Obama promised the sun and the moon and the stars.
That was the day, five years ago, when he signed the $800 billion “American Recovery and Reinvestment Act.”
President Modesty called it “the most sweeping economic recovery package in our history.”
He promised “unprecedented transparency and accountability.”
He claimed the spending would lift “two million Americans from poverty.”
The actual cost of the $800 billion pork-laden stimulus has ballooned to nearly $2 trillion.
At the time of the law’s signing, the unemployment rate hovered near 8 percent.
Obama’s egghead economists projected that the jobless rate would never rise above 8 percent and would plunge to 5 percent by December 2013.
The unemployment rate for black Americans is 12.1 percent: nearly double the national rate. The Obama campaign excoriated President George W. Bush when it exceeded 10 percent under his watch. The black teen jobless rate is now a whopping record 38 percent.
50 million Americans remain below the poverty level.
47 million are now on food stamps, a third more than when Obama first took office in the halcyon days of Hope and Change.
After $150 billion in spending on green energy boondoggles, what does the White House have to show for it?
32 Obama-backed environmental firms have gone bankrupt as of February 2014.
These include crony-clogged Solyndra at a cost to taxpayers of $535 million; Beacon Power, $240 million; Abound Solar, $400 million-plus; Fisker Auto, $529 million; A123, $250 million; ECOtality, $100 million; and Ener1, $118.5 million.
In addition, 22 other Obama green energy projects are now in dire financial trouble.
http://www.yourhoustonnews.com/courier/opinion/five-years-later-how-s-that-wreckovery-working-out/article_7c9afd3d-af0d-5f8a-b8b3-255a03309d46.html