Category Archives: Stimulus

An Economy on the Rebound

When President Barack Obama took the oath of office on January 20, 2009, the U.S. economy was in free fall. During the preceding year and half, some of the nation’s largest and most important financial institutions went bankrupt, including Bear Stearns, Countrywide, and Lehman Brothers, as risky loans and other investments failed. Many other large banks were on the verge of collapse. The downfall of the financial sector had been preceded by a spectacular end to a massive speculative housing

Did President Obama Double Our National Debt?

Who is the bigger fool….President Obama for doubling our national debt?…or the individual who believes such a canard?  Like all political claims, the devil is in the details. More has been added to our national debt under President Obama than all the other presidents combined.  Partially true.  However, of the $5.1 trillion added to the National Debt from 2009 to 2012, only $1.5 trillion is due legislation signed by President Obama.  Of that $1.5 trillion, only $500 billion in incremental is a hilarious website put out by the DNC. Take the quiz! Mitt Romney’s constantly changing opinions make him a really easy target. This highlights his contradictions on abortion, the need for an economic stimulus plan during the current recession, health care, and more. Romney’s penchant for flip-flopping makes John Kerry look like an anchor of resolve. Here are a few of the infamous Romney quotes: On economic stimulus: “I think there is need for economic stimulus. Americans have

The Stimulus Act Bargain

A point was made a few months ago about the Recovery and Reinvestment Act of 2009 (a.k.a. Obama’s economic stimulus plan) that really made a lot of sense to me. Most of us probably recall the tragic I-35 bridge collapse in Minneapolis in 2007. The cause of the bridge was due to a faulty design– the use of under-sized gusset plates– and an excessive amount of concrete overloading the bridge. The Federal Highway Administration advised shortly thereafter that there were

An Act with a Vision for the Future

Even prior to its enactment, there has been much heated opposition to the American Recovery and Reinvestment Act of 2009, a.k.a. President Obama’s economic stimulus plan. Opponents have tried to smear it as a bill laden with earmarks (which is not true) that wasted money on pointless projects. Opponents have also (correctly) pointed out that it is mostly paid with borrowed money (I’ll come to that later). However, the Recovery Act has gone further than any prior piece of legislation