Fun Fact of the Day: Government Stimulus Spending Hits $2.8 Trillion…
With absolutely nothing to show for it except a jaw-dropping deficit…
NEW YORK (CNNMoney.com) — Since the recession began three years ago, Congress has poured a total of $2.8 trillion into the economy in an effort to spur hiring, get people spending again and prop up industries struggling to stay afloat.
While the $858 billion package of tax cuts passed last week was the biggest slice of stimulus yet, it accounts for less than a third of all the money spent since the start of 2008, according to multiple cost estimates prepared by the nonpartisan Congressional Budget Office over the last three years.
The rest came from a combination of the $700 billion Troubled Asset Relief Program, the $787 billion stimulus bill passed in the early days of the Obama administration, and various smaller stimulus programs.
Posted by ZIP on Monday, December 20, 2010, at 4:30 pm | 
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People forget to include the fact that TARP, which was forced on some banks was paid off but money was not used to pay down the deficit.
All according to plan…………..
“The banks didn’t collapse, the auto industry likewise, the economy grew, and more jobs were added in one year than George Bush added in 8 years.”
So bailing out horrible business practices, with funds that only put us trillions of more dollars in debt is a good thing? Letting a bank go under or a business also is actually a healthy thing btw. The “more jobs” figure doesn’t add up no matter how you look at it either. Letting bad business go bankrupt provides the classic bounce…which the flaky practice is weeded out & the rest of the properly functioning businesses pick up the slack. By artificially floating the economy on debt is only going to create a bigger crash in the future knucklehead.
Man you are stupid.
most has flowed into demonicrat cronies pockets.I wonder how much cair and the commies got
jharp-
go smoke another doobie………
mentally-diseased liberal…….
we shoot you first.
@ jharp -The banks didn’t collapse, the auto industry likewise, the economy grew, and more jobs were added in one year than George Bush added in 8 years.
let me see…8 years of Bush, unemployment was around 5%…. we now have 10+% unemployment under Obama and you mean to tell me we have more people working under this idiot?
Wow, where to begin…..
First, I’m NOT politically correct so if anyone is offended by my message then I don’t care one bit. A lot of people just need to grow up and stop whining about their feelings.
Now, to “jharp” — based on the remarks you’ve made it would be very easy to say you’re misinformed, but I think it’s more likely that you’re a bumbling moron who follows Obama like a blind sheep.
To the point…. the only money the government has is money they take from we the people via taxes. In other words, the government doesn’t earn any money. So, of course it’s a terrible thing for the government to throw our money at failing businesses. If you had a drop of common sense you’d understand that, but clearly you’re about as intelligent as a bucket of hammers.
I bet you also think it’s a good idea to give every child playing a competitive sport a trophy, not keep score, and tell them everyone wins huh? Yea… cause that will prepare them for the real world. Hey, were you one of those kids yourself?
Also, I noticed that your very first comment included something about George Bush. Why do people like you almost always defend your point of view by saying something bad about George Bush? I don’t get it. I mean, the article didn’t say Bush rules and Obama sucks so why did you even mention Bush?
“jharp”, you are entitled to your opinion. Your opinion is 100% wrong, but you can still have it. However, before you go out into public and open that mouth of yours, maybe you should consider the fact that you are in the minority now. A lot of people who supported Obama 2 years ago are extremely embarassed now and have seen the awful mistake they made.
Furthermore, you would be better off if you realized that we the majority are far, far, far more informed than you about everything going on with our government. If you don’t believe that then take a look at commieblaster.com for a taste of the knowledge that we hold. We know what’s going on and that’s why the democrats lost 63 seats in the House last month. By the way, that’s just the beginning. In 2012 you’ll see round 2…. of a very long fight…. that your side will lose.
If you and your democrat/liberal/progressive/socialist/communist friends want a fight then I say BRING IT!!!!!
Where to begin….. First, I’m not politically correct so if anyone is offended by my message then I don’t care one bit. A lot of people just need to grow up and stop whining about their feelings.
