Posted on 09/05/2010 5:59:36 AM PDT by Libloather
'Recovery Summer' Ends With Economic Pothole
by Scott Horsley
September 3, 2010
Whatever happened to recovery summer?
This was supposed to be the season the economy heated up, thanks to a wave of public works projects, funded by the government's stimulus program. But summer is coming to an end, and the recovery has not taken root. (The Labor Department on Friday reported a slight rise in the unemployment rate to 9.6 percent in August as more people were looking for work.)
And before long, stimulus dollars will be fading like autumn leaves.
None of that is encouraging for President Obama, who launched the summer with a crew in hard hats in Columbus, Ohio, on June 18.
"Today, I return to Columbus to mark a milestone on the road to recovery: the 10,000th project launched under the Recovery Act," Obama said, announcing a $15 million effort to widen a roadway and add bike lanes.
Recovery summer was partly designed to recover the reputation of the government's $787 billion stimulus program. While many economists believe that program has worked to boost employment, the public is unimpressed. Advisers say by front-loading the stimulus with tax cuts and aid to states, they were able to get the money out quickly, but at the expense of visibility.
"As happened with many decisions, pragmatism won out," said outgoing White House economic adviser Christina Romer this week.
(Excerpt) Read more at npr.org ...
If recovery Summer hadn’t created a bajillion jobs, we’d be in REAL trouble now!
What tax cuts???
I guess all the locals were at work. /s
Enough of Obama’s Recovery ... Can I have my Bush Recession Back??
/s
“We believe in one spender,
The Government, the Almighty,
Stimulator in times of great distress.
We Believe in Obama,
The only son of a Kansas girl.
He was conceived out of wedlock
By the power of young love
And Born nearly fifty years ago.
He can do no wrong.
We believe in the Holy Congress,
The giver of all life,
From whom all good things come.
With the power of the Federal Reserve,
And the eminences of the Supreme Court, The Congress is worshiped and glorified.
They shall spend us to prosperity now and forever.
Amen.” “
I think it amounted to thirteen bucks. You didn't get yours? You got stiffed.
Oh you mean the reduction in the income withholding amount that ended up shrinking my tax return?
You’re right, I got stiffed.
And there ya have it. That, and a Franklin, may get your tank filled.
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