Obama plays an early April Fool's trick by proposing more 'stimulus'
President Obama is calling for another stimulus to build bridges, roads, airports and more buildings:
""There are few more important things we can do to create jobs right now and strengthen our economy over the long haul than rebuilding the infrastructure that powers our businesses and our economy - our roads, our bridges, our schools and our ports like this one," President Obama said.
"There's work to be done," Obama added. "There are workers who are ready to do it. Let's prove to the world there is no better place to do business than right here in the United States of America, and let's get started rebuilding America."" (ABC)
Don't get me wrong. Our infrastructure could use a little upbringing.
My question is this: What happened to the last stimulus?
Well, it did not stimulate. It did not work. In fact, median household income is down since the start of the recession. Jobs are being created but not enough of them!
Of course, the chief problem with the 2009 stimulus is that it was not a stimulus but rather just sending money to cities and states. It did not promote business creation but rather created more debt.
Why should we believe that another stimulus will stimulate the second time around?