Truth is the beginning of wisdom…


Posted by straight shooter on July 7, 2009 under Economy, General, Political

The June jobs report shows the president’s economic “stimulus” package is not producing the quick results the Obama administration promised Americans.

Employers cut 467,000 jobs in June, and the unemployment rate rose to a 26 year high of 9.5%. The Heritage Foundation, says the Obama administration has failed to deliver on its vow to create new jobs for Americans.

“You know, we heard buzz words like ‘shovel-ready construction projects’ – and [now we can] look at the job numbers,” says Hederman. “We see that construction has continued to shed jobs. We know that 5% of all architects have lost their jobs in 2009 alone because there is not enough construction planning coming forward.”

The stimulus bill was a huge amount of money that is being poorly spent, poorly targeted, and is not having the effect that was promised to us.

Back in February, the director of President Obama’s National Economic Council, Larry Summers, promised the effects of the stimulus would “begin almost immediately.” In addition, White House Budget Director Peter Orszag said Americans would see stimulus benefits in “weeks to months,” and Christina Romer, chair of the President’s Council of Economic Advisers, predicted “we will start adding jobs, rather than losing them, at more than half a million a month.”

It is easy to see why the stimulus has been ineffective. The majority of provisions in the package were typical government pork spending – members doing favors for their districts back home. Most of these aren’t focused on happening quick … and in most cases were far from necessities.

Hederman observes, “We’ve taken money from the private sector to have to pay for the stimulus package – so it is not really going to have a big effect.”

Once again the fear mongering lies are exposed.