Maxine Waters’s startling call for a trillion-dollar jobs bill this past week sent shudders down the spines of Democrats–for more than one reason. In addition to her ubertransparency about the progressives’ Keynesian desire to heap debt upon debt, you have to wonder if they’re hoping no one remembers what happened almost exactly one year ago this week.
It was September 16, 2010, when President Obama signed into law the Democrats’ Small Business Jobs Bill, a behemoth lending program in the mold of the TARP bailouts with a soaring price tag–and even more soaring promises from the promoters of this spending.
Clocking in at a sobering $30-billion, The Small Business Jobs Act was touted as the last, best chance for the Democrats to show the country how their solutions would restore our economy’s strength. The premise was that the Treasury would flood banks with capital, in the hopes that they would lend the money to small businesses–despite the lack of any requirements for banks to use this money to lend.
Some of the claims made exactly one year ago this month, as part of the full-court-press marketing for The Bill to End All Jobs Woes:
“Democrats estimate the measure could create 500,000 new jobs,” one reporter noted in September of 2010.
From the Democrats’ House Committee on Financial Services website:
“I agree that he [Obama] must have a jobs program. Let’s create jobs. I’m talking about a program of a trillion dollars or more.”
What will the world look like in September 2012? At this rate, we’ll have Debbie Wasserman Schultz and Jan Schakowsky teaming up for a quadrillion-dollar sure-fire New-York-Times-endorsed Jobs Bill that promises to fix all our problems for good.
Oh wait…
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cross-posted at www.rebelpundit.com