Today is the anniversary of the Obama Administration’s “Recovery Summer,” which was sold to taxpayers as the dawn of explosive economic growth directed by government expertise and fueled by the White House’s “stimulus”.
Yesterday the American Recovery and Reinvestment Act, better known as the 2009 stimulus, turned five years old.
We decided that since today is the 5th anniversary of the 2009 stimulus bill, we’d look at some key economic data points from the stimulus’s brief, but tumultuous history.
The American Recovery and Reinvestment Act – better known as the 2009 stimulus – is five years old today.
The America Recovery and Reinvestment Act, often called the 2009 stimulus, will be five years old this month.
Late last year the U.S. Treasury Department Inspector General (IG) for Tax Administration released a preliminary report examining potential fraud in energy investment grants.
One of the most underreported promises President Barack Obama made in his State of the Union last Tuesday was this one: “I will act on my own to slash bureaucracy and streamline the permitting process for key projects, so we can get more construction workers on the job as fast as possible.”
In 2008, the U.S. economy was already reeling from the burst housing bubble, a liquidity crunch, and large financial institutions teetering on the edge of failure. Starting that September, the confluence of all those factors “culminated in a string of unprecedented events and government interventions” that marked the escalation of the financial crisis.
Last week, The Washington Times released a story detailing five jobs programs that cost taxpayers at least $100 million per year, yet showed little results.
President Obama is taking full credit for the improved budget outlook even while railing against the spending cuts that help shrink the deficit.