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Semantics really don't matter when unemployment is almost 10% and millions don't have a paycheck.
Apparently reality doesn't either, because a lot of folks around these parts feel free to just ignore it.
Quote:
Originally Posted by cdne
As for the $787 "stimulus package",....call it earmarks or pork,....there is a tremendous amount of waste and political payback,....enough that even the dimocraps should be ashamed to be associated with its passage. After all, it was a dimocrap bill, written by dimocraps, for dimocraps, and signed into law by a dimocrap.
Actually, a lot of Republican input was sought and received in drafting the stimulus bill. A lot of people worked through the Xmas holidays, for instance, to tailor additional tax cut proposals that were suggested from that other side of the aisle. Republican governors and mayors got funding for many of their shovel-ready projects. And as you may recall, the final package bore the significant stamp of Specter, Snowe, and Collins.
Well, you and the one guy who writes that free-market blog supposedly do. The people who prepare the Index of Leading Indicators don't use rail data in their model. Probably just an oversight...
...because it doesn't look good, so let's leave it out.
If Ben Bernanke and the IMF are willing saying that our economy is on the mend then it must be true! Officialdom would never make claims about something they don't understand.
Heed Bernanke's warning...
"U.S. Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the dollar's status as a global reserve currency isn't at risk in the near term, but warned that could change if fiscal deficits aren't brought under control." Bernanke: Dollar Will Be At Risk If U.S. Doesn't Control Budget Gap
We're screwed unless Obama cuts way back, and gets his spending under control:
"In the first independent analysis, the nonpartisan Congressional Budget Office concluded that President Obama's budget would rack up massive deficitseven after the economy recovers, forcing the nation to borrow nearly $9.3 trillion over the next decade." Obama's Deficit - washingtonpost.com
Is this what the 0bama Stimulus Plan was supposed to do... kill the construction jobs, and only health and education jobs increase?
Quote:
Construction jobs took a huge hit in September, with 64,000 jobs being cut. Manufacturing shed 51,000 positions, and the service sector cut 147,000 employees in September.
Government jobs also declined, with 53,000 federal, state and local jobs being cut. Local government — where foreclosures, the business downturn and unemployment have hurt revenues from taxes — cut the most, reducing their payrolls by 24,000 workers.
Health and education — considered to be the bright spots on the jobs horizon — only added 3,000 jobs last month.
I thought it was going to stimulate the economy with all those "shovel ready jobs"?? I'd say 64,000 shovels is a lot of shovels sitting idle, but then again, 0bama says "the stimulus package is working exactly as we had anticipated."
I'm trying to understand what everyone is upset about.
Is it the fact that the "stimulus" exists and that we didn't allow the free market to work no matter what the cost in terms of unemployment?
Or is the fact that - irrespective of political leanings - we expect the government to intervene in the free market to mitigate unemployment and there is a feeling that the intervention isn't working.
Of course, we don't know how bad unemployment would have been - or will get - without the "stimulus" so it is kind of difficult to argue that it isn't working.
It looks like 0bama is sitting on double digit unemployment.
If you count people who aren't working and aren't looking for work. My dog would fit that definition if it weren't for the people part...
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