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  • Morning Bell: Why the Obama Stimulus Failed

    Today, President Barack Obama will attend a groundbreaking ceremony in Holland, Mich., for a South Korean-owned factory that will make batteries for electric cars. The purpose of the trip is to highlight the “success” of the President’s $862 billion economic stimulus package which the White House claimed yesterday has already “saved or created” 3 million jobs. Specifically, this factory is being subsidized by $151 million of stimulus funds from an even larger $2 billion honey pot of stimulus money set aside for electric car battery investments. This one plant is expected to employ 300 workers. That works out to more than $500,000 per job created. $500,000 per job. This plant, in a nutshell, explains why the President’s stimulus plan has been an objective failure.

    The American people know the President’s stimulus has failed. A new CBS poll out today shows that 74 percent of Americans believe the Obama stimulus either damaged the economy or had no effect. And a Washington Post poll released Tuesday again showed that a majority of Americans disapprove of President Obama’s handling of the economy. So how on earth can the White House claim they “saved or created” 3 million jobs? By rerunning the same economic models that predicted the stimulus would prevent unemployment from ever rising above 8%. That’s right. The White House’s 3 million jobs number is not based on any real world data.

    So what does the actual objective real world data show? When the President first began selling his stimulus plan to the American people in November 2008, he promised it would create 2.5 million jobs. But as employment fell at the end of 2008, President-elect Obama increased his employment promise by one million to 3.5 millions jobs created. At the time, employment stood at about 134.3 million. Using these two data points, one can objectively establish the Obama jobs target for December 2010 at 137.8 million. Fast forward to July 2010 and the latest jobs report shows total U.S. employment at almost 130.5 million. This means President Obama’s stimulus has failed to meet its own standard for success by 7.4 million jobs.

    Why has the President’s $862 billion stimulus failed by 7.4 million jobs? Because government spending does not stimulate economic growth. All it does is move resources away from one sector of the economy to another. And government has a horrible track record at efficiently allocating resources. All that really happens is that, on net, jobs get destroyed in the transfer process.

    That brings us back to Holland, Michigan. Maybe this new battery plant is worth investing millions of dollars in. Maybe it will eventually turn a profit. But maybe not. The issue is, “Why is this any of the government’s business?” We used to be a capitalist country. We’re supposed to have vibrant capital markets that make these decisions using market principles. Instead we have the Obama administration acting as a venture capital fund picking winners and losers not based on economics, but on political priorities (in this case global warming).

    And this is where the President’s war on the rule of law and audacious domestic agenda come into play. The White House claimed yesterday that the Obama stimulus has encouraged $280 billion in private sector spending. The facts do not support this. In reality annual private fixed nonresidential investment has fallen by $327 billion since the recession started— a 19 percent drop. Businesses are not investing because of the vast economic uncertainties the Obama administration is creating.

    Will secured creditor contracts be honored in court? Or will the Obama administration rip up those contracts? How much does it cost to hire a new employee? No one will know until thousands of pages of Obamacare regulations emanate from the IRS and HHS. How much will energy cost? That depends on how draconian the Obama EPA global warming regulations are. What are the rules for financial markets? You better have the cash for an army of good lawyers, because the 2,300-page Dodd-Frank bill touches every aspect of financial markets and requires 243 new rule-makings by 11 different federal agencies.

    The Obama administration’s massive spending and regulatory expansion is not helping economic recovery. It is actively thwarting it.

    Quick Hits:

    UPDATE: The original version of this post reported the Obama jobs target as 138.6 million jobs based off of BLS data that showed 135.1 million jobs in December 2008. In January 2010 the BLS revised down the Decemeber 2008 count to 134.3 million. So the updated Obama jobs target is 137.8 million and the 7.4 million jobs gap total is correct.

    Posted in Ongoing Priorities [slideshow_deploy]

    92 Responses to Morning Bell: Why the Obama Stimulus Failed

    1. Robert, Louisville K says:

      Yersterday I noticed a sign saying I was entering a "work zone" which was being paid for by stimulus money.

      It is true the street needed to be fixed and a sidewalk needed to be installed, especially with our narrow KY roads, but why should the good people of Minnesota or Michigan pay for our road projects with their tax dollars?

      I don't even know if it created any long-term real jobs!

    2. Anthony Lawrence Pis says:

      I trust that Heritage is keeping a list of all the legislation, executive orders and executive department edicts that have been put into effect by this administration and congress so that we can begin to reverse them when the new term starts next year.

    3. Bellmawr, NJ says:

      More symbolism over substance. This joke of an administration is about nothing more than the aqcuiring of power while simultaneously acting as if they are actually accomplishing something of lasting value. More smoke and mirrors in contrast to real solutions but the situation will be retified, come November. A tough lesson for America to learn but for that reason, one that she'll be less likely to forget.

    4. parabellum, The Old says:

      $500,000 per job with a salary average of $50,000 (estimated). That's central government efficiency. That's what we call a command economy. Comrade Ubama needs to issue his five-year plan.

