President Obama in St. Paul, Minnesota announced he will propose a $302 billion infrastructure funding program to span four years. He also announced that localities can compete for $600 million in grants under the Transportation Investment Generating Economic Recovery program. “These are competitive grants that were created as part of what we call the Recovery Act, also known as the stimulus, which actually worked despite what everybody claims.”
President Obama is rapidly becoming the Chief Executive of Lies. By ever measure his stimulus was a dismal failure. Remember his original stimulus was supposed to be a great job creator with “shovel ready jobs.” Obama himself said there were “No shovel ready jobs created” about a year or two ago. So now he has denied what he personally called a failure. Through his recent speech he has called himself a liar.
His stimulus was a failure for a variety of reason chiefly political. There were too few jobs created and those that were created cost over a million dollars each. Only 10 percent of the stimulus money actually went for infrastructure projects. ABC News reported that many of the infrastructure contracts went to Chinese companies and not American companies. The other 90% was spent of green energy and other pet projects that were paybacks to unions for their support in his presidential campaign especially educational unions.
Obama had promised that his stimulus would shrink the unemployment rate to 5% by 2013. It never happened. Instead, the Congressional Budget Office has projected that by 2017 the unemployment rate will only drop to 5.8% after Obama leaves office.
Obama compounds his lies by making statements that are blatantly false. For example, if the stimulus was so successful why have construction jobs declined by more than 500,000 workers according to the Bureau of Labor Statistics. Even the nonpartisan Factcheck.org reported in June 2011 that the “CBO’s high estimate is still short of the 3.5 million jobs that Obama had said would be created by the end of 2010, so it’s accurate to say the stimulus has failed to live up to initial expectations.”
By every measure the stimulus was a failure. Yet he and his supporters rationalize the failure by claiming it was a success. They tell lie after lie. No wonder the American public doesn’t trust him.