Keynesian Catastrophe: On Fifth Anniversary, Stimulus Results Were Not What Obama Promised (Video)

A Keynesian Catastrophe–
This week is the fifth anniversary of the Obama-Pelosi stimulus.
And the results were not what Obama promised.

It was a bust.
The Wall Street Journal reported:

“The $830 billion spending blowout was sold by the White House as a way to keep unemployment from rising above 8% . But the stimulus would fail on its own terms. 2009 marked the first of four straight years when unemployment averaged more than 8% . And of course the unemployment rate would have been even worse in those years and still today if so many people had not quit the labor force, driving labor-participation rates to 1970s levels.”

And Zero Hedge provided this helpful stimulus chart:
stimulus cost
It cost taxpayers roughly more than $0.50 for each and every dollar of economic growth over the last 5 years. $206,879 for every job created. $0.84 for every dollar of real personal consumption expenditures and $0.90 for every dollar of increase in real personal incomes (not including government transfers).

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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Thanks for sharing!