It may be difficult for some to recall, but President Obama repeatedly promised the American people in 2009 that his $787 billion economic stimulus program would create millions of new jobs and shrink the unemployment rate as it jolted the economy into sustained growth. He also promised it would spark a “green revolution” in energy, put a million zero-emission electric vehicles on the country’s roads, and lift two million people out of poverty. Joining Obama in making those promises were then-House Speaker Nancy Pelosi and Senate Majority
Leader Harry Reid, the dynamic Democratic duo who, let it not be forgotten, actually stitched together the Obama stimulus program behind closed doors.

It’s now five years later and Obama’s chief economic advisory council is still peddling snake oil about the stimulus program, this time in a commemorative report: “The recovery act had at most a minimal impact on the long-run debt — and the additional growth it produced likely further reduced or eliminated its cost.” In other words, the council would have the country believe that the $787 billion program actually cost little or nothing. If they’re serious, members of the council must also believe in unicorns.