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  • Obama’s failed stimulus

    Tweet of the Week: On Elvis and the Failed Stimulus

    Representative Shock reminded Americans this week that more people believe that Elvis Presley is still alive than believe that Obama’s failed stimulus has produced jobs. More

    Morning Bell: A No-Cost Stimulus That Can Create Real Jobs for the American People

    In today’s Wall Street Journal, former President Bill Clinton’s pollster Doug Schoen writes: “Sen. Evan Bayh’s stunning decision to retire should serve as more than a wake-up call to Democrats. It should spur a fundamental re-examination and reorientation of the party’s policies, practices and approaches leading into the fall election. … More

    One Week After Passing, Congress Set to Break PAYGO

    Just last week Congress revived PAYGO legislation which is supposed to force legislators to offset any new spending with spending cuts elsewhere in the budget. While this won’t come as a shock to most Foundry readers, The Hill reports that “the ink is barely dry on the pay-as-you-go law, and … More

    Obama’s Faith-Based Economics

    On the stimulus’s first anniversary, keep in mind one number: 9 million. That is the Obama jobs gap — the difference between the 3+ million net jobs President Obama said would be created (not just saved) and the nearly 6 million additional net jobs that have since been lost. By … More

    Morning Bell: Don't Celebrate First Failed Stimulus with a Second One

    Tomorrow is the one-year anniversary of the American Recovery and Reinvestment Act, or as it is more accurately described, President Barack Obama’s Failed Stimulus. When President Obama signed the now $862 billion deficit-spending bill into law, the unemployment rate stood at 7.6% and the U.S. economy employed 133.5 million people. … More

    Economic Impact of Stimulus Spending: A Response to Menzie Chinn

    At Econbrowser, Dr. Menzie Chinn provides a succinct summary of my critique of CEA’s “Economic Impact of the Stimulus” report when he writes, “…these implied increments to growth rates do not jibe with the inferences drawn by Dr. Campbell — that the impact on GDP is much smaller than CEA … More

    Solar Subsidies Fail to Create Green Jobs, Again

    As we reported in today’s Morning Bell,  ABC News reports that despite massive amounts of stimulus funding being spent on wind farms—nearly $2 billion—the vast majority (80%) of it has been spent on overseas companies. ABC contacted Russ Choma at the Investigative Reporting Workshop who suggested that the project has resulted in … More

    Morning Bell: Snow Slows Obama's Second Stimulus

    The snowstorms that have already dumped over two feet of snow on the nation’s Capitol and that are threatening to dump another 12 to 16 inches, have ground the legislative process to a halt. But that might not be such a bad thing. Senate Democrats had hoped they could pass President … More

    Morning Bell: Second Stimulus, Same as the First

    When President Barack Obama was sworn into office, the U.S. economy employed 134.6 million people and the unemployment rate stood at 7.6%. In response to growing job losses, President Obama passed an $862 billion stimulus plan that his economic experts promised would help the United States employ at least 138.6 million … More

    Tax-Credit-for-Hire: Another Failed Stimulus Policy in the Pipeline

    As President Obama continues campaigning for yet another round of stimulus it appears now that even democrats are beginning to question the soundness of this strategy.  This new focus includes a $5,000 tax credit—among other items— for any business that hires a new worker—effective the year the legislation is passed. … More