Obama Spent $4 Trillion on Stimulus With No Real Result And America Is Quickly Approaching Another Catastrophic Economic Collapse
Investmentwatchblog.com
July 31st, 2013
Obama Spent $4 Trillion on Stimulus With No Real Result
Slow growth and increasing inequality are ripping the social fabric of America — vanquishing the dreams of working families, saddling the young with onerous student debt and frustrating retirement plans.
President Barack Obama is stirring passions by proposing government initiatives he hopes will stifle House Republican efforts to curb federal spending, but those can only end in tears.
Early in his first term, he pushed through more than $4 trillion in deficit spending on stimulus, broader Medicaid benefits, alternative energy projects and other industrial policies.
Through last fall, growth was an anemic 2.1 percent and has since slowed by half.
He blames sequestration, which subtracted about $45 billion from government spending.
However, his rhetoric ignores $200 billion in higher taxes he demanded from Congress in January, and the doubling of the trade deficit on oil and with China to $540 billion since the recovery began.
Sequestration will remove about 1 million jobs, while higher taxes and the trade deficit will cost Americans more than 10 times as many.
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