Time flies when you’re having fun, doesn’t it? Three years ago today, our Dear Reader signed that “urgently” required “stimulus bill.” In fact, it was so “urgent” that, after insisting that it be passed by Friday, 2/13/09, Barack Obama left town without signing it. Instead, he took his squeeze, the repellant, race-obsessed Michelle, on his private, albeit taxpayer-funded, jet and and headed back to Chicago for a Valentine’s Day date night, one of the first in a series of glittering, glamorous soirees for the golden couple.
He signed this essential, economy rescuing legislation the following Tuesday. This bill had some liberals, still basking in the afterglow of their year-long hopey-changey orgy, a bit befuddled. In a preview of coming attractions, the One, who had promised an administration of unparalleled transparency, chose to enact his bill under the cover of darkness. From Slate:
Obama promised his administration would be so transparent that its deliberations would be shown on C-SPAN. Had cameras recorded negotiations on the stimulus bill, it would have looked like a scene fromAnimal Crackers. As Jeff Zeleny reported, the stimulus deal was so opaque even the people negotiating it weren’t in on what was in it.
That’s weird,isn’t it? It’s also strange that the 3rd anniversary of this all important bill has come and gone with no White House fanfare …no celebrity-studded event, no photo op. I don’t think he mentioned it today during his victory lap at Boeing. It’s almost as if they don’t want us to remember it. Perhaps it’s because this grand plan’s results don’t earn even that “solid B+” that Barry gave himself. From Investor’s Business Daily:
So three years later, how do the stimulus results stack up? Here’s where various indicators stood in or around February 2009, and where they stand today.
Unemployment rate: The jobless rate is unchanged from February 2009 to January 2012, the latest month for which we have data. Both stood at 8.3%, according to the Bureau of Labor Statistics. Obama’s economists had initially predicted that with the stimulus, unemployment would stay below 8%.
Number of long-term unemployed: The number of workers who have been unable to find a job in 27 months or more has shot up 83%, with their ranks now at 5.5 million.
Civilian labor force: It has shrunk by 126,000. In past recoveries, the labor force climbed an average of more than 3 million over comparable time periods.
Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%, labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower participation rate makes the unemployment rate look better.
Household income: Median annual household income is about 7% below where it was in February 2009, according to the Sentier Research Household Income Index.
The “shovel ready jobs” weren’t as “shovel ready” as he thought, he joked. Fortunately, this bill did contain funding for his health care bill’s panel of 15 unaccountable bureaucrats whose decisions about rationing health care will be final, the Independent Payment Advisory Board. Given the complete failure of this “stimulus” to our economy, am I falling prey to the corrosive cynicism that afflicts so many to think that maybe the IPAB was the point of the “stimulus” all along?
As the old song goes, memories, may be beautiful and yet what’s too painful to remember, we simply choose to forget. If the GOP wants to win the election, they can’t let Obama forget his lies and lack of transparency, not only about this phony “stimulus,” but about his entire failed presidency.