President Obama says stimulus helped states manage their budgets. Is that what it was supposed to do?

by editor on March 3, 2011

We’re morons, which, of course, comes as no surprise to anyone who reads IHTM on a regular basis.

But in this particular case, we’re morons because we thought the purpose of the American Recovery & Reinvestment Act was to stimulate the economy, to finance all those shovel ready projects and to keep unemployment from going over 8%.

Looks like we were, oh, so wrong. Here’s what President Obama told the nation’s governors on Monday:

“As the Recovery Act funds that saw through many states over the last two years are phasing out and it is undeniable that the Recovery Act helped every single state represented in this room manage your budgets, whether you admit it or not. You face some very tough choices at this point on everything from schools to prisons to pensions.”

In other words, the Recovery Act supplied crack to the addicts, but now the pusher man has run out of crack.

At least that’s the way we interpret what he said.

http://www.youtube.com/watch?v=h-UeCkwZ8BU

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Jim Stewart
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Jim Stewart

I thought the purpose of the Porkulus Bill was to lower the level of the oceans, cleanse the air, feed the hungry, save union jobs and just about any other damn thing Obama says it will do.

KimmyQueen
Guest

Obama: “What y’all need to understand is… I y’alls Daddy. What I say goes. I had to teach you people how to balance your checkbook, just like a good Daddy does, but I also had to teach you a lesson, because I loves you… I am y’alls Daddy.”

hisham
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hisham

GRRRRRRRRR! If I were a Mastiff I’d piss on BO’s leg then bite him where the sun don’t shine…if I were a Mastiff.

Noelegy
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Noelegy

In other words: “The federal government fixed it, so you silly states stop messing around with it.”

Philanthropist
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Philanthropist

More precisely it was designed to pay-off the state government unions.

danybhoy
Member
danybhoy

It was a slush fund, pure & simple.

Bruce
Guest
Bruce

This reminds me of the “BIG ENERGY PROBLEM” in the 70’s, so maybe it’s time to readjust daylight savings to balance the budget. Always one of my favorite solutions.

nuke
Member
nuke

Obummer makes Carter look like a certified genius. Yep, ol’ Jimmy was a wizard, a virtual Harry Potter, of foreign policy and domestic affairs compared to the smartest man in the history of the world.