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  • CNN Poll: 3 of 4 Americans Say Stimulus Wasted

    This weekend three different White House advisers speaking on three different Sunday shows gave three different answers as to how many jobs President Barack Obama’s $787 billion stimulus had been “created or saved.” This coming just two weeks after the White House issued a memo supposedly ending the administration’s use of the jobs “created or saved” phrase. And that memo was inspired by several dozen reports that many thousands of the jobs the Obama administration had claimed were “saved or created” by their stimulus were entirely fake.

    So really it should come as no surprise that the American people have come to believe that the Obama stimulus has been a massive waste of resources. CNN reports:

    Nearly three out of four Americans think that at least half of the money spent in the federal stimulus plan has been wasted, according to a new national poll.

    A CNN/Opinion Research Corporation survey released Monday morning also indicates that 63 percent of the public thinks that projects in the plan were included for purely political reasons and will have no economic benefit, with 36 percent saying those projects will benefit the economy.

    Twenty-one percent of people questioned in the poll say nearly all the money in the stimulus has been wasted, with 24 percent feeling that most money has been wasted and an additional 29 percent saying that about half has been wasted. Twenty-one percent say only a little has been wasted and 4 percent think that no stimulus dollars have been wasted.

    When President Obama was selling his stimulus to the American people his White House Council of Economic Advisers released a report promising that if his plan became law, unemployment would never go higher than 8.2% and the U.S. economy would support 138.6 million jobs by December 2010. In reality, unemployment is still at 10% and President Obama is 7.7 million jobs short of his promise. Heritage Foundation Senior Policy Analyst Brian Riedl explains why:

    Congress does not have a vault of money waiting to be distributed. Every dollar Congress injects into the economy must first be taxed or borrowed out of the economy. No new spending power is created. It is merely redistributed from one group of people to another.

    Yes, government spending can put under-utilized factories and individuals to work–but only by idling other resources in whatever part of the economy supplied the funds. If adding $1 billion would create 40,000 jobs in one depressed part of the economy, then losing $1 billion will cost roughly the same number of jobs in whatever part of the economy supplied Washington with the funds. It is a zero-sum transfer regardless of whether the unemployment rate is 5 percent or 50 percent.

    The government rarely receives good value for the dollars it spends. However, stimulus bills provide politicians with the political justification to grant tax dollars to favored constituencies. By increasing the budget deficit, large stimulus bills eventually contribute to higher interest rates while dropping even more debt on future generations.

    Posted in Economics [slideshow_deploy]

    17 Responses to CNN Poll: 3 of 4 Americans Say Stimulus Wasted

    1. Alice Martin, Huron, says:

      Who on earth are the 25% that think it wasn't wasted? What do they think it was spent on…saving or creating those two million jobs. Do they know any of the people in those new…or saved…jobs? Everyone knows it's bs and every single time the president or his minions come on tv and says they saved those jobs, everyone rolls their eyes. Then they tell you that insuring millions more people will cut our deficit and we roll our eyes. We're ready to roll our eyes during the State of the Union…we don't believe you anymore.

    2. DJ Filak Bisbee Az says:

      Alice, Those are the ones who received big bucks from the stimulus program, and don't have to worry about paying it back, thanks to their "Good Buddy" Obama.

    3. Lorraine Driskell, O says:

      Every word out of Obama's mouth is a lie….he cannot keep cobering up..the truth will find him out! But what amazes me is how some, in the light of this, still defend him….this is very perplexing.

    4. WVaJane says:

      When is Obama going to quit campaigning, or as Pelosi explained, lies are just "campaign talk" [and do not mean anything].

      Isn't it time, it stayed the Oval office and got some work done? Do wonder so many important posts remain unfilled. Instead of political pay-offs, I wish Obama would quickly fill those posts based on education and EXPERIENCE in the subject matter.

      Lame Duck Obama, how could I have know when I voted for him…….

    5. Andrea - florida says:

      This was a bold attempt of premeditated murder of our country! We all knew this wouldn't work.

    6. Lou, Tucson, AZ says:

      The only reason for the so called Stimulus was political payoffs to labor unions and other big time progressive donors. Government does NOT "create or save" jobs, unless it's GOVERNMENT jobs we are talking about. Those jobs have increased dramatically. How's that "hope and change" working for you?

    7. Don, Bismarck, ND says:

      And they continue to want to force their stupidity on us. obama needs to pack his bags, have his cabinet do the same and head for Venezuela where they will be appreciated.

