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Tuesday, April 06, 2021

Remember all those shovel-ready jobs that weren't?

Democrats plan to spend $2 trillion on infrastructure. Before we do that, let's look back on the $787 billion Democrats blew the last time they controlled Congress and the presidency.

The American Reinvestment and Recovery Act was supposed to save jobs and improve our roads, bridges, and airports.

Obama sold it as a preventative to further job losses. He told ABC, "Here's what we know though, that the sooner a recovery and reinvestment package is in place, the sooner we can start turning the economy around. We can't afford three, four, five, six more months where we're losing half a million jobs per month.

"And the estimates are that if we don't do anything, we could see 4 million jobs lost this year."

Instead we blew nearly a trillion bucks and lost 3,443,000 jobs anyway. The numbers are here.

He said if we did nothing unemployment would hit 9%!

It hit 10%.

In fact, the recovery act slowed down the recovery. The unemployment rate was 7.8% when he took office, and 7.8% when he was re-elected.

In between times was a lot of pain and misery for the people, and pockets lined with cash for Democrats.

Contrast and compare to the 14.7% rate last April that President Trump cut to 6.3% when he left office 9 months later.

That is the difference between a capitalist and a socialist. A capitalist solves a problem while a socialist prolongs it to expand his power. They never let a crisis go to waste.

Speaking of waste, here is what Citizens Against Government Waste said on October 14, 2011: "There is little evidence for any correlation between infrastructure spending and short-term job growth.

"Analysis of the economy 10 months into President Obama’s first economic stimulus plan, cited in a January 12, 2010 Associated Press article, found that, 'A federal spending surge of more than $20 billion for roads and bridges in President Obama’s first stimulus has had no effect on local unemployment rates…, it didn’t matter if a lot of money was spent on highways or none at all: Local unemployment rates rose and fell regardless. And the stimulus spending only barely helped the beleaguered construction industry.'

"When questioned at a June 13, 2011 meeting with his Council on Jobs and Competitiveness about the tortuous permitting process for construction projects, President Obama quipped, 'Shovel-ready wasn’t as…uh…shovel-ready as we thought.' While this explanation might satisfy a room full of friendly supporters, it is doubtful that the millions of jobless across the nation are finding much to laugh about in this dismal economy."

***

The only shovels ready were those of investors, er donors, who shoveled their pieces of the pie into their bank accounts.

And who headed the project?

Biden.

A 12 years younger and unsenile Biden at that.

Defenders of this boondoggle say, well, part of that $787 billion went to tax breaks, which only underscores how bad this went.

President Trump's tax breaks took unemployment down from 4.7% to 3.5% in three years.

That means that in three years, the unemployment rate should have dropped from 7.8% to 6.6% using tax breaks alone.

Instead it rose to 9%.

What should have been a 1.2-point drop became a 1.2-point increase. 

On the third anniversary of the shovel-ready jobs act, Reince Priebus pointed out what the press refused to say: Obama failed.

Priebus wrote, "First, Obama's economic advisers promised the stimulus would keep the unemployment rate below 8 percent. In 2012, the unemployment rate was supposed to fall below 6%. The prediction was not meant to be taken lightly. In a January 2009 radio address, Obama announced he was releasing a report based on rigorous analysis that charted unemployment through 2013 so 'the American people can see exactly what this plan will mean for their families.'

"Today, 12.8 million Americans are unemployed, 8.2 million cannot find enough work, and 1.1 million have given up looking for work altogether. Unemployment still remains above 8%, the supposed maximum rate, and certainly above 6 %. For 36 straight months, unemployment has been higher than what the president promised. That's more than a rounding error; that is a failure of leadership."

Obama lied. He got the money. His bag man, Biden, handed it out. The press never held him accountable.

Chairman Xiden thinks it is his turn now.

24 comments:

  1. The Signs Posted were very informative and attractive. The people who made all of them did really good work. /sarc

    ReplyDelete
  2. A major corporation had a friend seek shovel ready jobs to bid on; he found 3 minor projects and they had him stop looking.

    ReplyDelete
  3. "Contrast and compare to the 14.7% rate last April that President Trump cut to 6.3% when he left office 9 months later."

    Further, Q2 2020 GDP declined by 34%, while Q3 GDP increased by 38% !

    Yes, I certainly voted for Donald Trump.

    (Who wouldn't ?)

    ReplyDelete
  4. "It's a three-letter word. Jobs. J-O-B-S." - Vice Resident Bidet*

    ReplyDelete
    Replies
    1. No real conservative calls him that.

      Delete
    2. I call him that.

      Give it a rest, Special Ed. Your crap is getting old and nobody here likes you.

      Delete
  5. So in reality he was the vise president, squeezing his marks for all he could get.

    ReplyDelete
    Replies
    1. No, it was a payoff for them to get elected (if, in fact, they really were elected).

      Delete
  6. When Obama says "shovel-ready," I know what he is shoveling.

    ReplyDelete
  7. In 2012 the GOP nominated a capitalist and a globalist. His name is Mitt Romney.

    Mitt the Squish is a rich member of the GOPE. He was good at two things - making money and losing gracefully.

    ReplyDelete
    Replies
    1. And yet, Zippy felt threatened enough to steal that election.

      Delete
  8. Xiden may have been 12 years younger and not senile, but he was still a dim bulb.

    ReplyDelete
    Replies
    1. When you look art all the times he was caught cheating in his life, it's pretty clear he was never very bright.

      Delete
  9. Supposedly, it's a dodge to get the Green Nude Eel passed. Along with all the payoffs.

    The only thing we got from the last stimulus was those !@#$%^^&&* roundabouts.

    ReplyDelete
    Replies
    1. So that's where the funds for those damned roundabouts came from!
      Don't get me wrong, I love the efficiency of roundabouts but when the put two of those into my neighborhood they took a boulevarded street with two lanes each direction and reduced it to one lane each way and a bike path each way that no one uses. Literally have never seen a bicycle on it in the span of several years.
      To top it off there's a fairly large percentage of people who don't know how to use a roundabout.
      Like the guy from Honduras who hit me in one of the roundabouts three weeks ago.

      Delete
  10. Turns out Ted Kennedy was the only shovel ready project.

    ReplyDelete
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    ReplyDelete
  12. "A 12 years younger and unsenile Biden at that."

    Biden might now have been senile back at that point but it was the dumbest senator to ever serve in the US Senate. He was the dumbest Vice-President ever to serve. And guess what? He's the country's dumbest person to ever been elected President. It seems many have forgotten he had to cheat and plagiarize his way all through school.

    ReplyDelete
  13. obama spent all of that money in bright blue democrat districts across America. It was a democrat love-fest.

    ReplyDelete
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  15. A long time ago, when I first started paying taxes, I thought the tax was to pay for SERVICES to the American people. To provide the protection from the Armed Services, to the courts to protect justice and freedom,to maintain our infrastructure and do what the majority of voters wanted as far as new projects that would benefit the majority of American. I have since woken up to the nightmare that my taxes only bankroll special interest projects, try to buy off other countries and to enrich our politicians. It is a sad state of affairs, but at least with the last administration there was hope that things were turning around and would be Americans first. Those improvement were short lived as liberal people once again believe the repetitive rhetoric of the liberal politicians. What will it take for Americans to realize what they have and are giving up?

    ReplyDelete