Research Briefing

The 300 Day Hangover

13

December 2009

Posted by: Research

On 300th Day Of Stimulus, A Look At Failures Of Obama’s 2009 Binge Spending As He Prepares More Binge Spending In 2010

AS OBAMA PREPARES TO DOUBLE DOWN ON HIS SPENDING BINGE NEXT YEAR …

Obama’s Stimulus II Could Cost Almost $300 Billion. “The cost of a new jobs bill Democrats hope to move early next year runs to nearly $300 billion when major proposals under serious consideration are added up.” (Walter Alarkon, “Job Proposals From Democrats Could Add $300 Billion In New Federal Spending,” The Hill, 12/3/09)

House Dems Rush Through Passage Of $450 Billion Omnibus Spending Bill. (H.R. 3288, Roll Call Vote #949; Approved 221-202; D 221-28; R 0-174, 12/10/09)

  • That Increases Non-Defense Discretionary Spending By 12 Percent From Last Year. “The sweeping omnibus package … reflects a 12 percent increase in discretionary spending over last year …” (Jennifer Bendery, “Both Parties Pile Earmarks Onto Spending Bill,” Roll Call, 12/10/09)

House Dems Pushed Through $1.2 Trillion Government-Run Health Care Experiment. “The health care bill … costs $1.2 trillion or more over a decade ...” (David Espo, “AP Sources: House Health Bill Totals $1.2 Trillion,” The Associated Press, 11/2/09)

  • Senate Dems’ Version Of Obama’s Health Care Experiment Costs $940 Billion. “To get a fair read on the total cost of the health bills, we should therefore add together the gross cost of coverage expansions and the cost of the other provisions that increase spending (or decrease revenues) ... the real gross cost of the Senate health bill is $940 billion over ten years...” (Donald Marron, “How Much Does The Senate Health Bill Cost?” Donald Marron’s Blog, 11/19/09)

All Paid For By Raising American Taxpayers’ Credit Card By $1.8 Trillion, Largest One Time Increase In History. “Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s ...” (David Rogers, “Dems To Lift Debt Ceiling By $1.8 Trillion, Fear 2010 Backlash,” Politico, 12/9/09)

A LOOK BACK AT 300 DAYS OF RHETORIC VS. REALITY ON HIS BINGE SPENDING THIS YEAR

FEBRUARY

Obama’s Rhetoric: “The Recovery Act … Includes Help For Those Hardest Hit By Our Economic Crisis …” (President Barack Obama, Remarks At The Signing Of The American Recovery And Reinvestment Act, Denver, CO, 2/17/09)

America’s Reality:

 

 

 

MARCH

Obama’s Rhetoric: “Decisions About How Recovery Money Will Be Spent Will Be Based On The Merits …” (Jeff Zeleny, “Obama Outlines Plan To Help Prevent Waste In Economic Stimulus Package,” The New York Times, 3/20/09)

America’s Reality:

 

 

 

APRIL

Obama’s Rhetoric: “The Recovery Act … Will Create Good Jobs That Pay Well.” (The White House, “Remarks By The President And The Vice President On The American Recovery And Reinvestment Act,” 4/13/09)

America’s Reality:

 

 

 

MAY

Obama’s Rhetoric: “The Recovery Act Has … Saved Or Created Nearly 150,000 Jobs” (Sam Youngman, “Obama: First 100 Days Of Stimulus Show Success,” The Hill, 5/27/09)

America’s Reality:

 

 

 

JUNE

Obama’s Rhetoric: “We’ve Done More Than Ever, Faster Than Ever, More Responsibly Than Ever, To Get The Gears Of The Economy Moving Again.”  (Peter Nicholas, “Obama Confronts Doubts On Stimulus, Vows Faster Spending,” Los Angeles Times, 6/2/09)

America’s Reality:

 

 

 

JULY

Obama’s Rhetoric: “Important Steps We Have Taken Over Last Six Months Have Helped Us Put The Brakes On The Recession.” (Jake Tapper, “President Obama: GDP Shows Economy Headed in Right Direction,” ABC News’ “Political Punch” Blog, 7/31/09)

America’s Reality:

 

 

 

AUGUST

Obama’s Rhetoric: “We’ve Rescued Our Economy From Catastrophe, We’ve Also Begun To Build A New Foundation For Growth.”  (“Obama Cautious Despite Unemployment Cheer,” Reuters, 8/7/09)

America’s Reality:

 

 

 

SEPTEMBER

Obama’s Rhetoric: “We’ve Stopped Our Economic Freefall. That’s Something Everybody Can Agree On.” (President Barack Obama, Remarks By The President At The AFL-CIO Convention, Pittsburgh PA, 9/15/09)

America’s Reality:

 

 

 

OCTOBER

Obama’s Rhetoric: “[The] Recovery Act [Has] Made A Difference In The Lives Of Families Across America.” America.” (President Barack Obama, “Remarks By The President At DNC Fundraiser,” New York, NY, 10/21/09)

America’s Reality:

 

 

 

NOVEMBER

Obama’s Rhetoric: “When We First Came Into Office Our Immediate Goal Was To Stop The Freefall That Caused Our Economy To Shrink At An Alarming Rate. We Have Succeeded In Achieving That Goal ...” (President Barack Obama, Remarks By The President In The Rose Garden, Washington, DC, 11/6/09)

America’s Reality:

 

 

 

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