Out of Control Policy Blog

Economic Recovery By the Numbers

Here are some numbers in reference to the economic recovery that will make your spine crawl:

  • 0 – the number of Senators and Representatives that read the whole Stimulus bill before voting to pass it
  • 2.8% - the increase in unemployment since the Bailout (TARP) in September 2008... as of April 2009 we are now at 8.96% unemployment
  • 3 hours – the time Obama waited to sign the SCHIP Healthcare bill… after promising to wait five days to sign any bill so the public could review and comment on the internet
  • 15 years – since the last Federal tax increase... the ironman record was broken by SCHIP earlier this year
  • 39 – banks have been seized (nationalized and resold to the private sector) by the FDIC in 2009
  • 563 – banks have been bailed out through TARP
  • 1,053 pages – in the American Recovery and Reinvestment Act (The Stimulus)... bringing transparency to government
  • $8,000 – the increase in spending per household by the Obama budget
  • 9,286 – earmarks in the 2009 Omnibus spending bill… after the President promised to end wasteful spending
  • $250,000 salary – the arbitrary wealth line now in vogue… because at $249,999 a year, then you’re still considered poor, but at $250,001 you’re filthy rich and not paying your fair share
  • $165 million – the amount it took for America to finally get upset about wasteful government spending (AIG bonuses)
  • $15.4 billion – the total Stimulus money spent two months after passing… so why was the recovery package rushed through Congress if the money was going to trickle out so slowly?
  • $33 billion – the tax increase on cigarettes to pay for SCHIP, which will affect many low-income Americans… after Obama promised no tax increases for low-income Americans, though that's where the smoking tax hits hardest
  • $787 billion – the amount deemed necessary to restart the American economy (The Stimulus)
  • $10.4 trillion – total spending and loan commitments by the federal government to fight the recession since 2008 that was NOT approved by Congress (authorized unilaterally by the Fed or FDIC)
  • $12,866,700,000,000 – total spending and loan commitments by the federal government to fight the recession since 2008

Anthony Randazzo is Director of Economic Research


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Comments to "Economic Recovery By the Numbers":

MAS1916 | May 7, 2009, 2:47pm | #

Great numbers!

Team Obama is fixated on the meager 'cuts' they say they've made in the federal budget. Following roll out of a trillion dollar budget, the President's economic spokesmen were all over the news this noon celebrating the 17 billion dollars, or less than one percent of the entire budget.

Obama is counting on his cheerleaders at CNN and MSNBC to talk about the supposed 'cuts' rather than the outrageous increase in spending. Will the voters accept this?

Voters may accept this for a little while longer. Voters hate to say their November decisions were wrong. However, unemployment and inflation will eventually make that case.

Obama uses words and CNN to mollify the masses. He overuses some words like 'inherited' to deflect blame. For a satirical list of other overused Obamawords, you can hit:

http://firstconservative.com/blog/top-ten/obamas-words-or-obamawords



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