Now, to “jharp” — based on the remarks you’ve made it would be very easy to say you’re misinformed, but I think it’s more likely that you’re a bumbling moron who follows Obama like a blind sheep.
To the point…. the only money the government has is money they take from we the people via taxes. In other words, the government doesn’t earn any money. So, of course it’s a terrible thing for the government to throw our money at failing businesses. If you had a drop of common sense you’d understand that, but clearly you’re about as intelligent as a bucket of hammers.
Also, I noticed that your very first comment included something about George Bush. Why do people like you almost always defend your point of view by saying something bad about George Bush? Weird.
Before you go out into public and open that mouth of yours, maybe you should consider the fact that you are in the minority now. A lot of people who supported Obama 2 years ago are extremely embarassed now and have seen the awful mistake they made. You’d be better off if you realized that we the majority are far, far, far more informed than you about everything going on with our government. If you don’t believe that then take a look at commieblaster.com for a taste of the knowledge that we hold.
There’s a reason why the democrats lost 63 seats in the House last month. By the way, that’s just the beginning. In 2012 you’ll see round 2…. of a very long fight…. that your side will lose. If you and your democrat/liberal/progressive/socialist/communist friends want a fight then I say bring it!!!!!
It is currently imposible to find out what the true payback number is!
Some of the institutions that claim they have paid back TARP actually may have Trillons in “Toxic Assets” in the form of morgage backed securities and derivatives that are “off the books” or have been”transfered” to the fed, but are considered liabilities for the USA taxpayer. Ron Paul and others have tried to get this info and so far have been stonewalled by barry and his merry band of traitors!
A quick reminder; GM not that long ago, put out a commercial stating they had paid back TARP! It was pulled a short time later after FACTS were revealed that the money came from a different TARP account. I believe GM currently owes the US taxpayer approx 38 billion! This does NOT included the above mentioned “Toxic Assets” from “OLD GM”!!! These toxic assets aren’t all just written off and a clean slate is held out to US taxpayers! US taxpayers are on the hook for most of this money!!!! Amount unknown! These toxic assets are Global! We won’t even go into how normal americans were fucked as bondholders and stock holders, with barry’s thugs giving them nata,zip,ZERO!
The unions and current GM management “got over big time” with the ipo release. I suspect that the reason we have given billions/trillions to bail out foreingn banks is to keep the lawsuits at bay while the won is in power!
Bottom line, we taxpayers got fucked and what I have stated about GM applies to MANY of the financial institutions. So when these elites (with zero business experience) claim they saved all us dumb shits, I beg to differ. If your plan does not work in the FREE market, its a bad plan and YOUR loss,not OUR loss!
Comon Man! 8 million jobs created and more than GB created!!! Some very wicked phycidillics, or direct from Media Matters talking points! As a business person fighting every day for survival under the worst president ever, (yes that includes Jimmha) it is my experience that we have a large group in government control that are trying to destroy America!!!
Wise UP!!!!!!
Oh! On my knees in front of barry? I’ll take a bullet in the head before that happens, boy!
Fuck you jharp.
Thats from my black half.
At exactly what point will the lumpenproletariat come out with their many torches and pitchforks?
Payroll is nearly identical to 1999 levels and the US now has 30 million more people. To catch up to the aggregate of the first Bush term we need 627,000 per month for 62 months.
Be mindful that nafta is partly to blame as is the insatiable appetite America has for cheap crap from Chinamart, I mean Walmart.
Things are going to be tough for a very long time folks regardless of which management company runs the chattle ranch. Now, get back to your shopping!
Regardless of what you think, good resources were provided by most everyone who commented. Thank you for that. Even though there were a couple curse words thrown around we need to start talking more about issues that are big like this and provide as many resource to back up our claim as possible. I will continue to enjoy reading more posts that come from this article!
Notice how jharp and his libtard friends have no problems threatening to shoot those who oppose obama but yet when it is done to him the obot pussy pees his pants and threatens to report everyone on this site to the police for offending his fragile male ego
God jharp is an stupid POS