Obama and Summers Blow Lies About the Recovery

What Obama did not tell the hand-picked audience is that many leading economists assert that the impact of Obama’s Stimulus Bill has been insignificant at best.

Michael Boskin, for instance, a senior fellow at the Hoover Institution, says that Obama’s vast enlargement of the Federal government and anticipated tax hikes to pay for ObamaCare and his recently passed Financial Reform Bill are offsetting any short-run expansionary effect of his $787 billion Recovery Act.

And in a recent survey by the National Association for Business Economics, 68 of its members who work in economic roles at private-sector firms, said employment at their companies was no higher a result of Obama’s Stimulus Bill.

What else did Obama blow lies about? He failed to mention at the Town Hall Meeting that most economists agree that the high future taxes to finance his programs will result in $3.40 of lost output for every dollar of government spending.'

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