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  • Obama’s failed stimulus

    Obama Jobs Deficit Forcing Obama to Scramble

    The August jobs report shows the Obama jobs deficit at 7.5 million workers. The Obama jobs deficit is the difference between the current level of employment and the level he promised his stimulus policies would achieve at the end of 2010. The President boasted that his policies would create 3.5 … More

    Morning Bell: The Audacity of Failure

    In April, while campaigning in Pennsylvania, Vice President Joe Biden promised the American people: “I’m here to tell you, some time in the next couple of months, we’re going to be creating between 250,000 jobs a month and 500,000 jobs a month. … We caught a lot of bad breaks … More

    It's Not About Guns vs. Butter, Mr. President

    It is understandable that the President wanted to mention the sorry state of the domestic economy in his address to the nation. More Americans are out of work now than when Obama took office. Recent economic news has not been good. Just as the President said, fixing the economy is … More

    Stimulating Competitive Disadvantages in Broadband

    By now it’s obvious that the government’s “stimulus” spending spree has failed to achieve its intended results—just as critics of Keynesian economic theory predicted. Compounding the policy blunder is the failure of officials to properly vet some of the costly public works projects. Case in point is the $7.2 billion … More

    Obama’s Economic Slide

    The Commerce Department today revised down its estimate for second quarter gross domestic product from 2.4 percent to 1.6 percent. This is not a sign of a weakening economy but a weak economy last spring. The weakness was especially pronounced as the bulk of what growth did occur was due … More

    The Report on Stimulus CBO Wishes Would Go Away

    Pity the poor Congressional Budget Office (CBO) Director. Congress passes and the President signs the most massive fiscal stimulus program in history, spending more money on Keynesian stimulus than has been spent so far on the Iraq war. But, unlike the Iraq war, the stimulus has been a complete bust. … More

    Morning Bell: Liberalism is Failing

    On Tuesday, the National Association of Realtors reported that July sales of existing homes fell by 27% from June of this year and by 25.5% compared to July 2009. This annual sales rate of 3.83 million homes was the lowest since NAR began keeping track of sales in 1999. Then … More

    Morning Bell: We Can't Spend Our Way to Recovery

    When President Barack Obama was selling his economic stimulus plan to the American people, he promised that, if enacted, the legislation would prevent unemployment from rising above 8%.  $3 billion in Cash for Clunkers bailouts, $10 billion in government union bailouts, $16 billion in Medicaid bailouts, $13 billion in home … More

    Another Green Jobs Debacle from Obama's Failed Stimulus

    The New York Times reports today that only 8.4% of the $3.2 billion Congress included in President Barack Obama’s failed stimulus to create green jobs by improving energy efficiency has been spent through July. From the NYT: The program was to provide money for the purchase of better lighting or … More

    Morning Bell: Death, Taxes and the Failure of Obamanomics

    Benjamin Franklin famously said, “In this world nothing can be said to be certain, except death and taxes.” With America’s stagnant-as-a-swamp economy still stuck at 9.5% unemployment, an unexpected 484,000 new jobless claims, and reports of a slowed recovery, it might be time for old Ben to pull out his … More