The Obama Stimulus Has Failed
Look, we know that Obama’s stimulus plan, Obama’s stimulus was nothing more than a money laundering slush fund. We know that now. We know that in any number of ways, learning it most recently from Wisconsin. A full 80% of the money that Wisconsin got went to the public sector unions — and, of course, that money, a percentage of that just goes right back to the Democrat Party. But let’s say — just for the sake of discussion, playing devil’s advocate, let’s — that Obama is simply is a misguided, well-intentioned statist; and he really believes that massive government spending to the tune of a trillion dollars will grow an economy and create jobs and all that. You need to first ask a question: How do we define growth? Is growth not the pie getting bigger?
Economic growth that the gross domestic product — the economic output, the sum total of it — increases, meaning brand-new jobs are created. People with jobs are compensated with raises, higher incomes. New products are invented, and the pie grows. That’s what economic growth is. It can be nothing else. Otherwise you have stagnation — or if you have depression, you’ve got negative growth, which is the economy shrinking, getting smaller, which in fact is what’s happening. Okay, so we’ve defined growth. Now we ask ourselves: How does it happen? The government wants our economic pie to get bigger — and here comes Obama, saying, “Oh, I got the plan.