Obama: I should have said that the recovery would take a really long time in 2008

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[LibCampFireClub 635]

Obama: I should have said that the recovery would take a really long time in 2008

Regrets, he’s had a few. But most of them have had to do with the rosy picture he painted of what the economy would look like following a swift infusion of “Obamanomics.”

The president spent much of his time on the post-campaign campaign trail in 2009 promising that the unprecedented sum of money passed by Congress as part of the American Recovery and Reinvestment Act (the stimulus) would have a speedy and positive effect on the economy. Roads, bridges, and “shovel-ready” jobs would quickly put Americans back to work. When that massive sum of borrowed money failed to have its intended effect on the unemployment rate, Obama realized and confessed too late that “there’s no such thing as shovel-ready projects.”

Oops.

http://hotair.com/archives/2015/04/10/obama-i-should-have-said-that-the-recovery-would-take-a-really-long-time-in-2008/

[Ban Hammer 13,333]

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