The fact that President Obama and the Democratic Congress saved the country from the Bush Recession – the longest and deepest since the Great Depression –becoming a depression should be more than enough for people to vote for Democrats next month, but sadly so many people have bought into Republican lies the election will be close. It’s time to debunk one of the biggest Republican lies.
That lie is that President Obama’s economic stimulus package did not create or save a single job. That is a complete lie, and many economists say the stimulus should have been larger. Republicans and the many conservative think tanks have falsely made that claim, and in fact The American Recovery and Reinvestment Act has been featured in more than 130 TV ads so far pushing that lie, According to the nonpartisan site Fact Check.
According to Fact Check, “the nonpartisan Congressional Budget Office (CBO) released a report in August that said the stimulus bill has "[l]owered the unemployment rate by between 0.7 percentage points and 1.8 percentage points" and "[i]ncreased the number of people employed by between 1.4 million and 3.3 million."
“Simply put, more people would be unemployed if not for the stimulus bill. The exact number of jobs created and saved is difficult to estimate, but nonpartisan economists say there’s no doubt that the number is positive.”
The same CBO report in August estimates that the policies of the stimulus package had the following effects in the second quarter of calendar year 2010: They raised real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.5 percent.
The success of the Democratic Congress should be enough, but when you combine that with the fact the Republicans have no plan to fix the mess they created. The truth is they blocked every single bill, and they offered no solutions. In fact, the alleged pledge they rolled out last month is just the same old, failed policies that created the Bush recession.
Vote Democratic on November 2.