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  • VIDEO: Why Obama's Stimulus Failed

    President Obama’s economic stimulus was supposed to revive America’s economy and put people back to work. But nearly three years after Democrats rammed the bill through Congress, it’s a clear-cut failure.

    The nation’s 8.6 percent unemployment rate stands out as one of consequences. Then there is the high-profile Solyndra scandal and countless other government schemes gone awry.

    In a new video from Reason.tv, Jim Epstein takes a closer look at other examples — in a setting just a few miles from Capitol Hill. In Silver Spring, MD, government contractors pocketed big bucks from the stimulus. Government funding for green jobs, weatherized homes and infrastructure are among the other failures stemming from the stimulus in this community.

    “Even if you were to believe that government spending can trigger economic growth,” said Veronique de Rugy, senior research fellow at the Mercatus Center, “the money is never spent in a way that’s consistent with the conditions laid out by the Keynesians for it to be efficient.”

    Posted in Featured, Scribe [slideshow_deploy]

    15 Responses to VIDEO: Why Obama's Stimulus Failed

    1. steve h says:

      It failed because you and other biased politicos don't have a grasp of basic economics. All you have to do is look at the numbers and you see that it kept our country from a second depression. It's as simple as that.

      The economy was contracting before the stimulus, it was shrinking, we had -8% GDP growth before stimulus…and after it have avereraged between 2% and 5% growth each quarter. Only one who is biased with politics can call that a failure.

      We were losing 750,000 jobs a month before it. After it, we've added an average of 200,000 jobs a month. You call that a failure?

      Seems you forget 1/3rd of it was tax cuts and another 3rd was aid to states to keep their fiscal picture from getting even worse.

      A failure? Just look at the stats.

      • Brad - Detroit says:

        Basic economics ? Seriously ? steve h – please, please, please – stop posting your "losing 750,000 jobs a month to adding 200,000 jobs" a month as proof that the stimulus worked. Companies were "right-sizing" their business in 2008 and 2009 to Obama's new normal. Once the businesses trimmed their payrolls to meet the new demand, of course the job losses stopped. It had NOTHING to do with propping up state and local government pension and healthcare plans or pissing money away on earmark projects or other failed policies. Give it up. Obama is the political equivalent of the Hindenburg. Oh the humanity.

        • steve h says:

          Stop using that argument of taking us from losing 750,000 jobs to adding 200,00 jobs? That's just nonsense. That, and the GDP numbers, and the markets, and basically every possible economic indicators are absolute proof the stimulus worked. Adding 3 million jobs is a failure? If that's so, can't imagine what you call the Bush adminsitration and the dismal state he and his fellow conservtives took our country into.

          Also love that all you experts point to the unemployment numbers religiously, but when used against your silly arguments, you say the numbers are not accurate.

          Others talk about adding to the deficit, but Obama has a small percent increase of debt than Reagan and Bush. Conservative economic policies have never worked. Ever. Progressive economics has – but conservatives continue to blind themselves from the facts and stats.

          • Mike says:

            So leaving the people alone and letting them keep more of there money to hire and expand their business doesn't work??? You need gov't intervention for it to work or redisbution of wealth for it all to get moving again! Obama makes me hate this country just as much as he does with all his marvelous ideas!! This country got exactly what it deserves. The great Uniter! Christmas is going to be great this year!!

      • Leon Lundquist says:

        Man alive! Are you dreaming! A junk job is not the same as a real job. You been fooled by the way the Democrats count things. It is 186,000 new jobs per month that our kids coming into the work force! You call 16,000 jobs 'growth?' If you count the 600,000 people who gave up looking for work Obama is digging us into a deep deep hole. Number One Rule of Statistics is Statistics Lie. You've been deceived! By experts!

    2. R.U.KIDDIN says:

      In the words of a famous Blue Collar Comedian: You can't fix stupid".

    3. Al B says:

      Stats? The recession was officially over in the first quarter of '09, before the Stimulus took effect. As the video points out, it failed on its own terms of reducing unemployment. It was, as the "stats" confirm, largely a transfer of funds from taxpayers to government employees, union members and state and local governments. In other words, a massive misallocation of capital, that has contributed, along with other misallocations of resources promoted by the Obama Administration (subsidies, waivers, regulations restricting energy development and lending, etc) to choking the recovery that would normally have occurred in the 24-months following the end of a recession. It did not keep the country "from a second depression" but did help triple our deficit. Thanks for nothing!

    4. Leon Lundquist says:

      These guys are just stealing again. Six guys standing around with shovels beside $10,000 signs, they were never good jobs, they were junk jobs. I knew a guy who worked split shifts and was hired and fired and hired and fired so as to falsify the statistics further. They worked just enough to not qualify of Unemployment benefits, and just enough hours to call it a job. But he was worse off after his Construction "Job" and it was just more people on the road with signs. Nothing, no work actually got done. Junk 'Safety.' It was sickening to see them so used!

    5. Ron says:

      You want stimulus, how about filling the 10,000 jobs per day that the baby boomers are retiring from. If 3.6 million people are retiring each year that should be opening up 3.6 million jobs and should be reducing unemployment.

      • Bobbie says:

        this is the time to reduce those positions in government that are unconstitutional and use your not only common but perfect sense. too bad the government works against America's way and encourages the people relax on unemployment and other government favors paid by everyone else. all by government unconstitutional design…
        IT'S GOTTA STOP!

    6. steve h says:

      Since passage of stimulus, we've saved or created over 3 million jobs. The stock markets have doubled – which has shot up household wealth. The economy was saved from a great depression and has since been actually improving. The largest provisions that will add to the debt over next decade are the 2001 and 2003 tax cuts, the two wars, and the 2003 Mdcr Rx law – the stimulus is a speck of dust compared to the impact those 3 items have – why are there no complainst about those there? Or is it just more conservative speakers who refuse to look at facts and stats?

    7. Bobbie says:

      steve h says "Since passage of stimulus, we've saved or created over 3 million jobs."
      response: we're not sure if we saved or created but we know we did one of the two covering up the 7 million lost.

      steve h says "The stock markets have doubled – which has shot up household wealth."
      response: where did you get a shot of wealth? all we got were two more tax statements both due a month after we got them!! you're a rhetorical fabricator, steve h. Always glad to respond…

    8. Steve Holland says:

      Steve H should watch the video. I can see why Obama isn't trying to fix the problem of poor use of funds. He would have to go after unions, and that isn't going to happen!

    9. Rodsbar24 says:

      if we created 3,000,000 jobs who got them the 3,000,000 work visas Obama hands out like candy and what kind of jobs are they Burger King???

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