Three years to this day, the benevolent one, Barack Hussein Obama, signed into law the American Recovery and Reinvestment Act, aka, the Stimulus Package. With this massive government intervention of outdated and grotesquely implemented Keynesian economics, we were promised 5% growth and unemployment no higher than 8 percent.
Thanks in large part to it, every man woman and child now owes short of $50,000 (before unfunded liabilities) a piece as the Obama administration breaks deficit records. In a scant three years, 4.7 trillion has been added to the debt.
What have we gotten in exchange?
A real unemployment rate of 16%, a shrinking labor market down to 58% (whereas 65% is considered normal), near doubled gas prices, kids moving back into their parents homes with delayed opportunities to get married and start homes, a gutted housing market, and 45 million people on food stamps.
Good job Mr. President.