Biden: The Stimulus Package? Totally Worth It

by Stephan Tawney on February 17, 2010

It’s the anniversary of the $800 billion+ stimulus legislation fuck up, so this is the line the administration has been repeating all day. The legislation was supposed to restart the American economy, create millions of jobs, and keep unemployment below 8%. So clearly 9.7% unemployment, continued economic failing, and millions of lost jobs are indicative of success.

Let’s be honest. We could have 25% unemployment, no financial institutions left, and everyone could be living in a cardboard box. And Sheriff Joe would still be proclaiming success. It’s what he does.

(AP) – Vice President Joe Biden asserted in an interview Wednesday that taxpayers have “gotten their money’s worth” out of the $787 billion stimulus program that Congress passed during the depths of the recession.

In an interview broadcast on CBS’s “The Early Show,” Biden defended the program against accusations by Republicans critics that it hasn’t been the job-manufacturing machine the administration promised to the American people.

The administration promised unemployment no higher than 8%. Current unemployment is 9.7%, after falling from over 10%. And to think Republicans are critical of the legislation’s success.

He argued that money invested in both private and public-sector initiatives has saved as many as 2 million jobs, and said, “I don’t think they realize it.” Biden said the program, now a year old, was designed to be implemented in two stages, saying “we’ve only been halfway through the act.”

First of all, the administration needs to settle on a made-up number. Biden’s claiming 2 million, Obama adviser Valerie Jarret claimed thousands, Press Secretary Robert Gibbs said 1.5 million, and David Axelrod claimed over 2 million. That’s a range of thousands to millions. If you’re going to make up a total, at least be consistent.

Second, Biden isn’t really claiming that we just haven’t waited long enough, right? He can’t possibly be claiming the purpose was to start creating jobs more than a year after passage, what with the administration on record promising targeted and timely creation?

Ah well. Democrats are already fleeing from the White House on this issue. Just yesterday Senator Evan Bayh (D-IN) admitted that the legislation has yet to create a single private-sector job. By November the job creation claims will be a laughing stock even in liberal circles.



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