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Posted by: willottica 7 months ago
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willottica7 months ago
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In 4 months. Well, if you compare it to Bush's accomplishment:
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1% in 4 months * 3months / year * 8 years... At that rate, Obama will add 24%. Bush added 69%.
Sounds like about 1/3rd of the amount to me... AND he's trying to stimulate the economy!-
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nostalgia7 months ago
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Are you seeing any stimulus??
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Look at recent headlines
Missouri's Using Stimulus Money to Pay Tax Rebates - is this what was intended with the stimulus money?
IRS tax revenue falls along with taxpayers' income
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.
Police officers saved by stimulus may still lose jobs
It was a success story the White House was eager to highlight: Earlier this year, President Obama attended the graduation of 25 police recruits in Columbus, Ohio, touting it as a victory for the federal stimulus package.
Without the money, the officers never would have hit the streets. They were to be laid off before their first day of patrol, victims of city budget cuts, until the stimulus money saved the class.
But the White House said the $1.2 million grant only guaranteed their jobs until the end of the year. And facing a growing deficit and a fight to pass an income tax hike, Columbus Police on Tuesday announced massive budget cuts that could mean hundreds of layoffs.
Among those who could lose their jobs if voters reject the increase: the 25 new officers who shook the president's hand.
It's not working!
As Federal tax revenues tumble, the deficit will grow
The Obama budget also projects GDP will grow by 3.5% in the last quarter of this year - a pipe dream-
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quackpot7 months ago
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Countering your opinion is the opinion of Leading Economists who think the recession will end in 2009 according to a survey published today.
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http://money.cnn.com/2009/05/27/news/economy/NABE_...-
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nostalgia7 months ago
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Well Quack you need to read more than one source
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U.S. economy at risk of double-dip recession
The U.S. economy appears destined for several years of weak growth and high unemployment that leave it vulnerable to a recession relapse after the massive dose of government stimulus wears off.
While tepid growth looks likely to resume late this year and build modestly into 2010, the credit bust has left households and businesses unable or unwilling to borrow and spend as freely as they did before the crisis.
The U.S. government has stepped in as lender and spender of last resort, but its deep pockets are not bottomless. Waning political and investor appetite for taking on more debt could stand in the way of any additional big spending plans.
"When you remove the government stimulus, what the private sector can generate in terms of growth feels like a recession," said Jeffrey Rosenberg, head of global credit strategy at Banc of America Securities Merrill Lynch in New York.
Rosenberg thinks the U.S. economy may trudge along at a sluggish growth rate somewhere in the range of 0.5 percent to 1.5 percent while banks recover from the credit crisis, which could take another three years.
"If that's what you're able to generate, that economy is not generating the job growth required to bring the unemployment rate down," Rosenberg said.
This is a much darker outlook than the one put forward by President Barack Obama's administration in its latest budget projections, which show economic growth bouncing back to 3.2 percent next year and hitting 4.6 percent by 2012.
http://www.reuters.com/article/reutersEdge/idUSTRE...
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