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joether -> RE: Five myths about Obama’s stimulus (8/11/2012 11:50:19 PM)
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When it comes to the the American Recovery and Reinvestment Act, is only 8% of Americans actually....READ....the bill. What does that say of the other 92%?
Most folks on either side never read the whole bill for a variety of reasons. Some journalists actually took it upon themselves to explain the key points and the reasons why such a thing made it into the bill. But ignorance of the bill drove more people against the concept. The primary reason for the bill was to advert an economy that was already in a recession from sliding quickly and effortlessly into a depression that would have made 'The Great Depression' seem like child's play. The problem the country experienced in 2009 was a critical shortage of demand for all the supply across dozens of primary industries and a host of secondary sectors. It wasn't going to be a political trophy for the President at the time. Because at the time, all the indicators showed that if something wasnt done immediately, the siutation would grow much worst in the weeks and months.
The GOP was very much against this bill. Some Republicans whom have maintain a moderate outlook and view stood with the President. The Blue Dog Democrats decided that would be a good time to get some....pork....if they stalled just alittle. Well, how many of those blue dog Democrats are still in Congress after all that?
The bill would create an artifical demand for the supply, thereby allowing jobs to be maintained for up to two years (the total length of the bill). Most folks (particularly of the conservative political forum) thought the total price tag would be paid for one year, not two. That information was in the bill if the other 92% had read it. Instead, they listen to conservative talk radio and the rest as they say, is history!
Texas went on record as saying they were not effected by the recession as their budget had not dimished like a host of other states. Until some journalists looked into the records and found they were using the money to offset their budget. Got Texas Republicans into quite a pickle since they publically denounced the bill but were secretly taking the money. Its just to bad all those conservatives were too dim to hold their own party responsible for saying one thing and doing another.
During the second year of the bill, many industries had leveled off and were making positive gains. However, the rate of those gains were much slower than most desired it to be. Conservatives seized this moment to claim two things: A) The economy could be a 'double dip' recession and B) President Obama is spending money we dont have. Both were untrue, but the GOP has been known (and still is known) to fearmonger its supporters into submission. By the end of the bill's term, some industries had made it back into positive grounds; as if the past two years were a slow down rather than a full recession or dreadful depression!
I recall quite a number of economists stating that if the bill had gone further for one more year, spending another $400-450 Billion the remaining industries and sub-sectors would have been back in positive territory. HOWEVER, the GOP could not allow this to happen! They had to make the failed economy all President Obama's fault, not the GOP's. To that end, used quite a number of 'misinformation' sources to seed fear and dread into voters for the 2010 mid-term elections. The facts and evidence were far different from the fantasy the GOP tried to push. If that extention had gone through, its highly likely most sections of the USA would not be in a recession today.
On a side note, if the Bush Era Tax cuts were to expire like they should have in 2010, its more than likely the deficit would have been evened out, if not a surplus. Yet again, the GOP did everything in its power to make sure this event NEVER took place.
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