Obama Creates Zero Jobs in August Despite Heavy Stimulus Spending
President Obamas nearly $1 trillion dollars in stimulus spending is not a thing of the past, the American Recovery and Reinvestment Act continues to spend billions of your tax dollars, and with no apparent benefit to the American people.
Today the Bureau of Labor Statistics reported that job growth nationwide held steady; that is to say that employment growth was stalled at 0.00%. For an economy with a government-reported unemployment rate of 9.1%, and real unemployment (remember the government quits counting if you take a part-time job) of 22.7%, and it is easy to explain why Americans are quickly losing confidence in Presidents Obama economic leadership.
Next week President Obama will appear before a joint session of Congress and deliver his much anticipated (by the press) jobs speech. Yet, we already know what the President will say; that America needs to invest in infrastructure and the government needs to get people back to work. Vice President Joe Biden recently provided a preview of the Administration’s jobs plan by arguing for another round of stimulus spending: I think the economy does need more stimulus
Think the means we took Bidens quote out of context? Heres how the Vice President ended his remark: “Everybody says we should’ve (had)…a bigger stimulus package. Yeah, we should’ve. I was pushing for it.”
What the Obama/Biden Administration fails to realize is that ARRA is still spending taxpayer dollars and is bearing no fruit.
In the month of August 2011, when zero jobs were created, the Obama stimulus program spent hundreds of millions of dollars on projects ranging from library construction in Pawnee City, Nebraska ($332,000) and Amtrak funding along the Northeast Corridor ($745 million). Worthy of note, the press release dated Aug. 22, 2011 promised the Amtrak stimulus spending would create 12,000 new jobs; yet the BLS August jobs report announced 0.00% job growth.
While specific August stimulus numbers will not be available for awhile, it is possible to estimate the enormous amount of spending that took place in August by browsing the Administration’s press releases announcing stimulus spending, which you can do by clicking here.
Its readily apparent the Obama tax-and-spend approach to job creation does not work.