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Wednesday, August 26, 2009

Stimulus promises not fulfilled when it comes to jobs

At the six month anniversary of President Barack Obama's "achievement"

...the $787 billion stimulus measure-

it's important to separate economic fact from fiction.
Although Democratic lawmakers were convinced to pass the massive spending bill
"without reading it",
the White House promised the stimulus would provide "an immediate jolt" to the U.S. economy. Thus creating millions of new jobs and keeping unemployment under 8 percent.

None of these promises have materialized.
If the stimulus is working so well, where are all the jobs?

There are 2 million Americans who have lost their jobs, the economy continues to contract and the unemployment rate is at 9.4% and looks like that will increase.
The government reported that mass layoffs are at a record high.

The reason why?
The stimulus is too slow and not focused on jobs. Only 10% of this stimulus money has hit the U.S. economy.
There is no way you can least with a straight face that this is driving the economy to recovery.
Only 1/2 of the stimulus spending will make its way through federal and state bureaucracy by early 2011.
This of course will be long after the economy really needs it and it is just as the "critics" (as we are called) predicted.

Here is a breakdown of some of the spending:
5% is funded for roads and infrastructure.
Stimulus dollars will be wasted on things like buying new public art (rather than helping small businesses survive)
Far too much of the spending has been wasteful.

Everyday the media reports on some outrageous spending:
  • $3 million turtle crossing in Florida
  • $50,000 for a hand puppet project through the National Endowment for the arts.
  • New office furniture for federal executives.
  • In Union, NY the city was given $600,000 for a homeless program. The city doesn't have homeless issues nor a homeless program.
Is this how we want our tax dollars spent?
Borrowing more than a trillion dollars to pay for all this eventually will put a drag on America's recovery, along with increased energy prices from the cap-and-trade scheme and major tax increases on professionals and small businesses included in the health care reform bill.
I didn't say this? I never agreed to this? Did You?


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