Today marks the fifth anniversary of the Santinelli Rant on the floor of the Chicago Mercantile Exchange, which spawned the infamous Tea Party (Taxed Enough Already?). Even if you heard it then, it’s definitely worthwhile listening to once more:
The first Tea Party protests subsequently followed on February 27th to protest the American Recovery and Reinvestment Act (ARRA) stimulus bill signed by President Barack Obama on February 17th, 2009.
There is certainly debate about whether or not the Tea Party still holds the influence it did during the 2010 Congressional elections as well as whether or not ARRA helped our economy recovery.
The White House posted this to mark the 5 year anniversary of ARRA
“Five years later, the U.S. economy is undoubtedly in a stronger position, thanks to the grit and determination of our nation’s workers and businesses. The economy has now grown for 11 straight quarters, and businesses have added 8.5 million jobs since early 2010. While far more work remains to ensure that the economy provides opportunity for every American, there can be no question that President Obama’s actions to date have laid the groundwork for stronger, more sustainable economic growth in the years ahead.”
At the same time, Obama has more than doubled the public debt. CNS News reported that “the marketable debt of the U.S. government has more than doubled–climbing by 106 percent–while President Barack Obama has been in office, increasing from $5,749,916,000,000 at the end of January 2009 to $11,825,322,000,000 at the end of January 2014”
Are we better or worse? Has the Tea Party helped or hurt? Post your thoughts below!
Crossposted at taxpolitix.com