    5. Pete Kleff, Cypress, says:

      Like most fools, he believes himself.

    6. Dennis Weidus, Baton says:

      A big fat waste of money! If the government would quit wasting taxpayer dollars, people would buy things with that $$ and jobs would be created naturally!

    7. Mary M says:

      It is not up to government to create jobs for anyone at any time. Let free enterprise reign by not committing legalized plunder by taking from one to give to another. Picking winners and losers by excessively taxing individuals and businesses is killing free enterprise for the benefit of a few gov't hand-picked enterprises is not within governments enumerated and limited powers. Therefore BIG BROTHER gov't is violating the RULE OF LAW.

    8. Steven Coy Westminst says:

      Obamanation has to be stopped and the New Communist party too. We need this idiot to show he is an American citizen or force him to resign. As a Nation mwe cannot afford to have the most incompetant President in our history to remain in office any longer. If he will not prove he is a legal American citizen and he won't resign we should start Impeachment proceedings immediately for the many crimes against our Constitution. Where are the Republicans? The silence is deafening! When will the Conservatives make their and the peoples voices Heard???? No-one should be allowed to circumvent our Constitutional Law reguarding being an American born Citizen to become president, he must prove he is an American Citizen, John McCain had to produce a real legitimate Birth Certificate not one that anyone can get from Hawaii. Why is a President allowed to keep secret ALL of his records from the people of America? Perhaps he really is the Manchurian Candidate, judging by the people that he has chosen to run with, all America hating Communists, Radicals, Black Panther Racists and don't forget Weather Underground, his radical Preacher and Black Radical Muslim Farakan who Hates Whites and America. Time for all Americans to stand up and be counted. If the new Black Panthewr Party wants to Kill Whites lets get it on, we outnumber you 5 to one and we are all gun owners, so when you threaten to kill us what do you think the outcome will really be you Morons?

    9. Bill says:

      Who can't start a business if the government gives them $500,000 per employee?

    10. KansasPatriot says:

      This Administration has taken the Sol Alinsky adage "If you tell a lie often enough, it becomes the truth" to a new extreme. They were lying when they passed their agenda and they are still lying.

    11. KB in PA says:

      Perhaps our best hope (until November) is to continue to watch (and report!) as the author of "The Audacity of Hope"** keeps overplaying and overplaying his hand … until finally even the most willfully blind and deaf among his advocates … even they! … have to hide their faces in abject embarrassment of his psychotic "audacity."

      ** Would someone please write "The Audacity of Deceit," so as to set the record straight? … or better yet, create a hard-hitting video? … a simple litany contrasting all the things he said while still just a peddler on the road, with all the things he has done since the day he managed to hustle and strongarm his way into the house, with nothing more in mind than to terrorize and brutalize its occupants?

    12. Mary, WI says:

      I see the perfect storm brewing. At one end is BO, administration and the democratic party and their foolish, destructive policies and at the other end are the militant blacks of this country calling for the death of "crackers and their babies". In the middle are the American people wondering what the heck happened to their country and WHAMO! we are attacked by radical muslim groups because we have become so weak and divided. Fine mess BO has created for this country.

      Businesses should not be held to blame for the economy with so much uncertainty for them down the road. They're only looking out for survival….some will go out of business, some will persevere. This country is so volatile right now.

    13. Robert N Ivy; Dawson says:

      Maybe if we got rid of all the government just added jobs reduced the Congress pay by about 5% and asked all to serve for the rest of their terms for nothing, we might find out just what kind of representatives we have sent to Congress. Oh, and we could then recend the Health reform act and let free enterprise take over the medical profession. Then we could purge the rolls of welfare and get only true citizens. This might help a little while.

    14. Jan Bratcher, Newpor says:

      An excellent analysis by Mr. Carroll. What baffles me most about the Obama administration is the fact that they do not understand basic economics, continue to remove jobs from the American economy, and have the lemming Democrats to feast on the deceitful feedbag.

      The most recent example of American companies leaving the fold are the drilling rig concerns that have started an exodus to Egypt and other foreign waters. There is absolutely no evidence that other deep-water oil rigs pose any danger to the American coastline. As tragic as this enviromental disaster has been to Louisiana and other coastal states, the long term consequence of losing high paying jobs that have collateral related jobs that fuel the economy further worsen the outcome.

      What can be the rationale behind these foolish policy decisions? The only reason I can come up with is the Obama wants the government to control every aspect of American life. I pray that November mid-term elections will put the plug in this draining of American talent and start a rebirth of our contribution to the world economy.

      • tycius says:

        you should be ashamed of yourself for what you said. tighenting laws to prevent disasters like that is a no brainer to most protecting the environment for the sake of some jobs is not a decision at all.

    15. MAJ Mike, San Antoni says:

      Our country is descending into "Crony Capitalism". Insiders get the blessing of our central government and free market capitalism is beaten and pounded into extinction.

