Did we say "stimulus"?
You bet we did. And so did Obama.
Well, the first $800 billion Obama stimulus was the largest economic recovery program in history. Adjusted for inflation, it was nearly five times more expensive than the Works Progress Administration. It was bigger than the Louisiana Purchase, the Manhattan Project, the moon race and the Marshall Plan.
Obama himself said the stimulus would bring unemployment below 6 percent right now. Instead, we’re at 8.2 percent. The stimulus failed. Obama failed.
And even if you buy the White House's argument that the $800 billion package created 3 million jobs, that works out to $266,000 per job. Taxing or borrowing $266,000 from the private sector to create a single job is simply not a cost effective way of putting America back to work. For one thing, the long-term debt burden of that $266,000 swamps any benefit that the single job created might provide.
Obamanomics has failed. And the people know it.
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