The Practical Philosopher's Blog

Using the practical application of timeless wisdom to address modern issues

The Stimulus is a failure, not a Success, Biden

Vice president Biden has come out recently touting that the ‘Stimulus’ spending bill has somehow worked to ‘stimulate’ our economy, and worked faster than expected!

Does anyone really believe this? Or him?

In a series of articles I researched across the spectrum, the amount of stimulus ‘cure-all spending’ that has been spent thus far is less 15% of the total and will not exceed 25% by year end. Yet, here is Biden, master politician that he is, saying that it’s working- and working faster than expected. But how could this be if next to none of this monstrous amount has ACTUALLY been spent?!

If it’s the BILL that worked, then they GROSSLY overshot or exaggerated the amount of our tax dollars that needed to be wasted and/or given away. This would also show again how horribly inefficient and slow the government is to react to crises. 

If it’s the ECONOMY that has made significant recovery this quick, then he shows that hey are clueless again because that means it happened/was driven by other forces like the private sector, not their beloved Soviet-style, central government planning.

Another indications of Biden’s/The White House’s economic ‘brilliance’ :

Biden: “…the [stimulus] plan has created or saved 500,000 to 750,000 jobs so far.”

The jobless rate has gone way beyond what they said the ‘stimulus’ plan would stop (8%) and was continuing to increase at the time of his speech! That’s incredibly bright and nuanced of him! Multiple millions of jobs lost and he touts a micro amount of jobs with a unverifiable ‘saved’ clause to even get to that small of a number ( like 10 green ‘jobs’ created and 740,000 ‘saved’).

No matter how you slice it, an American of average wisdom would call his ‘stimulus’ speech an insult to their intelligence or just plain dishonest.

The ‘Stimulus Plan’ should be immediately repealed and the rest of the $787 billion should be immediately sent back to the tax payers to spend as they see fit. Why won’t that happen? It does nothing to grow government power or control the individual.

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Filed under: Economy, Politics, , , , ,

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