Obama’s Stimulus Spending Doesn’t Help Economy

The data is in for April. Here’s what happened:
Household personal income (inflation adjusted) rose, but every penny -- and then some -- went into savings or paying down debts.
Consumer spending, on which Barack Obama is betting to stimulate the economy, actually fell. None of the stimulus money was spent. None.
Meanwhile, to pay for this stimulus spending that didn't stimulate, Obama had to borrow so much money that long-term interest rates have almost doubled since he took office, forcing  postponement or abandonment of business expansion and hiring across the board.

The stimulus package was a total and complete failure. But the debt sure piled up.
The deficit quadrupled and is sending interest rates soaring, as the government elbows aside businesses and consumers at the loan window, all in a desperate effort to borrow enough money to spend enough money to stimulate the economy, which isn't happening.
Barack Obama has fatally undermined our currency, our solvency, our financial stability and -- ultimately -- our economy, all to spend money that has had no economic effect!
His goal was never to stimulate the economy. His goal was to expand government spending, and he used the recession as an excuse to do so. And, by this standard, he is a raging success.
But the results are in: None of Obama's spending is doing anything to help the economy.
Excerpts from a column by Dick Morris and Eileen McGann