Reality is WAY Overrated

In his weekly radio address, President Obama praised the many successes of his $787 billion Stimulus package. 

He prepared his remarks from abroad this week where perhaps the view is a little bit different. 

We take a look:

 “We took steps to re-start lending to families and businesses…”

Banks Get Stingy On Credit; New Cards Cown 38%

 “…Stabilize our major financial institutions…”

Bank of Wyoming Seized; 53rd U.S. Failure This Year

“…and help homeowners stay in their homes and pay their mortgages.”

Foreclosure Rates Continue To Rise

“[The Recovery Act] was designed to spur demand and get people spending again…”

June Is Another Weak Month for U.S. Retail Sales

“And it was designed to save jobs and create new ones. “

Job Market Takes Turn For Worse

“In a little over one hundred days, this Recovery Act has worked as intended.”

J.