Mr. Obama speaking at a fund raiser for Democratic governors on 10/01/09 stated that the stimulus bill was working and that he wasn’t going to stop with his job creation until everybody that wanted a job, got a job. He cited the “shovel ready” projects that were putting people back to work; the roads being built and bridges that we being repaired contributed to the economy showing signs of coming back.
Really, just where are these jobs at? There is some road work being done near where I work, but that started two years ago, that wasn’t part of the stimulus package. On my trip to DC for the National Tea Party, I saw signs that stated that “this project funded by the “American Recovery and Reinvestment Act” but I didn’t see anybody working, just some signs and some cones off the edge of the road. This was probably the weakest orange barrel season we’ve seen here in Michigan in 20 years!
If the economy is coming back, why has only 5% of the $787 billion stimulus bill been distributed? This money has been doled out to medical research companies and states like ours to fill in the budget shortfalls. Just how does this stimulate our economy?
As Mr. Obama was making these statements; the AP reported another 550,000+ jobs were lost in September of this year, “an amount larger than expected” the article stated.
It looks to me that Obama is holding on to this money to “fund” Democratic campaigns next year. The Democrats have done the people wrong by passing legislation they have not read. We the people are also ticked off because our government has taken over private sector companies like the auto-makers and the banks and are looking at making the health care and energy companies “government-sponsored enterprises” as well.
Obama knows that he is going to lose some seats in the House come 2010, so he’s keeping this money handy to buy votes next year. By giving Democratic congressmen money for their districts for some pet projects that the media will show off as some huge political manipulation by the congressman in question so that his name will be in the minds of voters when they enter the polls.
As for the government taking over these businesses; all we have to do is to remember that Fannie Mae and Freddie Mac were designed as independent "government-sponsored enterprises" to complement the private mortgage market to compete with finance companies to keep prices down and competition up. Now, Fannie and Freddie account for a combined share of more than 72% of original mortgage loans in the second half of 2008. These two "government-sponsored enterprises" are now effectively owned and run by the federal government and they sustained losses of over $100 billion last year alone.
A Washington-run health care plan will do to the health care market what Fannie and Freddie did to the housing market.