Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Obama spoke after stocks fell for a fourth week on concern that an economic recovery will be delayed. A government report last week showed that employers cut 467,000 jobs in June and the unemployment rate rose to 9.5 percent, the highest since 1983.
The weakening labor market is taking a toll on Obama’s popularity. A survey by Hamden, Connecticut-based Quinnipiac University released July 7 showed 49 percent of Ohio voters approved of Obama’s job performance, down from 62 percent in a May 6 poll. The disapproval figure for Obama was 44 percent, up from 31 percent in May.
Obama, in his speech, said the stimulus program is helping state governments save jobs. Were it not for the program, the president said, “state deficits would be nearly twice as large as they are now, resulting in tens of thousands of additional layoffs -- layoffs that would affect police officers, teachers, and firefighters.”
So did Obama lie before the stimulus bill was signed...to the public...or is he lying now?
We all know the stimulus bill isn't working, or should we ask the people who are losing their job this month?
And all the millions of people who have seen taxes increased on sigarettes, energy bill rates seen gone up, etc....
It seems the OP has committed an oversight. He/she forgot to mention that the stimulus bill was watered down significantly by the GOP - and by President Obama's interest in working in a bipartisan fashion. They demanded that about half the stimulus be in the form of tax cuts, so President Obama gave in on that - even though economists agreed that the tax cuts would have no impact. The GOP also reduced the size of the stimulus to the point where many economists agreed that it would be insufficient.
So. It probably has done some good in minimizing the disaster that was looming (and much of the stimulus money has yet to be spent, so it's too early to tell). But in all likelihood, more stimulus will be needed. Maybe this time, President Obama will learn not to listen to the GOP.
It's increasing the national debt into something that will NEVER be paid down.
It's putting the burden on generations of Americans to come.
Do you have any concept of history? Are you aware that our debt level is nowhere near where it has been in the past (as a percentage of GDP), even including the stimulus?
Throwing out completely baseless, hysterical comments doesn't help anyone.
At least 48 states addressed or still face shortfalls in their budgets for the upcoming year.
Even before the new fiscal year starts July 1, new shortfalls of $23 billion have opened up in the adopted 2010 budgets of at least 12 states and the District of Columbia. Shortfalls for fiscal year 2010 – those already addressed and those still open -- total $166 billion.
At least 29 states have prepared estimates for the 2011 fiscal year. Initial estimates of these shortfalls total almost $38 billion. As the full extent of 2011 deficits become known, shortfalls are likely to equal $160 to $180 billion.
Combined budget gaps for the remainder of this fiscal year and state fiscal years 2010 and 2011 are estimated to total over $350 billion.
Is it just me, or is the "police officers, teachers, and firefighters” argument just plain old and worn out? Of course we need these folks, but come on, putting them on a pedestal for political purposes is shady politics if you ask me.
Only 70% of the money will be in the economy be September. We won know if it "worked" until at least mid-late 2011.
what a joke. Mid 2011. The economy would be recovering anyway.
The mindless numbnuts in Washington do not even understand the housing crisis is the number one factor right now. I guess fixing bridges on the Merrit parkway, which is not creating any new jobs, will take care of the housing problem though.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
