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Nearly 100 Economists Say Stimulus Has Failed

Nearly 100 Economists Say Stimulus Has Failed

Incumbent Congressman Brad Ellsworth and President Obama continue to sing off the same rhetorical song sheet.

  • Back in February 2009, Congressman Ellsworth said , “I think any economist will tell you, if you spend money, it will create jobs.”

On Congressman Ellsworth’s comment, we’ve spent an awful lot of money courtesy of Obama-Ellsworth’s stimulus bill but where are the jobs?

As to the President’s statement that “every economist” has said the Obama-Ellsworth stimulus did its job – we’re not exactly sure what economists the President has been listening to, but as Peter Roff reports at U.S. News & World Report today, “nearly 100 prominent U.S. economists…are telling President Barack Obama that his economic stimulus has failed and that ‘immediate action is needed to rein in federal spending.’

Roff also writes:

In a letter to the president in which they refer to the latest jobs

figures as “a source of disappointment and alarm,” the distinguished

economists who signed it echo the concerns of others that the

predominant share of the jobs created in May 2010 were temporary

government jobs while the civilian labor force shrank by 322,000.

“In addition,” they write, “46 percent of those out of work have

been jobless for six months or longer–the first time in history that

such a dire statistic has been recorded for the American economy.”

All this begs another question:

  • Does Congressman Ellsworth still believe his vote for the stimulus was successful when the numbers prove it has been a failure in spurring much needed job growth?

Lack of Jobs Based on Uncertainty

Policies such as the stimulus have led to economic uncertainty, meaning less job creation at a time when our nation needs it the most.  Jon Ward writes in the Daily Caller this morning:

There is one word being mentioned by business leaders and economists

more frequently when the conversation turns to why jobs are not returning

more quickly to the U.S. economy: uncertainty.

Independents Moving Away from Obama

It’s this uncertainty that has resulted in a shift as “Independents move towards Republicans, away from Obama,” as reported by the Washington Post ‘s Chris Cillizza Thursday .  He added that data released by Gallup shows “a trend that appears to be tied to their feelings about President Obama.”  In addition, “The Gallup numbers suggest that Obama himself is the prime motivator for independent movement towards Republicans on the generic ballot.  More than half (51 percent) of independent registered voters…disapprove of the job the president is doing.”

This begs a few questions:

  • Will Congressman Ellsworth campaign with President Obama in Indiana?  Why didn’t Vice President Biden campaign for Congressman Ellsworth during his recent visit to Indiana?  Does Congressman Ellsworth want what happens in Washington to stay in Washington or has the White House already written off the Ellsworth campaign?

In Case You Missed It

Once again refusing to discuss his votes for the bailout, stimulus and health care spending bill directly to Hoosiers, Congressman Brad Ellsworth preached to the liberal chorus via the Huffington Post Thursday.

In what was certainly one of the most disturbing developments of the campaign thus far, Congressman Ellsworth admitted – not to Hoosiers, but to his liberal base – that he wasn’t even certain of the contents of the health spending bill when he voted on it.

You can read the entire piece here and see our initial reaction here .

[Full disclosure: Pete Seat is the press secretary for the Coats for Senate campaign.]

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