Saving America’s Economy

The picture above shows what the current crop of Republicans in Congress have to run on in elections this fall.  How successful do you think this strategy will prove to be?  Although the Party of No didn’t participate beyond saying, “Hell No!,” here’s some facts about how the Stimulus bill passed by the Democratic majorities under the leadership of President Obama has saved America’s economy —

• Income tax rates in 2009 were the lowest they’ve been since Harry Truman was president.  The tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007.  Federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports.  One-third of last year’s $862 billion economic stimulus went for tax cuts.
• Most state governments counted on The Stimulus money to stay afloat.  Most states are now seeing reports from their Departments of Labor showing how many jobs in their states are funded solely by The Stimulus package.
• American auto makers are making profits again.
• In 2010 small businesses will receive a tax credit of up to 35% of their premium costs for employee health coverage.

Check out the web site where the Obama administration is tracking the money.  It’s an enormous task — publishing a real-time, reliable accounting of what the government is doing — and it wouldn’t have been possible a decade ago. Call it Government 2.0, or Democracy 2.0 — Deputy OMB Director Rob Nabors says it’s time for a new era. “We’ve never really been in a position before where the government took on the responsibility of showing at a state level, at a local level, how federal dollars are being spent.  We’re allowing the public to connect the decisions that government makes in a way that’s relevant to their civic lives,” he says. “And that feedback look gives a sense of empowerment that they never had before.”

Recovery is slow going, but this wasn’t any run-of-the-mill recession, it was the worst economic downturn since the Great Depression.  Our economy continues to sputter and joblessness persists — there is still work to be done, but great progress has been made.  Obama’s economic policies helped America avoid a depression.  America is going forward!  We’ll get there even without Republican help.