BREAKING NEWS....Robert Gibbs and the Iraqi Information Minister have both been fired by Team Obama as Press Secretaries. Meet the new White House Press Secretary.....Jim Mora.
Posted on 06/08/2009 5:58:55 PM PDT by Libloather
As Stimulus Fails, It's Time For Plan B
Posted 06/05/2009 07:06 PM ET
Economy: Businesses shed another 345,000 jobs in May, about half the number expected. Meanwhile, the stock market has risen in 12 of the last 13 weeks. It looks like the "green shoots" are here — no thanks to the stimulus.
As we've been saying for months, the economy was due to turn around — with or without the stimulus package that was passed Feb. 17 amid much hoopla.
Recall that, at the time, the main selling point for the $787 billion stimulus package was that it would rapidly inject massive amounts of money into the economy through thousands of "shovel ready" projects just waiting to start up.
Nothing of the sort has happened. It's been a slow, grinding, bureaucratic mess, with few results.
So far, just $43 billion in stimulus money has been spent. As we've noted, that's nothing in a $14 trillion economy, and certainly not enough to account for the modest signs of recovery we're seeing.
The official government Web site, recovery.gov, said right after the stimulus was passed that it "will save or create good jobs immediately." And the chief White House economist in January predicted that unemployment would top out at 8% if the stimulus were passed. Well, we've lost 1.5 million jobs since the package was signed, while unemployment has hit 9.4%, a 25-year high. Enough said.
Weirdly, the White House on Friday announced tentative plans to appoint a "jobs czar" to oversee pay at companies taking bailout money. Shouldn't you wait until some jobs are actually created before creating a czar to monitor pay? Or is this just another attempt at controlling the private sector?
In a word, Washington's "stimulus" is a sham.
(Excerpt) Read more at investors.com ...
Plan B is to call all opponents of the administration racist.
Plan A fell flat. It was never intended to be a stimulus bill anyway.
So why would we trust this bunch with anything else. They now have a track record, and it’s abysmal.
So how much of the trillion dollars can we get back???
W was an idiot to agree to anything the democraps wanted, after what they did to his father. Both Bush’s signed onto the biggest tax increases in history
I think Reagan would have physically injured any republican who asked him to sign onto this piece of $hit
If Sarah runs on a platform of routing corruption AND gutting the federall govt. she will win in a landslide.
Come to think of it that would be a great 2010 platform too
Since 0bama has only spent about $40 billion of the $900 billion so far, maybe congress should demand he give the rest back, instead of letting him accelerate the rate of spending and saddle the US with a debt we will never be able to get out from underneath?
Someone posted this great one earlier today thought you might like it.
http://zerohedge.blogspot.com/2009/06/payroll-data-in-perspective.html
Plan B?? No Plan B! :)
BREAKING NEWS....Robert Gibbs and the Iraqi Information Minister have both been fired by Team Obama as Press Secretaries. Meet the new White House Press Secretary.....Jim Mora.
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