More Proof That The Stimulus Isn't Working

Obama is now on a daily speech-making campaign of "trying" to convince us all that his stimulus package is working. But, that gets hard and harder to believe with the increasing amount of bad data that keeps coming out about our economy.

Back in February, Obama announced a plan that was intended to abate the high foreclosure rate by "helping" 9 million homeowners who were in jeopardy of falling behind on their mortgages. At the time it was announced, I was very skeptical about the projected results and wrote this critical blog entry: "The 31 Percent Solution?".

This morning, the first-half of 2009 foreclosure data was published by RealtyTrac, Inc. (See Detailed Story). As predicted, Obama's plan hasn't worked because the foreclosure rate is accelerating and not hardly abating. Foreclosures were up an unexpected 15% in the first half of this year; and, even more disconcerting, the foreclosure rate was up 33%, year-over-year, in June, alone. Further, June rocketed another 5% over May's record rate. This hardly reflects a slowing of the foreclosures in America. Again, this is another Obama plan that is falling well short of all his rosy predictions.

This is just more proof that the Obama economics team doesn't know what they're doing. I'm just a blogger with a little more than some practical business experience and I knew that Obama's "foreclosure" plan wasn't going to work. People should wake up to the fact that none of the recovery plans that this President and his National Economic Council and the Treasury Department have cooked up have actually done anything. All we are getting from this guy is a bunch of well-delivered speeches and no results.

All of this comes at a time when this President and his people are now telling us that their health care reform will lower costs, cover all of our uninsured, and "not ration" our medical care in the future. Given Obama's performance to-date, how in the hell can anyone believe that this President is capable of predicting what he says will happen!

Simply speaking, Obama and the Democrat's push for all these new programs like "Cap And Trade" and "Health Care Reform" just shows how grossly irresponsible these people are by implementing expensive, job-killing programs at a time when this country is in the midst of an ever-increasing recession.

Based on decades of past experience, people are always asking for trouble when some charlatan says that they need to "act immediately" and, then, slips a contract under their nose and says: "You don't have to read it...just sign it!" This is right out of every scam artists playbook and Obama and the Democrats seem to be practicing it big time.

From day one, this President and this Congress keep saying that we must act immediately. And, there's no time to read anything.

All of these massive Congressional spending and programs bills have been intentionally written in excess of 1,000 pages each so the true details of what they are doing are completely buried in the sheer size of these documents. Then, the voting process is rushed so that no one can read all those pages; even if they wanted to. This has been the pattern of deception for the Stimulus Package, "Cap and Trade" and Health Care Reform. We are truly being set up by Obama.

I would hope that the people of this country -- Independents, Democrats and Republicans -- would wise up and put a stop to all this by lodging their complaints to their respective Congressional Representatives. Remember that old saying: "Cheat me once, shame on you. Cheat me twice, shame on me!" If we don't stop "Cap and Trade" and "Health Care Reform", right now, it will only be shame on us!