Did the “Stimulus” Help Our Economy?

According to Congressional Budget Office (CBO) estimates, the Stimulus package put together by Barak Obama and a panicked Congress will have “a net negative effect on the growth of GDP over (the next) 10 years." In addition the cost of carrying the debt will “represent a drag on the level of GDP beyond that, if no other actions were taken."

For politicians in Washington who apparently don’t understand what GDP means, you people have guaranteed higher rates of unemployment, and negative to inadequate real income prospects, for most American workers over (at least) the next 10 years.

And you do not have a credible economic plan. In fact, you don’t have any economic plan. The so called “Jobs Bill” is just another collection of transfer payment goodies for your political supporters. It does virtually nothing to create private jobs because it does little or nothing to address waste, corruption, excessive regulation, oppressive bureaucracy, crony capitalism, and a bunch of other issues you people are too disorganized and too faint-hearted to tackle. As a result, your “plan” is to further decimate America’s middle class and create an even greater divide between high and low income earners.

Thank you Congress. Thank you BO. Thank you and your cronies on Wall Street.

TCE