“We Took Money out of the Economy to put into the Economy”

Said White House Press Secretary Robert Gibbs on Fox News Sunday. Asked by host Chris Wallace if, based on the disastrous experience with the trillion dollar stimulus, does the Administration really think that borrowing billions more for a proposed $175 billion jobs program is actually going to cut unemployment and put people back to work?

GIBBS: Well, Chris, let’s take, for instance, the example you just used of the stimulus package…Just last quarter, we finally saw the first positive economic job growth in more than a year, largely as a result of the recovery plan that’s put money back into our economy, that saved or created 1.5 million jobs.

Since the only money Congress and the Administration have is that which is collected through confiscatory taxation of individuals and businesses, what Gibbs is saying is that the Administration took money out of the economy to put back into the economy.

This makes about as much sense as in trying to raise the water level in the shallow end of a swimming pool by taking a bucket of water from the deep end and dumping it in the shallow end.

In actuality, what the Administration and Congress did was filch money from certain vibrant sections of the economy they deemed undeserving and redistributed it to special interest groups they deemed deserving.

Senior White House Advisor Valerie Jarrett explained it to David Gregory on Meet The Press,

“The Recovery Act saved thousands and thousands of jobs. There are schoolteachers and firemen and– and– teachers all across our country, policemen, who have jobs today because of that recovery act.”

Correct me if I’m wrong, but aren’t all those union jobs?

 

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