Posted on 07/05/2009 11:57:01 PM PDT by RobinMasters
WASHINGTON -- Vice President Joe Biden said the Obama administration "misread how bad the economy was" and didn't foresee unemployment levels nearing double digits, in comments likely to intensify calls for the administration to do more to counter job losses.
Some economists are pressing the White House to enact a second round of stimulus spending or find some other way to avert a prolonged job and wage slump. But the White House is in a tough spot. Officials want to give the $787 billion stimulus package passed in February time to work -- only 10% of the spending is out the door so far -- and there is little appetite in Congress, particularly among Republicans, for spending more money at a time of record deficits.
(Excerpt) Read more at online.wsj.com ...
Ah, yes, the usual libtard response to their failing policies: our ideas have not been implemented *enough*. We need MORE socialism/communism, it’s failing because we don’t have enough taxing/spending/corruption/regulation/power etc...
God how I loathe this ideology.
Typical liberal ideology, if it don’t work throw more money at it.
Wake me up from this endless nightmare!
Throw money you don’t have at it. They aren’t counting.
They targeted the stimulus to take effect in late 2010 or 2011. They knew exactly what they were doing. Now they’re going to try to pass the bill they should have passed before, if they couldn’t resist. (None of these should pass, but we knew there would be two as soon as we saw no early spending in the last one.)
Have the Republicans gown a pair yet. If Franken is seated, it won’t make any difference anyway.
We're $12 Trillion in debt and are mimicking 3rd world countries.
Fix the damn currency first!
When your only qualification is to "read", this is not good!
We need to rename the current economic malaise,
Maybe:
.:Obama's Depression:.
Below is a must watch video below we are setting up a “Global Warming Gestapo” and in the following the money tradition biden is just setting up another stimulus
Does Wall Street Hate Capitalism?
Dear Fellow Conservative,
What if you discovered that the vet who takes care of your dog was Michael Vicks? Would you think twice about bringing Fido back for his annual shots?
Or what if you discovered that your auto mechanic was a member of Greenpeace? Would you think twice about having him work on your SUV?
Of course you would. Just as, I hope, you would think twice about trusting your retirement savings to someone who secretly despised — or simply didn’t understand — the free-market capitalist system that makes profits and prosperity possible.
Yet that, believe it or not, is exactly the position millions of Americans are finding themselves in today — as they discover that Wall Street, far from being a stronghold of “rich Republicans” and “laissez-faire capitalists,” is actually dominated by liberal Democrats who support, overwhelmingly, the prosperity-wrecking big-government policies of Barack Obama and his merry band of neo-socialists.
Think I’m exaggerating? Consider the following facts and statistics:
According to an analysis of Federal Election Commission records by the Center for Responsive Politics, the 2008 Obama campaign received $12.6 million from Wall Street “Securities and Investment” firms versus McCain’s $7.9 million
The top three corporate employers of donors to Barack Obama, Joe Biden, and Rahm Emanuel were Goldman Sachs, Citigroup, and JPMorgan
Employees of Lehman Brothers alone gave Obama $370,000, compared to about $117,000 to McCain. (No wonder Bush let them go under.)
Since 1998, the financial sector has given a total of $37.6 million to Obama, compared to $32.1 million to McCain. But Obama ran for his first national office only in 2004. So McCain got less from the financial industry in a decade that included two runs for president than Obama did in four years.
What’s this all about? Well, you see, the financial industry takes care of Democrats — and as we’ve seen in recent months, the Democrats take care of the financial industry. After all, it’s a lot easier to get rich by taking money from taxpayers than to do it by choosing consistently profitable investments for your clients. Little wonder then that BO and biden are setting up another stimulus and trying to force you to pay for that as well as Crap and Trade for their banker buddies.
http://bluelori.blogspot.com/2009/07/we-are-setting-up-global-warming.html
http://www.businessinsider.com/bidens-just-setting-up-the-second-stimulus-2009-7
I agree that the full brunt of the stimulus is designed to fall in 2011 - an election year. People have short memories, so no sense wasting it all now.
I think another stimulus is dead in the water.
“The more the plans fail, the more the planners plan.”
Ronald W. Reagan
How can they claim they didnt know the economy was this bad when their own liberal economists like krugman and roubini were shouting that this is what would happen? I dont claim to understand economics but I remember krugman saying that unemployment was going to shoot towards 10 percent even WITH the stimilus because it didnt do enough job creation fast enough.
Yes I agree. There’s a pittance of a flow right now, but the big guns come out the year before the election. Going to be a whole lot of gravy floating around.
ACORN will be hiring. ;-)
The stimulus wasn’t about jobs creation. It was setting up the climate for the 2012 election, something Obama thought he needed to get re-elected.
Now that doesn’t mean that government jobs won’t increase in 2011 on. That may very well be true. I don’t know every detail, so there may be some private sector stimulus in round about ways too.
Still, when you look at some of the big projects, I think they’re geared to making Democrats and the easily swayed to think Obama really cares. Chaching! X (a (D) vote)
Do you think the rise in unemployment is a big surprise to Obama? I doubt you do. I don’t. All the more reason for folks to need him real bad. He’ll fix it.
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