      This system will benefit those who control the levers of power, but the rest of the population will be forced into dependence upon government "kindness". Independence and individuality will be absorbed by the "volk" or the "community".

      The American Dream was nice while it lasted.

    16. Andre Germany says:

      One can only wonder where the once greatest and only true free nation will end when this 4-year period has ended in 1012. (God help us that it does not turn into an eight year term) as America effects the whole world.

      I wonder what the Officer who came into my factory a few weeks after President Reagan got elected, would say today to the same question I asked him then. Soldiers came to warm themselves up while the where keeping watch over the East German border. I asked what he thought of the new President (Reagan) and he responded: Well at least I can look you straight in the face again!

    17. Richard Cancemi, Arl says:

      Obama lies through his teeth! His whole administration lies about everything. Their goal is to have the government control wealth and NOT to salvage or foster capitalism. He and his Marxist (Alynsky) followers want to fix NOTHING! Their intent is to raze everything traditionally and fundamentally American so they can control everything and hence micromange our lives from womb to tomb!

      We must make sure they do not succeed or we will live under a dictatorship all the time and not just for 4 years!

    18. Bill, Ohio says:

      There are millions of employers who would add employees at zero cost to the American people if they simply didn't believe the government wanted to destroy them.

      The economy is all about jobs and jobs are all about profit.

      NO PROFIT/NO JOBS

      Anything that reduces profit, reduces the number of jobs.

      JOB KILLERS = ECONOMY KILLERS

      HIGHER COSTS = LESS JOBS

      Higher taxes = less jobs

      More regulations = less jobs

      More unions = less jobs

      Higher utilities = less jobs

      More government = less jobs

      No matter how much money you spend, no matter how strong your will, no matter how much power you have, you can not change these rules.

    19. Christy, Indianapoli says:

      The difference between actual lies vs. these promises and proclamations of economic success from is the word 'net'. They never promised a net increase in jobs or said there was a net increase in investment.

      They may actually be able to point to $280 Billion in private sector investment that claims to be due to the stimulus. But that doesn't mean a net increase in private sector investing. Nor does it address the loss of investors due to the same stimulus package along with the policies and practices being implemented. That's the advantage of leaving out part of the story and of making such nebulous promises.

    20. Gary Alaska/Nevada says:

      Some Marxist said, "the way to destroy the Free Market Capitilism, is to grind it between Taxation and Inflation " EXACTLY what Obama is doing.

    21. Mary Sosebee, Atlant says:

      We are witnessing the take over of our country and its financial system, health care and housing. Banks will own housing that is defaulted upon. Private property is devalued, ownership diminished. Property and death taxes will further diminish private ownership and our capacity to pass on to our children. Sharia law is like socialism in regard to earning and retaining profits. The President of the United States invokes powers (take over of private companies like GM, extorting money from BP…) that he is not afforded by our Constitution. Our Constitution is being diminished. Our borders are not secure in a time of war and he may grant amnesty to illegals within our borders. Would this be for all illegals in the US; illegals like the 911 terrorists? Will Obama give them the vote? Unthinkable! What can we do when the President is not held accountable?

    22. Drew Page, IL says:

      I guess it's time to breakout the champaign and start singing "Happy Days Are Here Again". Obama has declared the Stimulus legislation a success! It has created 3 million new jobs. Never mind that the unemployment figures are hovering at 10%, which does not include all those who have exhausted their unemployment benefits, and never mind those former teachers, engineers, auto assembly workers and steel mill workers who now washing cars, washing dishes, mowing lawns and greeting Walmart shoppers. The Stimulus has worked; Obama said so.

      I guess all he needs to say now is that the wars in Iraq and Afghanistan are over; the deficit has been reduced to zero; that federal spending is under control; the federal government has eliminated illegal immigration; and we no longer need gasoline to run our automobiles. All he has to do is say it and it will be true!

    23. GRW3, Texas says:

      The stimulus 'failed' because it was built on a delusion…

      For years I thought the Democrats were just being cynical when describing how much money the Reagan and Bush tax cuts had cost. You know the reasoning "We would have had so much more money (to spend) if those cuts had not been made!" I was sure they were just throwing out what one of them called 'boob bait for the bubbas' and that they knew the tax cuts stimulated the economy. Turns out I was wrong…

      They actually believed the economic growth after the Reagan and Bush cuts would have happened anyway and the cuts just paid off Republican pals. So 'knowing' that the cycle would soon be on the upswing they wrote a bill that paid off all their pals. Whopse apocalypse…

      To quote a famous furred philospher: "What a bunch of maroons!"

    24. John Madera,CA says:

      More government intervention and regulation! just great!!!

    25. Sterling, Florida says:

      At first, I thought Obama believed he was immune to the laws of economics. Now I believe he is simply unaware of them. Small wonder, considering the voters elected someone to lead the largest economy in the world (indeed, in the history of mankind), who has never in his life had fiscal responsibility for so much as a lemonade stand. Then again, if he actually understand economics, he likely wouldn't be a Democrat.

