Friday, 12 October 2012

How Did that Stimulus Work Out?

False Messiahs Struck Down Yet Again

Unbelievers are always looking for messianic saviours.  Rejecting the Messiah of God, the Lord Jesus Christ they frantically cast around for a substitute.  Then when times get tough, the demand can rise to the level of panic.  Almost inevitably--virtually without exception--the saviour is some organ or act of government.  Funny that.   "In government we trust" is the religious mania of the day. 

When the United States led us into the global financial crisis the people bowed and prayed for a saviour they had made.  Enter the Federal Government.  It would expropriate an extra one trillion dollars of its citizen's money which it did not have ("no worries, mate--we will borrow it so your children and grandchildren can pay it off").  It would then spend this borrowed money on grand schemes to create lots and lots of  jobs. 

The problem is that in God's world, that is, the real world, false saviours get exploded and struck down.
The Living God is a jealous God and will not tolerate idols and pretenders in His presence and in His world.  Not only has the Big Spend Up failed, it has left the US worse off than before.  This from Michelle Malkin who reports on an ex-post analysis by an economist at the Ohio State University:

The Democrats’ trillion-dollar “American Recovery and Reinvestment Act,” however, keeps piling up waste, failure, fraud and debt. Who benefited most? Big government cronies. 

According to Investor’s Business Daily this week, a new analysis by Ohio State University economics professor Bill Dupor reported that “(m)ore than three-quarters of the jobs created or saved by President Obama’s economic stimulus in the first year were in government.”

Dupor and another colleague had earlier concluded that the porkulus was a predictable jobs-killer that crowded out non-government jobs with make-work public jobs and programs. Indeed, the massive wealth redistribution scheme “destroyed/forestalled roughly one million private sector jobs” by siphoning tax dollars “to offset state revenue shortfalls and Medicaid increases rather than boost private sector employment.” . . . 

Nowhere is the gulf between Obama/Biden rhetoric and reality on jobs wider.  Remember: Obama’s Ivy League eggheads behind the stimulus promised that “(m)ore than 90 percent of the jobs created are likely to be in the private sector.” These are the same feckless economic advisers who infamously vowed that the stimulus would keep unemployment below 8 percent — and that unemployment would drop below 6 percent sometime this year.

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