The American Recovery and Reinvestment Act of 2009 (ARRA) authorized $787 billion in ‘stimulus’ spending to revive the U.S. economy – later revised upward to $831 billion in ‘stimulus’ spending.
The money was fire-hosed out through some 27 government agencies, with the lofty expectation that it would generate a significant, long-lasting economic recovery with significant trickle-down benefits to American families
Here is a modest sampling of the agencies involved, courtesy of Propublica: Smithsonian ($25 million) National Endowment for the Arts ($50 million) NASA ($513 million) U.S. Agency for International Development ($38 million) Department of State ($564 million)
The U.S. government also airmailed out hundreds of billions of dollars, direct to major banks, via the Troubled Asset Relief Program (TARP), and the Federal Reserve transfused, direct to Wall Street’s financial sector, over $1.2 trillion via the Fed’s “secret liquidity lifelines.”
The results – anemic.
The economy is limping along with GDP barely scratching the 1.2% growth level.
American families are mired in poverty, according to Feeding America reports:
Poverty Statistics in the United States[i]
- 46.7 million people (14.8 percent) were in poverty.
- 15.5 million (21.1 percent) children under the age of 18 were in poverty.
- 4.6 million (10 percent) seniors 65 and older were in poverty.
- The overall national poverty rate according to the Supplemental Poverty Measure is 15.3 percent, as compared with the official poverty rate of 14.8 percent.[ii]
- Under the Supplemental Poverty Measure, there are 48.4 million people living in poverty, nearly 2 million more than are represented by the official poverty measure (46.7 million).[iii]
Very Low Food Insecurity & Food Insecurity in the US[iv]
- 48.1 million Americans lived in food insecure households, including 32.8 million adults and 15.3 million children.
- 14 percent of households (17.4 million households) were food insecure.
- 6 percent of households (6.9 million households) experienced very low food security.
Tent Cities Full of Homeless People are Booming – all across America (ZeroHedge)
Big government solutions have been, thus far, a travesty.
It is time to grant U.S. citizens the same ‘direct access’ to liquidity that as provided to Wall Street banks during the financial crisis (2007-2010).
The Leviticus 25 Plan 2017 – $75,000 per U.S. citizen The Leviticus 25 Plan 2017 (1662)