The White House says the multiyear $814 billion stimulus program passed by Congress in 2009 boosted employment by 2.5 million to 3.6 million jobs and raised the nation's annual economic output by almost $400 billion. A recent study by two prominent economists generally agrees, crediting the pump-priming with averting "what could have been called Great Depression 2.0."
If President Obama expected anyone to say, "Thank you," however, he's been disappointed. In a recent USA TODAY/Gallup Poll, 59% of respondents disapproved of the president's handling of the economy. In the partisan war over the economy's performance, the word "stimulus" has became synonymous with "boondoggle," making the notion of a repeat any time soon highly unlikely — especially if Republicans seize control of one or both houses of Congress in November.
This is the kind of thing that dismays me. The stimulus was not enough -- and it was known at the time that it would not be enough -- but blustering Republicans opposed it and pansy Democrats caved and weasled to a lower amount.
OK, that lower amount probably saved us from a second great depression -- happy about that. But fer fuck's sake, the Dems had majorities everywhere and they couldn't muster up the courage to do what needed to be done? Too bad.
And it is a shame that Obama is getting the blame for all of the economic woes. Sure, some of the blame belongs on him for not doing enough... but when it comes from those blowhard know-nothing fucksticks on Fox, that is ridiculous.
Now the right is crowing about extending the Bush tax cuts for the wealthy because that will stimulate the economy. Bullshit! I'm tired of hearing the rightwing lie that tax cuts create jobs. They don't! They create more wealth in the pockets of the wealthiest.