President Obama's very own Council of Economic Advisers has released a scathing report on the impact of his near-trillion-dollar economic stimulus package. Its analysis: Each job created or saved cost the American taxpayer a whopping $287,000.
The insane punking of America punks on.
It would have been much cheaper simply to write a check for $100,000 to each person who found a job or whose job was saved because of the president's stimulus/fleecing package. That would have saved the taxpayers almost $500 billion.
Yet this president wants Americans to believe that Fedzilla is a good steward of taxpayers' hard-earned money. Sure, and while we are at it, Mr. Obama, let's raise the debt limit another trillion or so dollars so we can allow Fedzilla to borrow and burn up hundreds of billions of other tax dollars that our grandchildren have yet to earn.
Of course, the White House disputes its own economic council, as the White House knows that very bad economic news travels very fast.
I will bite, Mr. President. So if you believe your Council of Economic Advisers is wrong and did not factor in infrastructure, education and industries investments to the stimulus/fleecing package, what number is it that you and your other White House fleece-masters believe to be accurate for each job created or saved: 200K, 150k, 100k per job? Let's have it, Mr. President.
And while Fedzillacrats on both sides of the political aisle have been guilty of pouring gas on a blazing tax-dollar inferno in hopes of putting out the fire they started, Mr. Obama has to swallow a bitter economic pill.
Since Mr. Obama breezed into the White House on a message of "hope and change," he has increased the nation's debt by more than 4 trillion in less than three years and has caused unemployment to rise, not fall. Blame George W. Bush if you want for all this bad news, but it is Mr. Obama's political neck in the economic noose.
Bad economic news is all this president and his fantasy-driven supporters have had to swallow since coming into office. That is the result of subscribing to bad economic advice and policy that purports that Fedzilla, not the free market, knows best.
My own gut-check economic analysis is that when the stimulus dust finally settles and the truth shines through, the American taxpayer will have been fleeced for almost the entire trillion-dollar stimulus.
What we are witnessing is an economic train wreck, and Mr. Obama is the willful engineer. Learn your lesson well, America. Never allow Fedzilla to do what the free market can and should do and is able to do much cheaper and more efficiently. Until then, enjoy your fleecing.
Bend over Red Rover, let Fedzilla take over.
Ted Nugent is an American rock 'n' roll, sporting and political activist icon. He is the author of "Ted, White and Blue: The Nugent Manifesto" and "God, Guns & Rock 'N' Roll" (Regnery Publishing).