Obama got a negative return on investment with his stimulus spending
New stimulus analysis shows Obama never understood investmentThe analysis shows that for ever dollar Obama invested he only got 44 cents back. In other words, he lost 56 percent of the US treasury he invested in a stimulus.
What a creepy thing to think it was Obama who managed the greatest portfolio out there: the U.S. Treasury. This guy couldn't invest to save Soros. He was a colossally bad investor, just as President Trump is a fairly good one – and who by contrast just happens to be cutting bureaucratic fat, waste, fraud, and useless regulations as the U.S. economy, by a weird coincidence to the left, booms, and the U.S. debt goes down. This is what an investorly take on a budget looks like.
Obama had none of that good sense.
What's fun about the piece is that Black isn't at all ideological in his analysis. He's purely a market guy. He points out that stimulus as a result of taking on debt really can work, and has, citing two great examples from relatively recent history that paid off: the Louisiana Purchase, which yielded an exponential return on the $300-million investment for the U.S. economy, and the case of tiny Panama, expanding its Panama Canal in recent years, a move that tripled its economy in the span of just a few years. Those were good stimulus investments, and they paid off, bigly. They were government spending, but they were managed as smart investments, with real payoffs.