Biden Cheers Economic Stimulus, But Ignores Facts in the Process

Joe Biden is cheering the Recovery Act and the Obama administration for helping the economy – problem is, the money from the Act is being woefully mismanaged, isn’t creating jobs and, in the long run, will probably just lead to higher long-term interest rates due to massive debt incursion.
To call Joe Biden a "cheerleader" for President Obama and his economic stimulus plan is apt. But when it comes time for the vice president to honestly assess the success of the Recovery Act, a few of the more pertinent details have seemingly gone missing. In a recent speech, Biden targeted Republicans and other naysayers when he said that the past 3 months have provided proof of the success of the administration and the stimulus. Noted Biden, "The Recovery Act is doing more, faster and more efficiently and more effectively than most people expected."

Apparently, Biden either thought that most people have very low expectations, or he is simply ignoring the fact that nothing about the Recovery Act has been fast, efficient or effective. Never mind that there is absolutely no proof that the economy is recovering as a result of the Act – recessions typically end on their own without the government lifting a finger – but there are actually instances of great government inefficiency (go figure) that Biden is clearly choosing not to see. Contractors who are performing work under the Recovery Act are growing increasingly frustrated, noting that money for projects is coming at a snail’s pace. Jobs are in short supply and there is no evidence that the Act has created any significant number of jobs as the national unemployment rate hovers around 10%.

Stephen E. Sandherr, head of the Associate General Contractors of America perhaps summed it up best when he said, "It is difficult to understand why more communities aren’t moving to put their stimulus funds to work while they are experiencing these kinds of job losses. Coping with the red tape required by the stimulus ought to be worth it to help put neighbors and friends back to work." What’s worse, there are clear indications that things have gone even more awry than mere tight-fisted municipalities holding onto their funds. The Transportation Department recently discovered that the Obama administration used stimulus money to fund 50 airport projects. The problem is that none of them met the grant criteria. What’s more, projects were approved at four airports that have a clear history of federal grant mismanagement. So, it would appear, when Joe Biden speaks, his words must always be taken with a grain of salt. Or, simply assume the opposite of whatever he says, which may get you closer to the truth than anything else.

By Buzzle Staff and Agencies
Published: 9/4/2009
 
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