4 1 min 10 yrs

The Presidents job Bill was Defeated in the Senate, AP Headline in 4000 Newspapers “Senate Republicans Kill Obamas Job Bill”.

There are 52 Democrats in the Senate, 48 Republicans. The Republicans can not stop or pass a single Bill in the Senate only the Democrats can. This third stimulas bill that the President put forward as a job Bill did not create a single job, it spent another 700 Billion, and raised taxes. The whole purpose of this Job Killing Bill was to give the Obama Campaign a headline to run with, so of course the AP Obliged.

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4 thoughts on “The Lie of the Day

  1. No – this is the lie of the day:


    – Insecurity and rising opium prices drove Afghan farmers to increase cultivation of the illicit opium poppy by 7% in 2011 despite a major push by the Afghan government and international allies to wean the country off the lucrative crop, according to a new UN report. –

    …..despite a major push by the Afghan government and international allies to wean the country off the lucrative crop….

    That was the lie of the year.

  2. Well said Troll. Exactly right.

    Interesting contrast here between the US and Chinese stimulus responses in 2008:

    “In response to the 2008 worldwide financial collapse, Chinese authorities unleashed $2.1 trillion of stimulus, or almost 33% of GDP. This compares to the US stimulus of $800 billion, or 5.5% of GDP, spent on worthless Keynesian pork. Unlike the US, where no jobs were created, China’s command-and-control structure funneled the stimulus into building cities, malls, roads, office buildings, and residential units. Millions of Chinese were employed in creating properties for which there was no demand. Moody’s approximates that China’s banks have funded at least RMB 8.5 trillion (US$1.3 trillion) of the RMB 10.7 trillion of outstanding local government debt, which was a significant portion of the 2008 national stimulus package. When the central authorities tell the banks to lend, the banks ask, “How much?” The result has been soaring real estate inflation and malinvestment.”

    But guess what? It looks like the Chinese economy is headed for a fall. It turns out that the laws of economic gravity apply there as well as in the west. Who knew?

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