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Bansi Sharma @bansisharma
, 10 tweets, 2 min read Read on Twitter
1. Obama's Economic Con
Allow me to explain how Obama played the con in broad day light. He of course had help from Congress (both GOP and Democrats for crying out loud, but you will never know it from the media), and the media -- both MSM and incompetent conservative media.
2. Welcome To The American Recovery and Reinvestment Act of 2009 (ARRA) aka the Stimulus Bill
The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion.
3. There were fierce debates about 'shovel ready jobs' and such. A lot of hot air was generated trying to justify the need for a stimulus of this magnitude, unprecedented in history. The world will come to an end if the stimulus package was not immediately passed, we were told.
4. Well, fine. We had just experienced a fairly unique financial meltdown, so extraordinary measures were required to deal with this special situation. Stimulus package was approved. By mid-2009, the Great Recession officially ended.
5. Shovel ready jobs never were. Money was spent regardless. On what exactly? Good question. But don't have time to go into that right now. Regardless, water under the bridge. That was 2009. A one-time deal. Let bygones be bygones.
6. But wait!!! How many people think there was just one $831 Billion Stimulus Package that was approved in 2009? Almost everybody, right? Well, if you think that, you don't know Obama, and you don't know our dear Congress (GOP and Dem cretins alike).
7. Come 2010, Obama saw a great opportunity to grow the government like it had never been grown suddenly since its founding. Without any fanfare, discussion, or debate, and with monumental bipartisan collusion, our federal govt made the 2009's supposedly one-time stimulus ...
8. ... part of 'baseline budgeting.' The demon seed of our national debt ballooning forever without any end in sight was planted firmly and surreptitiously in 2010, by essentially adding a trillion dollars to our federal budget for every year till eternity, without debate.
9. No wonder Obama ran, on average, a trillion dollar budget deficit (actually a little more than that) for each and every year of his two-term presidency.
10. The budget deficit for 2009 in the light of the financial crisis was understandable. Deficits in the ensuing years were a heinous abuse of the budgeting process. Everyone responsible for that national heist should live in infamy forever, Obama being first among them.

The End
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