Obama and his administration would have you believe that he saved the economy from a depression unlike any other. Like any liar, Obama has a way of twisting the truth.
Bush brought the unemployment rate down to 4.7 percent. It wasn’t until 2007 when the progressive Democrats took over the majority in Congress, which is when the ridiculous spending started.
It was Congress who had pushed Bush to pass the Toxic Asset Relief Program, known as TARP, that Obama voted for. This bill did nothing to help the subprime mortgage debacle that was linked directly to corruption in the government housing programs of Fannie Mae and Freddie Mac.
As soon as Obama took office, he signed the Recovery and Reinvestment Act. We were told that if this did not pass, we would see unemployment rates rise over 8 percent. It passed and the unemployment rate rose over 10 percent. Actually, the rate is much higher due to factors that were not included in the rate, such as those individuals who are employed part-time, those whose unemployment ran out or they just gave up and students as well as graduates who were unable to find employment.
Now Congress has managed to pass yet another $154 billion stimulus package. Isn’t the definition of insanity when one does the same thing with the expectation of different results?
Daniel Hannon said it best: "You cannot spend your way out of a recession and you cannot borrow your way out of debt." Recently, Congress approved raising the debt ceiling another $1.4 trillion on top of the debt that we have already incurred. Economists are warning that all this spending is creating "potential dire consequences for taxpayers."
Obama has no shame in where the money is going. Do you know what your tax money is funding? Look at some of the projects his administration is proud of: $3.4 million to build a turtle tunnel in Florida, $325,394 to study the "mating decision" of Cactus Bugs and millions were sent to prison inmates in the form of a $250 stimulus check to help the economy. There are other studies that are funded by the stimulus which I’m sure the government could get volunteers to do for free: Syracuse University received $219,000 to study the sex lives of female college freshmen and the list goes on.
Make no mistakes; the fall of our economy was planned. He had said that he would "fundamentally transform America." What did you think he meant by that? The founders of the Constitution had built in fail-safes to prevent such a thing from happening. This may sound crazy however, when 6 percent of the American people believe the stimulus worked and over 80 percent are against the health care bill that they are ramming through. They are no longer listening to the people. Jefferson said: "When the government fears the people you have liberty, when the people fear the government it is tyranny."