    26. Blair, Franconia, NH says:

      The Obama stimulus failed because he broke his promise not to raise taxes on people making under $250,000 by one dime. The expiration of the Bush tax cuts is

      going to raise the deficit by another one trillion dollars. We should go back to what

      spending was under Ronald Reagan. At least he tried to get spending under control.

      Obama's never met a tax he hasn't liked. :)

    27. Carole Balent (Cleve says:

      Why are we, United States" giving a Stimulus package to South Korea? Stimulus packages, if handed out in the first place, should be for American companies not foreign entities. I realize that 300 jobs "may" be created in Holland, MI, which gravely needs them, but not at the expense of American taxpayers.

    28. Ron Derry NH says:

      Man's desire to enslave his fellow men is an innate desire to be on top without merit…..something govern mentalists desire and socialism affords them.

      Karl Marx spent a lifetime inventing a religion governments could enforce as deity neutral…problem is that makes government god…it would be better to be godless than to allow government that perversion of worth….

      A mans education may qualify his worth by some conformity scale passed down by other men with the similar credentials…but wisdom is gained by use of knowledge not the gaining of it.

      Obama is lost to us, it is time we start fighting to save this country as he is unteachable in the basic wisdom of life, and deficient in all the things it takes to be a leader.

    29. Linda Goodman, Italy says:

      $500,000 to create one job??? The government would have been better off to send each household the stimulas money. We would have spent it on durable goods, promoting business. Oh, but this is much tooo simple for the feds. to figure out!!! Instead they like to "create" more gove. bureracy.

    30. jg, Isle of Palms says:

      "Using these two data points, one can objectively establish the Obama jobs target for December 2010 at 138.6 million. Fast forward to July 2010 and the latest jobs report shows total U.S. employment at almost 130.5 million. This means President Obama’s stimulus has failed to meet its own standard for success by 7.4 million jobs."

      You lost me when you subtracted 130.5 from 138.6 and obtained a difference of 7.4

      Shouldn't it be a failure of 8.1 million jobs?

    31. Ritchie The Riveter says:

      When you perceive your future as a government-mandated cash cow, social-services surrogate, and/or scapegoat, would YOU maintain the same, or a higher, level of economic activity … or would YOU pull back and stop spending and/or hiring?

      What I described above may have been the very trigger for this recession … all the way back in 2007, when employment growth flattened out, starting almost to the day that the Pelosi/Reid Dimocrat Congress was seated … and the business community, knowing that there was a high probability that the White House would wind up as their ally, acted in the light of these developments.

    32. Dexter60, San Franci says:

      Why the Obama Stimulus Failed is quite an eye-catcher.

      But I feel certain that Obama is being honest at saying it is a success. It is working just as intended.

      The Federales are not spending money, they are spreading paper which will help to destroy trust; clamping off energy, to choke the present and darken the future. Creating mutual antagonism amongst the people for distraction and further destruction..

      I am not concerned about the success of these mega-thugs … I must be energized for my own success and those most deserving around me.

      Those used to opulence from their social work amongst the rich will soon be hit hard enough that the Obama game will shut down; all we need to do is take care of what is important, so they and not we, are the starving wretches freezing in the dark.

      Those willing to struggle will succeed, bloodied but unbowed.

    33. bandit, Boston MA says:

      You mean failed as in failed to spur the private sector economy – they mean succeeded as in protected and grew gov't.

    34. Fred Thompson says:

      Another reason why the stimulus did not have the desired effect is that the expenditures were deferred to the election period, rather than being spent early when the economy was in deep recession. All those signs lauding Obama's stimulus spending are meant to get votes.

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    36. Garry Holt El Paso, says:

      Wonder when the mainstream media will pick up on this debacle. Apparently it is flying beneath their radar. Are they really biased or am I just paranoid?

    37. Pingback: Instapundit » Blog Archive » HERITAGE: Why The Obama Stimulus Failed….

    38. vlhorton, republic o says:

      if 25% of the middle class were to file 99 dependents on your W2 tomorrow, we could starve the fed of their operating capital in less than 45 days… think about it. they work for us and we don't like what they do and yet we pay them every day. all of their keynsian nonsense is completely dependent upon an illegal tax code and mathematically unsubstantiated economic fairy dust. if we really wanted to we could make a point and choke these idiots in a month. why wait until november. a government which fears its populace is a good government.

    39. Lee White Tanks AZ says:

      There is little doubt that the "Uncertainty Principle" for business is alive and well. It goes something like this (paraphrasing the UP from Quantum Physics):

      "The more "precisely" the business climate is pinned down by government regulations and taxing policy the less precisely known will be the economic outcome". In other words Unintended Consequences are rampant.

      How on earth can anyone believe that 2700 pages (the Obamacare Bill) and 2300 pages (the Financial Regulatory Bill) of "Lawyer Talk" can be reasonably translated into a tool for real Heath Care and Financial Industry growth and well being.

