Jeffrey Anderson at the Weekly Standard reports on another adventure in lawlessness from the Most Transparent Administration in History: the President is legally obligated to issue quarterly reports on the “success” of his “stimulus” program through September 2013… but since both success and stimulus belong in ironic quotes when describing this trillion-dollar boondoggle, Obama quietly stopped issuing the required reports after the second quarter of 2011.
Back when the reports were coming out, they began with boilerplate text boasting of the “stimulus” bill’s beautiful transparency: “As part of the unprecedented accountability and transparency provisions included in the American Recovery and Reinvestment Act of 2009 (ARRA), the Council of Economic Advisers (CEA) was charged with providing to Congress quarterly reports on the effects of the Recovery Act on overall economic activity, and on employment in particular.” But evidently that “unprecedented accountability and transparency” went out of fashion two years ahead of schedule, in defiance of clear legal requirements.
“Why would the administration not want to release these reports?” asks Anderson. “Presumably because they have shown what a colossal waste of taxpayer money Obama???s ‘stimulus’ has been.” Even using Obama’s ludicrous “jobs created or saved” parameters, his own economists figured the stimulus blew $317,000 per job – and that’s borrowed money we’re still paying interest on. (If Obama gets a second term, we might be paying interest on it for eternity, because he has no intention of actually reducing the national debt, ever. Instead, he’ll take it up to $20 trillion at least.)
And here’s what the money Obama took from our children is paying for, as a breaking-news expose in Holland, Michigan catches workers at the stimulus-funded LG Chem factory – built with $151 million from the Recovery Act – sitting around and playing cards, because there’s no demand for the Chevy Volt batteries they’re supposed to be producing.