The Porkulus Bill – One Year Later

by Sal on February 17, 2010

in Economy,Politics

The stimulus Porkulus Bill is one year old today.  It was signed into law by President Obama on February 17, 2009, with many promises:

  • The porkulus promised to “create or save” 3.5 million jobs.  Since February 17, 2009, we’ve lost 2.4 million jobs.
  • The administration promised that, with the porkulus, unemployment would cap out at 8%.  Unemployment reached 10.1% last year before receding to its current level of 9.
  • The porkulus was supposed to cost $787 billion.  It’s costs have risen to $862 billion.
  • Most of the porkulus expenditures were supposed to be temporary.  They have been made part of Obama’s budget baseline.

Whatever way you slice it, the porkulus has been a failure.  The economy is still in shambles, with more warning signs on the horizon.  Yet the administration feels the need to tout its success.  Fortunately, the American people can see right through the B.S., and realize what we said from the beginning – that the porkulus would be an unmitigated disaster.  It has failed to create jobs, it has failed to lift a flailing economy, and it has proven once and for all that the liberal Keynesian Economic theory of economic stimulus simply does not work.

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