      We are already drowning at the "bar" (in courts) as every piece of legal minutia is brought into play as opposing lawyers "use" our legal and tort systems to frankly, get rich. Our "Legislators" who are for the most part attorneys themselves are not about to kill the Golden Goose.

      Somehow this must change. The legal system itself is breaking down as case loads go into the stratosphere. 2700 and 2300 page bills are just the tip of the iceberg. Wait till you see Cap and Trade, so called Card Check (union), and Comprehensive( the name alone is worthy of at least 3000 pages) Immigration Reform, and the beat goes on.

    40. Ted Stein, President says:

      When governors and mayors "objectively" calculate the number of jobs saved ranging from teachers to staff to police officers and fireman, conservatives/Republicans claim Obama is pandering to the unions. When new energy companies publicly give credit to the stimulus program for funding their start-up or expansion, conservatives/Republicans denounce green energy as impractical if not impossible, since we need fossil fuels to operate cars. When the banks and automotive industries were bailed out through TARP, the conservatives/Republicans claimed that Obama was socializing the country. When Obama passed the health reform bill, and will be passing the financial regulation bill, the conservatives/Republicans will continue to argue that we are creating a budget deficit that will never be paid back. However, they refrain from comparing the impact of Reagan's trickle-down economic policy, re-attempted by Bush, to the Clinton economic policies. And for obvious reason. If they did, they would have to admit to the objective facts. Believing that lowering taxes to encourage economic growth would lead to increased tax revenue has led to severe recessions for both Reagan and Bush. Increasing social programs is no more the problem than tax law that encourages capital investment. The problem lies in reducing tax revenues from the wealthiest 2% believing that they will reinvest in capital growth. Without financial regulation they will invest in hedge funds.

    41. Pingback: Today in Washington - July 15, 2010 | RedState

    42. C Cross, Portland, M says:

      I also noticed a sign near my home that said "stimulus money at work" while I drove by over a dozen (lost count at 14) people standing together talking. How is my tax money filling budget holes in a state economy creating jobs? It is simply temporarily paying directly for employees that the state cannot afford, effectively doing nothing, to the tune of about $200,000 for every $50,000 job paid for. Job creation should mean the creation of jobs. A State job that is 100% paid for with borrowed federal money, and therefore nonexistant since it has to be paid back, is a far cry from "creation". Its akin to the state being so proud that it saved millions by paying some salaries next year

    43. Paul (Toronto, Ontar says:

      I'll add to this. The problem is that government subsidized business will create a supply glut for the manufactured product, while simultaneously tightening demand for the raw materials required for production. So what happens is that you have a product which you can't sell at a profit because it requires material that's too expensive, and you end up laying off people and closing plants across the industry. That is, unless they receive a stimulus as well.

      I call shenanigans.

    44. Leith Richmond says:

      Mental health doctors in our country must be overwhelmed with patients, who are aware of the insanity going on with BO and wondering if they too have gone round the bend. Lies and more liies, said with a straight face.

    45. Walter Legg says:

      Dear God, why have we allowed this land of the free to fall onto evil hands. Please hear our voices as our folks are in need of your guidance. Rally us to whatever means it takes to return our country back to decency. Awaken all of us to begin to be proud and independant. let's return to Norman Rockwells' America of small business for families. The days back when we had family dairy farms where families were productive, and small manufacturing shops in small towns.

      My friends, we need to labor for new government that will honor our constitution and rule of law. We need to rally to save our country, it's time for decent folks to show the world our blessings and love of capitalism and freedom, right here at home. Communicate with you families and neighbors.

    46. Pingback: Truth in Jobs » Obama Continues Tour to Sell Flawed “Stimulus”

    47. chemman, Arizona says:

      Nitpicking a bit 138.6 – 130.5 = 8.1 million jobs not 7.4 million. Which makes his performance even worse.

    48. Pingback: Morning Bell: Why the Obama Stimulus Failed | The Foundry … « President Barack Obama

    49. Ex Marine Jet driver says:

      Everyone is suprised at O liar's performance?? Think about it.. Raised by a drifting "world" family, In many muslim schools, Given their view of arrogant -unfeeling america.. Then that paragon of American values Rev Wright for 20 years,.

      Marry a "I have never been proud of america" WHAT DO YOU EXPECT?? This fool is a black panther loving race baiting nutcase.He has surrounded himself with like minded loony czars,(paid 150K plus by us), maybe thats where all the job creation actually is..

      Nothing can change untill we throw him out in 2012. He will pass loony tune measurers by executive orders without botox and limp harry. This man is single handedly destroying America.. God help our children..

    50. Pingback: Morning Bell: Why the Obama Stimulus Failed | The Foundry … : PlanetTalk.net - Learn the truth , no more lies

    51. Cindy Stratton, Resc says:

      To Staff: I support what your organization is doing and love reading both your "Morning Bell" and the Comments section. However, since you are on EST, it is barely 6:00 AM on the west coast when your comments are all posted. Therefore, I'm requesting that you do a second posting later in the day to include comments from a greater cross-section of the country.

