As a reminder, the first “economic stimulus” package cost the American taxpayers a whopping $789.5 billion. And since that money needed to be borrowed, the interest drove the total cost to around one trillion dollars. One trillion dollars. I’m not quite sure when that dramatic dollar amount became so common place, but it is still troubling for me to hear. President Obama and Speaker Pelosi promised the American people this legislation would create between three and four million jobs and pull this country out of economic recession.
Yet, here we are, four months later and the unemployment rate has increased, not decreased. In the month of June alone, a staggering 467,000 Americans lost their job, raising this country’s unemployment rate to 9.5 percent.