Stimulus Confusion or political psycho-babble?
In February, Obama Budget Chief Peter Orszag said, Stimulus money was to be spent quickly but in reality, only about 10% of Obama’s, “shovel ready” stimulus has been spent and now, some White House staffers are already seeking a second stimulus.
Hopefully not because Obama’s first stimulus was so successful?
In February Obama promised the unemployment rate would top out at 8% but without the stimulus would peak at 9%
On the 02 July the Labor Department reported that 14.7 Million Americans are currently out of work and the nations Unemployment rate now stands at 9.5%
Joe Biden acknowledged recently what “Hope-n-Change” and White House Staffers never admit publicly, we misread the economy but Biden stands by the stimulus.
Oh My!
Today, Obama says, more time is needed for his $787 Billion Dollar stimulus to work, pleading for patience now warns that unemployment likely will top 10% in the coming months.
Wrong in February, how much confidence should anyone have in Obama’s forecast?
Guessing on the economy, sinking us further and further in debt and delivering billions in stimulus dollars to areas of the country that voted overwhelmingly for Obama in 2008
Stimulus confusion, political psycho-babble and political cronyism—all recipes for economic disaster.