Stimulus Turns One!

The $717b 2009 Stimulus Bill turns one year old today. Just under $300b of that amount has been spent to date with no discernible benefit. The rest is expected to be spent over the next 12 months or so.

Although President Obama is going to great pains to talk about just how much the stimulus spending has done for the country, the fact of the matter is that the nation's unemployment rate has increased from 7.6% to 9.7% over the last twelve months despite all of the "stimulus".

The stimulus money is money that has either been borrowed outright by the government or has been created out of thin air (by purchases from the Federal Reserve out of money they created themselves). Not that the federal government believes any of this information is relevant enough to adequately disclose this to the American people.

The fact is that the stimulus policy is not working, is lumping unconscionable amounts of debt on future generations, is putting the country at risk of significant amounts of inflation and needs to be canceled.

America must return to balanced budgets, low taxes and streamlined government spending in order to get its economy roaring again. Politicians owe it to the American people to do just that.