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WASHINGTON — A top White House economist says spending from the $787 billion economic stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year.
Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said Thursday that the $194 billion already spent gave a jolt to the economy that contributed to growth in the second and third quarters of the year. She told a congressional panel that by the middle of next year, the impact of the stimulus will level off. Romer said spending so far has saved or created 600,000 to 1.5 million jobs but warned that unemployment will remain high, above 9.5 percent, through the end of 2010.
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So, if the stimulus has already had it's impact, and next year is expected to be flat, does that mean we need another stimulus?
WASHINGTON — A top White House economist says spending from the $787 billion economic stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year.
Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said Thursday that the $194 billion already spent gave a jolt to the economy that contributed to growth in the second and third quarters of the year. She told a congressional panel that by the middle of next year, the impact of the stimulus will level off. Romer said spending so far has saved or created 600,000 to 1.5 million jobs but warned that unemployment will remain high, above 9.5 percent, through the end of 2010.
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So, if the stimulus has already had it's impact, and next year is expected to be flat, does that mean we need another stimulus?
Not only do we not need another stimulus we don't need to spend all that is left from the first one. Lets apply it to healthcare or something like that where it could help. Spending never has done what the Dems seem to think it will do, like it or not.
I read today some of the insane pet projects that billions of these dollars have gone to. One project received over $300,000 to study the sex life of freshmen girls. This is insanity running the country.
I read today some of the insane pet projects that billions of these dollars have gone to. One project received over $300,000 to study the sex life of freshmen girls. This is insanity running the country.
WHAT? Who, who's pet project is that? I don't care if its a democrat or republican...WHO?
I read today some of the insane pet projects that billions of these dollars have gone to. One project received over $300,000 to study the sex life of freshmen girls. This is insanity running the country.
I agree with you but getting in on that study may have been a good thing without any money.
I read today some of the insane pet projects that billions of these dollars have gone to. One project received over $300,000 to study the sex life of freshmen girls. This is insanity running the country.
Wow, I would have done that study and not charge the taxpayers a dime!
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