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Exactly 11 years ago today, February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 or the Recovery Act into law. The $831 billion in spending kicked off the longest period of economic growth and job creation in American history.
Remember when we had a real President who knew what he was doing, and surrounded himself with actual experts instead of lackeys, shysters, con artists and family members?
Remember when we had a real President who knew what he was doing, and surrounded himself with actual experts instead of lackeys, shysters, con artists and family members?
I do.
The Porkulus Act of 2009 not only had nothing to do with the economic rebound from 2008's Great Recession, it actually slowed the pace at which that recovery occurred.
Do some research beyond headlines an bumper stickers, and you'll see that was a hamfisted give back to Democrat donors that trickled the total funds out over time to shield the optics from the American public, and it included rules and regs that actually made recovery slower.
The ARRA is what pulled our economy out of a recession and has lead to 7 straight years of growth.
It was a Public and Private UNION payback scheme as well as payback to other cronies that donated to his campaign. It slowed the recovery. The Federal Reserve is responsible for any "recovery", not Obama.
The ARRA is what pulled our economy out of a recession and has lead to 7 straight years of growth.
Did nothing of the sort, since it didn't invest in anything except paying back Democrat donors. But hey, he's a deity to you folks, so keep believing these various water into wine miracles actually happened.
The essential finding being that US economic growth is likely stuck at 1.5, perhaps 1.75% of GDP each year. This is not good news--we'd all prefer it were rather faster than that. It also can be taken as evidence that there's something wrong with our economy and that would be to take matters a little too far. There might certainly be things we can do to improve matters, yes, but that current and future growth rates are significantly lower than past ones does not, sadly, mean that we must currently be in error.
Clinton lost the election because the Obama economy was stuck in the mud.
The other thing is that GDP is not the sole indicator of a good or bad economy. People were slow to invest in America. Many jobs and production remained overseas. Higher taxes and overbearing regulations held back employers from producing more and hiring. The OP's article is sort of misleading when looking at all of the factors.
The Porkulus Act of 2009 not only had nothing to do with the economic rebound from 2008's Great Recession, it actually slowed the pace at which that recovery occurred.
Do some research beyond headlines an bumper stickers, and you'll see that was a hamfisted give back to Democrat donors that trickled the total funds out over time to shield the optics from the American public, and it included rules and regs that actually made recovery slower.
You right wingers are really brainwashed. Why don’t you listen to economists and take a break from Hannity and Limbaugh. I’ve kindly provided you with links to sources.
In our area, the obama 'reinvestment' money went to build miles of sidewalks along a busy 4 lane highway (on both sides) that as of today I doubt that 100 people have ever used.
4 years after that stupid pile of liberal "ithinkthiswillwork". Time Magazine said it didn't work.
a decade later when the economy is blasting, all the libs are now taking credit.
whats your next demand? want us to offer our thanks for the democrat party ending the Vietnam war?
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