1: Promise: If we pass a stimulus package, unemployment won’t go above 8%.
Result: What did we get for our nearly $800,000,000,000 dollars? Unemployment remains above 9% and more than 14 million people remain out of work with another 30 million people who are still underemployed. The latest job report shows that the economy has gained exactly 0 jobs in the last month.
2: Promise: The only way that we could open up the credit markets for regular Americans was to pump trillions of dollars into the banks.
Result: The banks pocket trillions of dollars both directly and indirectly (through 0% interest loans from the FED), but credit remains nearly impossible to attain for most Americans. Housing market remains deflated because Americans are unable to qualify for home loans.
3: Promise: ObamaCare will reduce insurance premiums for all Americans and if you like your insurance you will be able to keep it.
Result: After passage, premiums skyrocket and this increase forces many businesses to stop offering insurance at all.