Another predictable government failure meant to "help people" who just didn't know better than to buy houses they couldn't afford.
This is why government programs in the name of "compassion" are a waste of money and are doomed to fail. They don't change the underlying issue that cause the problem in the first place.
This stimulated nothing except more debt, as predicted.
So now that it's official that the almost 1 trillion dollar stimulus is a complete, unmitigated failure, what should the smartest president evah do? We already know he wants to repeat his failure with another stimulus package. So what else?
Here's what any good progressive White House does when nobody takes them seriously with the term "saved or created" jobs. Change the talking point to "funded jobs".
That will actually make the effect of the failed stimulus look better.
Here's how:
When Chrysler reported a $53 million contract to build 3,000 government vehicles last fall, it listed zero jobs because it used existing employees to fill the orders. But under the new rules, those workers would have counted.
The Associated Press found that some recipients were counting pay raises as stimulus jobs. That will be OK under the new rules, but only if they are counted as fractions of a job.
The California state auditor rapped the state corrections department (PDF) for reporting 18,000 jobs instead of just 5,000 officers who had received layoff notices before stimulus money came in. But under the new guidance, the corrections department may have been right because stimulus money is helping it make payroll for all its employees.
A trillion dollar scam with money that doesn't exist until the bill is due. Thanks Obama and thanks all you people that voted for a feeling instead of a person. Thanks for putting an empty shell in the White House. Thanks for the ACORN community organizer as President. Thank you for a failure worse than Jimmy Carter.
So just what was this 800 Billion for? Not to mention TARP, Cash for Clunkers, Mortgage rescue to the tune of a couple billion, the latest jobs bill for about 20 billion...........
Let's not forget the State spending a few million here and there for "jobs". Remember CORE? Probably not.
Sooooooo predictable. A government programs costs way more than expected and falls short of promises.
In Indiana, state-trained workers flubbed insulation jobs. In Alaska, Wyoming and the District of Columbia, the program has yet to produce a single job or retrofit one home. And in California, a state with nearly 37 million residents, the program at last count had created 84 jobs.
AP using their favorite word; "unexpectedly". All these people are idiots, everything they've reported on, in regard to the economy, has been "unexpected" for almost 2 years now. Who are these people?
More "unexpected" news. Housing starts have plummeted since the gov't stopped paying people to buy or build homes.
SHOCKER!!!!!!!
It's scary to think that these people actually believe Obamanomics. Spend, spend and spend somemore. Ignore the fact that we're in debt by 13 trillion, his special "fiscal (ir)responsibility panel will fix that later (VAT).
The only question is, who does Obama replace on Mt Rushmore?
Housing starts fell more than expected in May to their lowest level in five months, a government report showed on Wednesday, as a popular homebuyer tax credit that had buoyed construction activity over the past two months expired.........The Commerce Department said housing starts dropped 10 percent to a seasonally adjusted annual rate of 593,000 units, the lowest level since December. The percentage decline was the biggest in 14 months. April's housing starts were revised down to show a 3.9 percent increase, which was previously reported as a 5.8 percent rise.
BTW, who are these idiots in the government that puts out a figure of 5.8% rise last month that has to be revised down to 3.9%? That number is off by 32%! How do these people keep their jobs?!!!
The tribe runs the sprawling Mohegan Sun casino, halfway between New York City and Boston, which earned more than $1.3 billion in gross revenues in 2009.
__________________ There is precedent for the mainstream media being megaphones for Democratic-manufactured hysteria. George Will
Today, there is a name for the political doctrine that rejoices in scarcity of everything except government. The name is environmentalism. George Will
And yet, we still have "experts" telling us we need to spend more! This guy is a disciple of the Paul Krugman school of economic illiteracy. Just another dimwit talking about "fixing roads and bridges". I've heard this song for a year and a half now. What happened to all the road and bridge repair from the other trillion we already spent?
How about some perspective with all the Bush Bashing. This years deficit is 10 times larger than the worst year of Bush with Republicans controlling everything.
And yet, the White House Money Man says we're still early in this recession. Sound like they're trying to lower expectations to you? These people don't speak on the Sunday shows without being prepped.
"Now, we've seen six months of positive job growth by the private sector. That's pretty good," Geithner said. "Pretty good this early in a recession......The Bureau of Labor Statistics (BLS) said that payroll employment declined by 125,000 jobs last month.
The annualized rate trails June 2009 annualized estimate by almost 8%, when construction had taken a dive during the economic collapse. The spending in the first half of 2010 is 11.2% lower than in the first half of 2009
The rats are jumping ship. All the Obama lemmings during the campaign are turning on him. Case in point, this guy runs US News and World report and was one of Obama's biggest cheerleaders and even wrote speeches for him. But now.......
People see the stimulus, fashioned and passed by Congress in such a hurry, as a metaphor for wasted money. They are highly critical about the lack of discipline among our political leaders. The question that naturally arises is how to forestall a long-term economic decline.
Here's a fact. 850 billion dollar stimulus was a waste, as predicted. So, let's do another. Just don't call it a stimulus.
BTW, notice how he needs a telemprompter for a press conference. I suppose someone has to feed him answers, he doesn't have any. It's all the republicans fault.
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