Of the many thoughts I had watching President Barack Obama's umpteenth speech on the economy Thursday morning, the most troubling was his refusal to accept responsibility for his disastrous policies.
With unemployment having soared to 10.2 percent, wouldn't it have been reasonable to expect that any Obama speech on the economy would at least acknowledge that his "stimulus" plan didn't come close to achieving the results he promised, starting with his claim that unemployment would peak at 8 percent?
Even a fallible leader would be humbled by this failed performance, but enjoying messianic stature, the expectations bar is rightfully much higher for Obama. Yet instead of showing contrition, he took to the microphone in a surreal, boastful mode, as if calculating that assuming an offensive posture would fool people into ignoring reality.
He bragged about the "bold steps" he had taken "to break the back of this recession." He said he'd prevented "responsible homeowners from losing their homes ... cut taxes for middle-class families ... and created and saved more than a million jobs." But, "We all know that there are limits to what government can and should do, even during such difficult times."
Let's examine his claims. Bold actions to end the recession and "created and saved more than a million jobs"? Well, he has engineered massive spending and debt explosions, but many weren't even calculated to stimulate the economy, especially in the short run.
ABC reported that as of Oct. 30, the White House claimed 640,329 jobs had been created or saved as a result of the $159 billion in stimulus funds allocated as of Sept. 30, a figure provably bogus on its face, considering that the jobs reports were inflated and that many of the "created" jobs were short-lived and already over. But ABC noted that even if you accept the administration's projected figure of 1 million, which Obama is now clearly claiming, the math indicates that the stimulus cost taxpayers $160,000 per job created or saved.