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Unloved Stimulus

July 16, 2009

IBD: 15 July 2009

Spending: The stimulus isn’t working, and Americans don’t want another. At least, that’s what our latest IBD/TIPP Poll shows. So why is Congress mulling a second stimulus when the first has so obviously failed?

In our national poll taken last week, 53% said the $787 billion stimulus plan passed in February was “not effective” in “getting the economy going in the right direction.”

……

So while we have very little economic activity to show for all the stimulus and bailout money spent, we’ll have a massive debt hanging over our collective heads for decades to come.

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With joblessness now at 9.5%, White House economic adviser Christina Romer on Tuesday admitted there was no way to tell how many jobs were created or saved. Stimulus, it seems, is faith-based economics.

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Hasn’t anyone noticed that despite a 20% jump in spending over the last year, tax revenues have plunged 18% — largely because many of the “millionaires” Congress is going after are going broke?

So are the rest of us. Web site E-forecasting.com estimates the U.S. has lost over $108 billion in real GDP since the stimulus began.

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One comment

  1. The current administration is the most fiscally irresponsible bunch in decades.



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