“Now, without relitigating the past, I’m absolutely convinced, and the vast majority of economists are convinced, that the steps we took in the Recovery Act saved millions of people their jobs or created a whole bunch of jobs,” Obama said at his Monday press conference.And that's not including the incurred interest over 10 years that will push the total to around $1.2 trillion. And we have what to show for it? There are 3 million fewer jobs today than there were when Obama came into office. But look at how Obama is blaming the expiring stimulus dollars as responsible for the horrible jobs numbers recently. That's not what his regime has been claiming.
“And part of the evidence of that is as you see what happens with the Recovery Act phasing out,” he said. “When I came into office and budgets were hemorrhaging at the state level, part of the Recovery Act was giving states help so they wouldn’t have to lay off teachers, police officers, firefighters. As we’ve seen that federal support for states diminish, you’ve seen the biggest job losses in the public sector--teachers, police officers, firefighters losing their jobs.”
President Obama signed the American Recovery and Reinvestment Act on Feb. 17 2009. His top economic adviser, Christina Romer, had reported that the act would prevent the national unemployment rate from reaching 8 percent. Initially, the Congressional Budget Office estimated the act would cost $787 billion. CBO now estimates it cost $830 billion.
UPDATE: Rush Limbaugh - Thee Obama Effect Man Made Economic Destruction