Claude Cartaginese

Chris Matthews Doesn't Care if the Stimulus Package Was a Complete Failure

Posted on July 3 2009 9:09 am
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Back in February, before the passage of the largest tax hike in history (known by its supporters as the “stimulus plan”), Chris Matthews, the Obama lapdog who hosts Hardball on MSNBC , wondered:

To be or not to be, that‘s the question.  Will there be a big-budget, almost trillion-dollar economic recovery bill?  Will [members of] Congress agree to President Obama‘s job number one, this giant measure to spend federal dollars and cut taxes to put some forward motion into the American economy, or won’t they?

They did. And as the latest unemployment figures indicate, it didn’t work.

The Obama administration, intent stimulating the economy by means of a plan of unprecedented spending, wanted badly for this bill to pass. With the unwavering support of his tax-and-spend Democratic allies in the Congress — led by Nancy Pelosi, who, after the bill’s passage, rewarded herself with a congratulatory trip to Italy that cost taxpayers $1 million – Obama pushed this tax hike as the only answer to the country’s economic woes. He warned us that if Congress failed to pass the bill, unemployment, which stood at 7.4% in February, would rise to 9 percent by 2010. Republicans balked at this, but the Democrats had the votes, and the bill was run through at the eleventh hour.

Well, after four months, how’s the unemployment rate?

The jobless rate hit a staggering 9.5% in June, with employers cutting 467,000 jobs that month, many more than was expected. Just as worrisome, wages shrank to their lowest levels in nearly a year. If you include laid-off workers who have given up looking for jobs or have settled for part-time work, the so-called underemployment rate was 16.5 percent in June — the highest on record dating back to 1994.

The plan has failed in a big way, and it’s doubtful that Matthews will ever do a follow-up show on the stimulus plan. Come to think of it, neither will any of the other talking heads at MSNBC. Why would they? It would only take precious time away from their never-ending obsession with Dick Cheney and waterboarding.

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