The Third Anniversary of Obama’s Stimulus
Now, try to imagine the media explosion if a Bush official made the following statement. At this committee hearing, Little Timmy, the tax cheat, Tim Geithner showed up, and he said Obama’s a failure. (paraphrasing) “We have no plan for reducing the deficit.” He admitted it, up front, boldly. He said, “We’re not coming before you to say we have a definitive solution to our long-term problem. What we do know is we don’t like yours.”
That’s what the Treasury secretary said to a congressional committee yesterday. Funny, shocking. After three years the regime tells us they have no solution to the deficit. Not only, folks, do they have no solution, they have no intention, no desire. They’re gonna spend and spend and spend and, if he’s reelected, he’s going to spend and spend and spend.
He wants to go down in the history books as the guy who finally cut the United States down to size, the guy who finally showed the United States what it has been like for the rest of the world because of the United States. If he’s added $5 trillion in these three years, he’ll add another $5 trillion in the next two years if he’s reelected, and then guess what? When we get to 2017, 2018, whoever is elected then will have to deal with this. At that point, will it all be academic and too late? By that time, if the Supreme Court finds the health care bill constitutional, we’re gonna be living in such a drastically different country anyway, will it matter? We’re already heading down the pike where the number of people working is reduced.
I got a very scathing and angry e-mail yesterday from a subscriber to my Rush 24/7 website. The guy said, “You don’t know what you’re talking about. You keep saying that they’ve reduced jobs. It’s not that they reduced jobs, you keep missing it. What’s happening is people are losing jobs.” Let me try this again. They are simply eliminating jobs from the universe of available jobs. They just, in December alone, they just erased 1.2 million jobs. They just said there are that many less jobs to get. Businesses have closed, however you want to imagine that being defined. Those jobs are gone. Fini. They’re not waiting to be filled; they’re gone. Just 1.2 million of them. This is the labor force participation rate. And the only reason this unemployment rate is in the 8% region is because they have reduced the number of jobs against which they are comparing the number of people looking and the number of people who have stopped looking, the total number of people out of work for whatever reason.