From Stephen Moore:
What has been the price tag for the audacious Obamanomics experiment? How much has it all cost — the bailouts, the debt, the stimulus plans, the printing of cheap money, Obamacare and all the rest?
The answer to that question is just north of $10 trillion. That’s the sum of the $8.3 trillion added to the national debt since Sept. 15, 2008 (the day Lehman Brothers filed bankruptcy) for all the government spending, and the $3.5 trillion of easy money flushed into the economy by the Federal Reserve through the initial monetary expansion and three rounds of quantitative easing.
If you’re counting, there’s 12 zeroes in $12 trillion.
This gargantuan number helps explains why Americans aren’t buying into this “recovery” — and why they flatly reject President Obama’s proclamation that everything is so much better than when he entered office.
It explains why a majority of Americans think the economy is headed in the wrong direction even as the government statistics on jobs and inflation suggest improvement.
Read more: Washington Times
