Crashing Down

27May10

There’s talk at the White House of need for a new stimulus.

Larry Summers, President Barack Obama’s top economic adviser, has asked Congress to “grit its teeth” and approve a fresh fiscal boost of $200bn to keep growth on track. “We are nearly 8m jobs short of normal employment. For millions of Americans the economic emergency grinds on,” he said.

And there’s John Kerry talk.

Times are tough, especially among those still looking for good jobs, but Sen. John Kerry doesn’t think Washington’s to blame. In fact the former Democratic presidential candidate, concerned with the anger voters are aiming at Washington, says that his party and President Obama are doing a ship-shape job. [See which industries contribute to Kerry’s campaign.]

“We’ve come back,” he says of the nation, Wall Street, and the economy. “This is an amazing resurgence.”

Who ya gonna call?



One Response to “Crashing Down”

  1. Progressive Math (there ain’t nothing fuzzy about this):

    $787,000,000,000 / 682,226 funded jobs = $1,153,577 / funded job – http://www.recovery.gov/Pages/home.aspx .

    Oh yeah. That’s ship-shape for Government – DEATH for ANY private buisness but ship-shape for Government.

    Seeing how well the first stimulus package worked, it’s only natural for a progressive to spend yet more (blaming Bush, of course) to create funded jobs.

    And yet… progressives (like Chris Bowers) are already bemoaning the fact that the proposed $253 B second stimulus package(s) may not receive all of its funding!

    “Unfortunately, passage of all that spending is extremely unlikely. Already, the $23 billion in funding to local school districts is on the chopping block. Most of the remaining $27 billion in domestic spending that House Democrats are looking to attach to the war supplemental will also likely be cut… House Dems will have to scrape to get every dollar they can… Once the bill does finally pass the House, it will take four days for the bill to pass the Senate, given likely objections from Republicans,” – http://openleft.com/diary/18859/more-details-on-the-pending-second-stimulus-bills

    Mr. Bowers NEVER even mentions that the deficit will balloon to more than $2 TRILLION this years! As of April 2010, this year’s deficit is pegged at $1,752,946,000,000 – http://www.fms.treas.gov/mts/mts0410.pdf . Add the $253,000,000,000 to it and you have $2,005,946,000,000! Truthfully, if they’re serious about pushing the deficit to $2 TRILLION this year, we’re screwed as a nation.


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