If a person is hired for 6 months, replaced, and the new person completes the project, does that count as 2 jobs? Government is bragging about 2.5 Million jobs created/saved as a result of stimulus. Money spent thus far, $744 Billion, cost per job just under $300,000. Signed in February of 2009, compared to last month, there are fewer jobs in America. Obama spent all of that taxpayer money and our job levels have decreased!
Yesterday Geithner and Ryan disputed Obama’s plan: “Leaders are supposed to fix problems. We have a $99.4 trillion unfunded liability. Our government is making promises to Americans that it has no way of accounting for. And so you’re saying yeah, we’re stabilizing it but we’re not fixing it in the long run. That means we’re just going to keep lying to people. We’re going to keep all these empty promises going.
So what we’re saying is, in order to avert a debt crisis—you’re the Treasury Secretary, of all people—if we can’t make good on our bonds in the future, who is going to invest in our country? We do not want to have a debt crisis. It comes down to confidence in trajectory. Do we have confidence that we’re going to get our fiscal situation under control and prevent the debt from getting to these catastrophic levels?”
Putting the nail in the coffin he referred to a chart: “If we go back to the preceding chart, Chart 13, you’re showing that you have no plan to get this debt under control. You’re saying we’ll stabilize it but then it’s going to shoot back up. So my argument is, that’s Europe. That is bringing is toward a European debt crisis because we’re showing the world, the credit market’s future seniors—people who are organizing their lives around the promises that are being made to them today—that we don’t have a plan to make good on this.”
The ‘plan’ makes no effort to fix our problems. Growth rate is based on 4%, the best. Use our current 2% and the slant on chart becomes a straight line up.