    52. Kevin Habib says:

      It always surprises me how misinformed and biased people are. To suggest that the stimulus failed is an absolute joke. There is not a single real economist who would even dare to suggest that it failed.

      It's pretty obvious from reading his post that Conn has no economic studies in his background (but if I'm wrong, please let me know).

      I would suggest that folks actually review the economic indiciators out there.

      Look at GDP growth, compared to contraction before the stimulus – then tell me it failed.

      Look at job loss numbers pre-stimulus and post-stimulus – then tell me it failed.

      Look at the stock markets pre-stimulus and post-stimulus.

      Look at industrial production numbers. Look at consumer spending. Look at consumer household wealth.

      It's obvious to anyone with any sort of education in economics that the stimulus was a massive success. Do any of you not remember the enormous tailspin the country and economy was on thanks to President Bush and Republican Congress. The very same policies that are responsible for 90% of the deficits and debt over next decade.

      The ignorance is amazing. And then you have people asking if you recordeed every bill and executive order so they can reverse them next year? Talk about having zero knowledge of how policy works.

      Do you actually think the Republcians will gain control of the House and Senate in November? An absolute joke. And even if they did – do you not think Obama would veto anything he did not like. Do you know what it takes to overturn a veto? 66% of congress. No chance that happens.

      You must stop listening to foxnews and the lies they pump you. That's teh sad thing. You have peopel with zero education like Glenn Beck (who dropped out after one college class and was nothing more than a morning zoo dj) spewing misinformation, and for some reason, people actually believe him.

      The simple fact is President Obama and this Congress has accomplished more in 19 months than any other president in decades. He brough us out of the econmic nosedive the republicans created by paying for nothing they did (trillions for 2 wars, trillions in tax cuts, trillion for Medicare Part D), he reformed the health care system that was badly broken, reformed Wall Street (Senate passed the bill today), reformed credit cards, and on and on.

      Someone actually wrote above that letting the Bush tax cuts expire would ADD to the deficit? How ridiculous is that? Pretty much all you need to know to sum up the economic expertise of this crowd.

    53. Pingback: Administration Takes to Michigan To Applaud Another Waste of Your Money

    54. Lee White Tanks AZ says:

      I'm going to go see Johnny Depp in Alice in Wonderland so that I can get a dose of sanity. This side of the mirror is definitly lala land.

    55. Tim, Jackson, MS says:

      Give me the $500,000.00 it costs to create one of these jobs and I'll create 8 to 10 good jobs.

    56. Janet Demsen Jeffers says:

      It is obvious that the prepsident's plan is and always has been to destroy the American economy, so he can rebuild it into a socialist society. It seems as though he has all the power he needs. Can we do nothing to stop him. He doesn't seem to care what the American people think . We really are in a mess. I hope and pray that we can get out of it and get back to being a capitalist society where people have the right to live as they choose and businesses have the right to succeed or fail.

    57. ElectricMamaBear Lew says:

      When FDR finally left office, the first thing that they did was to place term limits on the office of the President. They learned that absolute power corrupts absolutely. To learn from the past and face our present horrific situation, requires immediate action. We must vote them ALL out, and replace them with those who will agree to some common sense ideas. Our ideal new Congressmen and Senators will actually read the Constition, so that they will recognize and work to repeal ALL of the unconstitutional laws that have been "passed." They should also support passing a bill that limits all future Bills to be no longer than the Declaration of Independence and they include items only relevant and applicable to that specific bill. (NO MORE PORK.) They will also want to pass a bill that REQUIRES that all bills must ACTUALLY be posted on line for seven days for the public to review and that all bills must ACTUALLY be read by the Representative or Senator, BEFORE they may cast their vote. While I am dreaming, they would also pass a bill that will place a two term limit for both Congress and Senate and will include a provision that during those two terms, the Representative or Senator must carry their own health insurance and be unable to vote to raise their own salaries. They will also agree to pay their taxes, not profit from their position and return to their regular life and jobs at the end of their service. They will of course all have experience with the real world and will follow a "capitalist" budget and protect the people's money as they would their own.. as they will be vested in paying taxes and having to return to the private sector when their service is finished. These are the kind of people that would and could return us to a Free and Capitalist nation. Any takers out there?

    58. Joseph Steiner, Gran says:

      Thanks for your post on BO's Holland visit — and this is saying nothing of the expense of him coming here with all the security, travel costs etc, etc. But he sure is proud of 300 possible jobs. I think I just threw up a little in my mouth!!!

    59. palisooner, Los Ange says:

      I'm no fan of Obama. Didn't vote for him, nor will I ever vote for him.

      But, this idea that government shouldn't be in the "business" of private business is utter nonsense. Hell, defense industry government contracts literally built the Southern California economy after WW II.

      The government should be in the business of promoting industries that are in our national interest. The oil industry is one of the most heavily government subsidized business sectors in America. I'm fine with that. And of course there are the agriculture subsidies which allow us to be the best fed population in the world..

