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Stimulus Watch
Posted by Randy | November 16, 2009

I came across this chart from the Ways and Means Committee last week. Despite the Administration’s claim that the trillion dollar stimulus package is working, the U.S. economy has lost nearly 3 million jobs since February when the stimulus legislation was passed. U.S. public debt, on the other hand, has soared:


I spoke about this very issue on the House floor in February when I voted against the economic stimulus package. You can watch those remarks here.
Comments
The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
  • Mark Cernak commented on 11/17/2009
    The United States with the help of the Obama administration is selling the country to China you know the communist regime. Lets recap China owns about 1 Trillion of our debt, they our buying up resources worldwide, and then their currency manipulation (which they will not talk to US and anyone eles about). President Obama really impressed the Chinese leadership recently, lets see he bowed down to the emperor, listen as he was chastised about US debt, Obama even stated that we do not want to contain China (thought that was part of our geo-political strategy - stop communism), the President states that China's infrastructure is far superior to the United States! The President and his administration really impressed the Chinese leadership so much that his request to have his speech and proceeding broadcast to the people of China went on death ears. The China's government not only blocked the air waves they also blocked the Internet from broadcasting his speech. And anyone who thinks that China's is getting more democratic think again. Do we really want to be in debt to a country like this! This relationship will continue to worsen as long as Washington keeps spending because China is our banker and more sooner than latter they will start putting more stipulations on the USA that will demote us to being their servant. Government spending provides little help to the economy just look at all the spending FDR did and all it did was prolong the Great Depression 10 years. Look what the stimulus bill have done nothing. Remember before the last stimulus bill the Obama administration said if it did not pass that we would have 8.5% unemployment. Well they passed it and we have 10.2 % unemployment! Then there is big Wall Street -Goldman Sacks which the President has made a bank so now they can borrow money from Federal Reserve at prime interest rates. Of course this has nothing to do with the fact that Goldman-Sacks was the President biggest contributor! Big Wall street like Goldman-Sacks is nothing more than a government bureaucracy which also bows down to the Chinese leadership. Big Wall street only cares about the "money" never mind that they are dealing with a Communist nation which is opposed to our way of life and would like to change it. But we still have leverage and that is China needs a place to invest and we have been the place for this. And to exercise the continuation of this we have to cut spending, address the trade deficit, and strengthen the dollar now!
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