems are bigger idiots than I orginally thought.

    19. Roy Reed, Las Vegas says:

      We now that obama hetes this country!! The government is afraid of not being voted back in!! This president doesn't care what happens to the USA. He and the Democrats are mall for BIG government!!. Why don't people wake up and see and read what they voted FOR!! All they saw was FREE this and that. You ask anyone under the age of 30 (most) about what is going on and all they say "Oh, I don't read the paper and I don't watch the news on TV." If they do it's NBC, ABC, MSNBC. They are in love with obama's speaking. It makes us and alot of other people sick!!! What's happening to our country is absolutely unspeskable!! It must STOP!!!

    20. Pingback: Morning Bell: Holding the President Accountable on His Stimulus » The Foundry « Snow Report Blog

    21. Brad Raffensperger, says:

      Shakespeare's Julius Caesar updated for a 2009 Liberal Politician in a moment of honesty,

      "Friends, Americans, countrymen, lend me your wallets!

      I come to bury American under a mountain of debt, not to strengthen it.

      The evil that we politicians do lives long after we are run out of office,

      The good is squelched on the road to good intentions;

      So let it be with America."

      President Obama is certainly a likable man and has a winsome personality. Within the next 4 years the fruit of his policies will come home to roost and he will be judged on its relative merits or shortcomings. I believe the debt he is inflicting onto America is not sustainable and this bailout bubble will burst just like the real estate and dot-com bubbles that preceded it. One can hope that in 2010 we the people elect politicians who stand up for small government, honest taxpaying Americans, small business owners who want a fair shake, not a shakedown.

    22. Monte Evans says:

      It boggles my mind, how President Obama can stand in front of T. V.Camera and lie to all Americans and know that he is CLEARLY misleading,deceiving and speaking falsehoods. I now understand why he is so weary, his lies are keeping him up at night.

    23. Jake, LHC says:

      CCI stand for Crooked Criminals Incorporated by obama

    24. michael hutchings says:

      IN RESPONSE TO NEVADA;

      — ACORN IS AS CLOSE TO A PARA-MILITARY FORCE THIS COUNTRY HAS SEEN SINCE THE CIVIL WAR.

      — I DO NOT HATE ACORN BUT I THROUGHLY UNDERSTAND THEM AND THEIR MEDIA AUXILLARIES.

      —OBAMA IS AN EDIFICE THAT WILL HAVE TO COLLAPSE UNDER HIS OWN WIEGHT.

      —THE STIMULUS PACKAGE THAT HAS BEEN WHEELED INSIDE THE GATES AS A TROJAN HORSE WILL HAVE TO BE COUNTERED IN DEPTH BEFORE GREATER HARM IS DONE AND A PERMANENT LOWER AND MIDDLE CLASS, OF DECREASING WEALTH AND INCREASING POLITICAL POWER THROTTLES WHAT SPIRIT REMAINS TO RESIST.–

    25. Ron Thompson, Albuq says:

      Hold the president accountable? who is going to hold the president accountable? the congress sure isn't! the American people are as complacent with what the government is doing, so who has the guts to step up to the plate and go against the media and public opinion? nobody! if you are an average citizen you have about as much a chance of getting your word or thoughts brought out in public as a fly landing on the sun. this is the most frustrating of times, where the people you support don't support you, nor listen to you! Right now, there is no one who wants to or has the courage to hold the president accountable!

    26. Judith of The Great says:

      Well, Mr. Jarvis, You ask why the GOP, HF, etc. "hate" Acorn.

      Where to begin!!!

      Try voter registration fraud (under investigation of these charges in multiple states), voter intimidation, community agitation, money laundering, misuse of federal funds, and the list goes on and on.

      Don't just take my word for it. To get a complete picture of the corruption of Acorn, just "google" the name and find page after page of information from reputable sources. What you will find will stun even you, Mr. Jarvis. Is this what you want for The United States of America?

    27. Joe White, Quinton T says:

      Trusting the Empty Suit to tell the truth about the so-called "stimulus" is akin to polishing a dog turd- Naval expression. IF, one in one's infinite blind faith in nothing "think" that one is going to see actual facts, then one is deluded.

      As for "Acorn"- this is just the start of what this would-be king is going to try. Please recall his words during his advertising special ["campaign"]. He wants to create a- paraphrasing now- "national police force" with more power, better equipped, and better funded than the military."

      If foolish liberals who voted for him do not hear the pounding footsteps of the Brown shirts, the Red Brigade, the Carabonari, and the like, then may I suggest a remedial course in world history of the times prior to WW2. If I were a liberal Jew who voted for the Empty Suit, I'd ask my grandparents what it was like in Europe in the times prior to WW2—they always end up as the scapegoats for other's evil doings.

      Like it or not, the falsehoods regarding the "effectiveness" of the so-called stimulus are the prelude to his ambitions. After all, he is SO brilliant [without an ounce of common sense].

    28. Byren Stowe SLC, Uta says:

      Ive come to the conclusion that there are two kinds of liberals. There are the misguided who buy into the feel good rhetoric about the haves and the have nots, and there are the ones who KNOW that the liberal agenda is REALLY about power and control and they are ALL intellectually dishonest.

      These liars are exactly the kind of control freaks that our forefathers tried so dilligently to protect us from, and as such they cannot achieve their ambitions without poo-poo ing the constititution.

      The "new era of transparency" is simply another one of their lies, the so called "stimulus" package is clearly being used to garner more power and control. Everything Obama does is rooted in his own "poverty of ambition" and the un-american approach of his unbridaled and reckless self advancement becomes more apparent every day.

      We must reach out to the misguided and expose the liars for what they are. Enemys of the constitution and the antithesis of our founding principles. Tell your friends and family about the heritage foundation, tell them about conservative radio and other sources. The truth is a liars greatest weakness.

    29. Pingback: Morning Bell: The Obama Middle-Class Tax Hike is Coming | Conservative Principals Now

    30. Pingback: AntiObamaBlog.com » The Obama Broken Promise of a Middle-Class Tax Hike is Coming

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