      So, please don't get all pious about government being in private business. It always will be.

    60. Lynn Bryant DeSpain says:

      History told us it would fail. Corneilious Vanderbuilt dicovered with his own money, twice, that it would fail. All markets in a Free Enterprise Society/nation/Republic, must be allowed to correct themselves. There is nothing to large or to small to fail. there are no businesses so important or insignificant to go under.

      When one goes under, another always replaces it, with better and more efficient progress and employment.

    61. ann kitay fulton, tx says:

      First I want to thank you for running comments. It is enlightening to learn how people across this nation think about what troubles most of us.

      The battery plant – argh! I would have written the last sentence in your first paragraph to read: This plant, in a nutshell, explains why the President's stimulus plans have been abject failures. just my first reaction upon reading the original sentence. Again – thanks for allowing us to sound off and for not feeling so isolated in this economic and political storms we find ourselves in. okay – don't end a sentence with a preposition.

    62. Billie says:

      Why the Obama Stimulus Failed? Because Obama planned it to be so.

    63. thomas montague, sch says:

      please folks, why don't you admit that your criticism of president obama is wrapped in hate for the man. i have heard such ridiculous comments about him that have no basis in fact. just admit you don't like the man and never did and that you wanted to see him fail. i don't know the man but i hope i have enough sense of fair play to let him finish the term that unless i am missing something the american people elected him to, or did he seize power through illicit means? i am surprised that so many so called Christians have such fear of him and his policies. my hope is in Christ and barack obama, george bush nor any other politician can separate me from the hope of eternal life in Christ Jesus. i don't know about you but i'm on the winning side. peace be unto you.

    64. Vinny, Dallas says:

      Dear X,

      Using fiscal incentives or subsidies to pick up one technology over other is a bad idea; alas Democrat & Republicans are both master as this. Former has batteries & latter will have oil & gas as their proteges.

      Govts cannot spend to create jobs, thats the job of entrepneurs; the best it can do in recession is to pay 'modestly' to enemployed so they do not start starving or pulling kids out of school. Picking out a firm for doles is bad choice, weather it was battery plant or taxpayer subsidized deepwater horizon.

      But does any politician has balls to take on entrenched interest groups; like oldies eating away at our savings via medicare & medicaid, public sector workers (heroic policemen, firefighters & prison guards included) enjoying generous salaries & pension and right to retire in 40's.

      Today we are a rich nation where it's possible that kids can miss of decent education, you may die of preventable diseases if you lose jobs and you can literally starve to death. And all you can think about is abortion debate!

      Spare some thought for the living, while you take cidgels for the unborn (whom you will be more then happy to burn at stakes the moment they are born!).

    65. Charlie Michigan says:

      Every one needs to go and look up the act of 1871!

      You will find that This current UNITED STATES is not a Constitutional Republic like most were taught in school.

      This act of 1871 turned this country into a CORPORATION!!!

      To find out what went wrong you have to go back to the beginning and come forward. do a search on the act of 1871 and the Jesuits and you will have a good insight on who and how this country and most others are being run.its time the American People learn the truth.

    66. Kerry says:

      Heritage wrote "So how on earth can the White House claim they “saved or created” 3 million jobs? "

      You or I ask ourselves, "Is this true?", or "Do I know what I'm talking about?". President Malignant Pestilence is not bothered by these moralities, and only asks, "Will this give me more power or not?"

      He is no longer, (was he ever…) merely a political opponent but is an active enemy of American values and traditions. He might recall the cluelessness of Madame Ceaucescu who, at the last moment when the lights came on said, "Oh dear, I think they are going to shoot us." I fear events will overtake Mr. Notorious Lightweight Flyweight Blamer in chief, and he will flail and froth when the country is in immediate peril.

    67. Charlie Michigan says:

      this must be a govt controlled forum

    68. toledofan says:

      I just hope that everyone doesn't forget all of this stuff in November; it's the only chance we have to slow down this avalanche. I just got a reply back from our Ohio Senator, Sherrod Brown, and it's amazing to me that these Democrats believe they are doing good by passing this finance reform bill. It doesn't even address Fannie and Freddie and from what I've read it's going to be another job killer, these guys think they know more than everyone else. What is so sad is that Brown, in his reply, said it was passed with bipartisan support, right; with four want to be Democrats that callerd themselves Republicans.

    69. Kevin Habib says:

      Also think it's funny so many say Obama has failed on the job front, but Reagan was succesful.

      By all account, at this point in their first terms, Obama has been more successful than reagan when it comes to unemployment.

      When Reagan took over, unemployment rate was 7.5%. 24 months later it was at 10.8%. So two years after Reagan took office, the rate grew 3.3 points.

      When Obama took over, rate was 7.7%. 10 months in, it reached a high of 10.1% and today, 19 months after takign office, it sits at 9.5%, which is only 1.8 point higher than when he took over.

      So if you are to state Obama is a failure when it comes to unemployment two years into his term, Reagan was a massive failure.

