Obama Fails
By J.R. Dunn, American Thinker
Over the past couple of weeks, it has become apparent even to politicians and the media that the Demented Spree Act of 2009, better known perhaps as the "Obama Stimulus", has not worked, and shows no sign of ever working.
Unemployment -- the professed reason for the stimulus in the first place -- is now at 9.5% and will break 10% within the next few months. Credit remains tight and industry is still fumbling.
It is clear that there are no shortcuts back to a steady prosperity, that this recession will be overcome in the exact way such disasters always have been -- by working our way out of it.
The $787 billion ("real money", as Everett Dirksen would have put it), already spent, being spent, and to be spent, can be considered as so much waste paper.
The interesting thing about this is the reaction of our media and political elites -- or rather, the lack of reaction. They're behaving as if flushing away three-quarters of a trillion dollars is trivial. The failure of the greatest act of financial pump-priming in history has elicited no more than a collective shrug.
Cognitive dissonance doesn't come more obtuse than this. Our great opinion leaders have stumbled over a huge pile of facts having serious bearing on O's future prospects and rather than pausing to take a look have instead gotten to their feet, brushed themselves off, and hurried away exactly as if nothing happened. The pretense appears to be that the fate of the stimulus has nothing at all to do with the rest of Obamus Maximus's policies.
Read the Rest of the Story:
No comments:
Post a Comment