On February 17, 2009, Obama Signed The Stimulus Into Law, Promising It Marked “The Beginning Of The End” Of America’s “Economic Troubles.”“President Obama on Tuesday signed the $787 billion American Recovery and Reinvestment Act into law… ‘Today does not mark the end of our economic troubles,’ Obama said before signing the bill at the Denver Museum of Nature and Science. ‘But it does mark the beginning of the end – the beginning of what we need to do to create jobs for Americans scrambling in the wake of layoffs; to provide relief for families worried they won’t be able to pay next month’s bills; and to set our economy on a firmer foundation.’” (Jeanne Sahadi, “Stimulus: Now For The Hard Part,” CNN’s Money, 2/17/09)
FOR EVERYONE – INCLUDING OBAMA – THE STIMULUS FAILED TO LIVE UP TO EXPECTATIONS
In 2010, Obama “Admitted That The Enormous Sums Of Money” In The Stimulus “Had Fallen Short.” “Yet he also admitted that the enormous sums of money had fallen short. ‘If we’re honest, part of the controversy also is that despite the extraordinary work that has been done through the Recovery Act, millions of Americans are still without jobs. Millions more are struggling to make ends meet. So it doesn’t yet feel like much of a recovery. And I understand that. It’s why we’re going to continue to do everything in our power to turn this economy around.’” (Richard Wolffe, Revival: The Struggle For Survival Inside The Obama White House, 2010, p. 155)
According To Obama’s Former Chief Of Staff Bill Daley, The Obama Administration Gave Up Defending The Stimulus Program Two Years After It Was Passed. ” Then, early in 2011, with unemployment hovering above 9 percent, Obama’s aides made a calculated decision to stop expending the president’s political capital to defend the program, either by its name or the generic term stimulus, said Bill Daley, Obama’s chief of staff at the time.” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)
- Daley: “You Could See The Investments, But You Couldn’t See The Returns On Those Investments.” “‘It was pretty obvious that people didn’t see a difference in the economy yet,’ Daley said. ‘You could see the investments, but you couldn’t see the returns on those investments.’” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)
FactCheck.org: “It’s Accurate To Say The Stimulus Has Failed To Live Up To Initial Expectations.” “CBO’s high estimate is still short of the 3.5 million jobs that Obama had said would be created by the end of 2010, so it’s accurate to say the stimulus has failed to live up to initial expectations.” (Lori Robertson, “Dueling Economic Ads,” Fact Check, 6/30/11)
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