Posted on 08/18/2010 9:13:31 AM PDT by george76
It was "dumb" for President Obama and his aides to promise that unemployment would not surpass 8 percent if the stimulus act passed...
Rep. Barney Frank (D-Mass.), the chairman of the House Financial Services Committee, called into question the wisdom of projections issued by the Obama administration during the congressional fight over the stimulus bill that argued it would prevent higher levels of joblessness.
Frank said Tuesday evening during an appearance on the Fox Business Network. "That was a dumb thing to do."
(Excerpt) Read more at thehill.com ...
ht comments
This from the architect of the Freddie/Fannie debacle.
I’d tell Barney to stick his observations about economics where the sun don’t shine, but he’d enjoy it too much.
Oh wait.
Somewhere W is smiling broadly.
Not only was it dumb to predict, the whole stimulus approach was dumb.
This is Frank doing damage control.
The fact is they just pissed trillions of dollars away to do a little pork barelling and screw the people once more.
The Dems are history. So is Obama. You had your chance, now you go.Please go quietly before we stuff a rag in your mouth.
But, but, Barne......ALL the economists agree with Obama ALL the time.
Obama KEEPS TELLING you that, and the economists NEVER say he’s wrong about that.
Yes, he should have predicted 15%.
Its dumb to be the cause of 10.5% joblessness too. Why do so many Hyphenated-Americans love this guy and his clan for destroying their lives and the lives of their deceased relatives that fought so hard for the Union. So sad.
I think he meant to say “stupidly”.
Mmmm Mmmm Mmmm
What a surprise - that Barney Frank would have 20-20 “hindsight.”
Is frank up for re-election this year?
He is in the house. Every seat is up every two years.
Yep, Barney is up for re-election. Time to shift gears until November 3rd. How stupid are voters if they vote to re-elect this idiot? Stupid is as stupid does.
Or in zero’s famous words, sit down and shut up - get out of the way!
Epic failure. Dare I say, “unprecendented”.
“In the nation, this bill will provide 3.5 million jobs in the next two years,” said Klobuchar,
...“Ninety percent of them will be in the private sector,” she said. .
This legislation will create and save 3 to 4 million jobs, rebuilding America, making us more globally competitive and energy independent, and transforming our economy for long-term growth; give 95% of American workers an immediate tax cut; and invest quickly in the economy – with 75% spent in the first 18 months. For example, the plan provides $45 million to Minnesota in Byrne grant funding, which would keep police officers on the beat all across the state. It will also provide about $685 million to the Minnesota Department of Transportation for “shovel-ready” construction projects that can be up and running quickly.
“This recovery plan puts Americans back to work fixing our roads, bridges, and schools,” said Walz. “At the same time it calls into action our entrepreneurs, engineers, mechanics, electricians, and other laborers to transition our country to energy independence and bring the power and opportunity of high-speed internet to all corners of rural America. What’s exciting is that southern Minnesotans can benefit greatly from this strategy. Experts say more than 90 percent of the jobs created will be in the private sector.” added Walz.
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