    70. Sue Marie in Detroit says:

      The big problem with Obama's Administration is they are not God. They want to be God but they are not. They make decisions that effect millions that cause unintentional consequences. They do not believe in natural law or free market principles. Their failures does not surprise any rational person. Obama's Administration Policies are meant to destroy America and Americans to produce a new world order. This new world order will never work.

    71. Pingback: Did you hear the one about 3 million jobs created or saved? | Radio Vice Online

    72. vince says:

      Why do they need to spend money to create jobs? Just stop outsourcing. Even with the bank bailouts, it is still impossible for homeowners to refinance. Well hello? Directing those greedy bankers to refinance/modify double digit interest rates to the low 5% or 4% puts extra money into consumer pockets to spend. Why does it have to be be complicatedly dumb? Ive been in other blogs tpix.net and news discussions its all the same issue.

    73. Jim Mills Maryland says:

      Perhaps if the Bush Administration had not sent the economy so far South, we would not have needed a stimulus package at all.

    74. Pingback: You lie again! This time about jobs | Obama Watch News

    75. Billie says:

      Thomas and the like minded, don't put words in our mouths! We HATE what this man and the likes of him, is doing to this country. If you have faith in Jesus Christ and Barrack Obama, you're sacrilegious as these two are opposites. And if Jesus were running this country, or a true Christian was, the country would not be subject to government focus on citizens victimization and take-over of everything this country was established to offer, including peace. Have faith in God through Jesus, or you will be deceived. Oh and yes, all Christians, of all walks of life, follow a man not born white, named Jesus Christ. True Christians can't be racists.

      Jesus didn't feed the weak, he built their strength. Just the opposite of the current leadership.

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    77. Drew Page, IL says:

      Mr. Habib — keep drinking the kool-aid. And please keep posting your nonsense. Not only do I support your right to express your opinions, I look forward to them. They are always good for a laugh and they 'stimulate' the rest of us to do a complete house cleaning this November.

    78. john Arizona says:

      Kevin Habib: Obama said that unemployment would be no greater than 7% – or was it 8%? It's hard to follow his fast tongue. Now you and the rest of the kool aide drinkers say he has done wonderous things, and the stimulus was an overwhelming success. I guess it's all in how you define success – like some other Democrat who wanted to define "is"

      What would you loons do if it weren't for George Bush and Ronald Reagan? You wouldn't have anything to talk about!

    79. Pingback: This Week in Washington - July 19, 2010 | RedState

    80. Billie says:

      Hey Kev, look at the welfare stats. How many needy during reagan to how many more with obama. Lets include all government programs today, that weren't needed back in reagans day when people were held accountable. The more welfare and government programs the weaker the people. Obama leads the weak. Reagan had faith in people. Reagan was honest and inspirational and people were free to do things for themselves. Obama leads the weak, anyone with a broken fingernail, he wants to know about it and he'll take care of it until it's impossible for people to do for themselves.

    81. Ed Herold says:

      Not so long ago if one wanted to buy a home he had to have 20% down and the bank would loan the money. Clinton changed that and nothing down forced upon banking and payments of only interest required. What a mess this caused this country. Few want to look at what put us here. Also at one time we broke up companys that got to big and controled to much of something — i.e. AT&T

      Since those times Barny Frank, Chris Dodd and a number of others figured they knew better and now no one know where or what to expect. They have just re-written how to do about everything – It will take years to overcome all the confusion that they have put into law and most people in this country will be effected in some way or another.

      All elected officials take an Oath Of Office. In this Oath they are to uphold the Constitution and the Laws of the Country. Most all elected officials should be impeached as few even attempt to do this. As per the Constitution they are to live under the same laws that all americans live under – But they have excluded themselves from the law in many cases. When are we the people going to force them to uphold the Constitution and the Laws of America.

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    86. Lynne Uher says:

      Why has the President’s $862 billion stimulus failed by 7.4 million jobs? Because government spending does not stimulate economic growth. All it does is move resources away from one sector of the economy to another. And government has a horrible track record at efficiently allocating resources. All that really happens is that, on net, jobs get destroyed in the transfer process.

    87. intelligentdesign says:

      The Congressional Budget Office estimates that it reduced unemployment by somewhere between 0.8 and 1.7 per cent in recent months. Economists at various Wall Street houses suggest that it boosted G.D.P. by more than two per cent. And a recent study by Mark Zandi and Alan Blinder, economists from, respectively, Moody’s and Princeton, argues that, in the absence of the stimulus, unemployment would have risen above eleven per cent and that G.D.P. would have been almost half a trillion dollars lower. The weight of the evidence suggests that fiscal policy softened the impact of the recession, boosting demand, creating jobs, and helping the economy start growing again. What’s more, it did so without any of the negative effects that deficit spending can entail: interest rates remain at remarkably low levels, and government borrowing didn’t crowd out private investment.

      University of Chicago survey of distinguished economists showed that 80 percent of them believed the stimulus was good for the economy.

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