    8. RightWinger says:

      Lou, you hit the nail on the head! Not only are the government jobs increasing, their rate of pay is absolutely ridiculous! The Dem's Stimulus stimulated the bureaucrats bank accounts. Now, I HOPE I find another job because unemployment hasn't left any CHANGE in my pocket.

    9. Bobbie Jay says:

      The weak defend obama. Those who can't think for themselves, defend obama. obama stated firmly "we need to sacrifice" yet obama and his employees make more then the private sector as obama and his employees SACRIFICE NOTHING but everyone elses hard earned money! HYPOCRITES AND AUTHORITY ABUSE!

    10. shamus uk says:

      there will be a vote of no confidence to get him out soon. 4 years to be a great president haha.dont make me laugh ,oh can i return my nodding obama head ..goodnight oh and i wish he'd take gordon brown with him as well .

    11. Pingback: CNN Poll: 3 of 4 Americans Say Stimulus Wasted

    12. Ron Derry NH says:

      Actually I think the 25% are correct as it took that much money to wake America up to its idiocy for blindly voting out of anger for a man who has no qualifications what so ever to run a candy store never mind a country.

      My grandfather said "you can pay a college to get smart or you can quit school and go learn it the hard way, either way you're going to pay".

      Well America, we are paying for the lack of smarts that logic warned us, and the conservatives too that this guy was unfit to run our country. Now we must all pay to be educated on the reasons why you don't allow HOPE AND CHANGE to dictate the survival of a nation…especially when no one labeled what those hopes and Changes were.

      It's a small investment to educate the country on the magnitude of its arrogance and blind faith that a man who has never proved his worth can be trusted to run a country.

      Stupidity costs every one.

    13. D.Ellison Tucson Ari says:

      Yes, I too, would like to know who this 25%, who believe none of the money was wasted, are. Surely, it can't be government workers? The ones with the only secure jobs in America. We are now edging toward his true goal of redistribution of wealth. Sadly, that redistribution takes money from the poor and middle class and funnels it into big banks, making them bigger and providing them with the tools to totally ruin American freedoms. Health Insurance companies cannot even begin to compete with these behemoths. The 2% profit made by insurance companies is no where near the 180% profit banks are making. I don't hear about insurance companies handing out billion dollar bonuses, but I sure hear about the banks and their stupid reasons for giving these little pea-brained CEOs billions.

    14. Steve Cariati Albany says:

      You better HOPE you have some CHANGE when we are done with his policies. Also we all better HOPE he has not CHANGED our country beyond repair.

      Obama and his Administration are very aware of what they are doing. Make no mistake they never intended to put the $500Billion of TARP paid back by the evil banks into the Treasury. He is spending it to enrich the unions and grow more government. These folks are all about showing us how Government spending and programs are what we-the uninformed-need to set this country aright. They are ideologues bent on Socialist policies to correct the evils of capitalism. To wit their programs: Cap and Tax;Healthcare reform;Financial Industry reform/bashing;class warfare incrementalism at each turn;lies/dissemination out of Obama at his speeches;reduced Border patrol $ for Homeland yet increased Homeland Management folks;apologies around the world;bowing to Saudia Arabia's king;bowing to the Emperor of Jan;reneging USA commitment to place missile in Eastern Europe; nice nice with Hugo Chavez, Manuel Ortega. I cannot keep listing as I am getting sick to my stomach. To all who voted for an unknown fraud that the mainstream media never unearthed as is their job, never forget. Voters must do their own digging to get the truth as we no longer have true journalists any longer-beter to call them" Liberal Agendists." Support your candidates this fall, vote out all Dems in the House and we might just start to get our country back. However the Debt damage is done and our children and Grandchildren will pay for this disaster of a President for generations. God Bless America-we need your help.

    15. Ron Thompson says:

      Did you know that 1/3 of the sitimulus bill has been used! So were is the remainder of the bill and why are we asking for another one? the reason, the missing 2/3s is the slush fund that the president is using to prop up his friends and political allies. it has nothing to do with jobs or the economy at all. this is a deliberate act to destroy the country. When people say; don't depend on America anymore for any type of reliablity, we have a big problem. It's all in Obama's plan!

    16. Pingback: Morning Bell: Second Stimulus, Same as the First | The Foundry: Conservative Policy News.

    17. Pingback: Morning Bell: Second Stimulus, Same as the First | Step Down Obama

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