Earlier this year we were told that the Economic Stimulus package was essential to curb job losses and provide stability to the fragile economy.
It is now June, and the jobless rate has hit 9.4%, the dollar is tanking, the housing market is still struggling, and the Federal Reserve is still operating in secret while screwing the country with its pants on. And Obama’s solution to this problem is to spend the stimulus faster:
“Less bad” is not good enough, Vice President Joe Biden said Friday, announcing that the Obama administration will introduce plans to speed up disbursements from the economic stimulus package to try to curb continuing job losses.
The Labor Department announced Friday that 345,000 jobs were lost last month, and May’s unemployment rate reached 9.4 percent, up from 8.1 percent in February when Democrats in Congress ushered through President Obama’s $787 billion stimulus plan.
The administration at the time claimed that without it, the job rate would hit 8.8 percent in 2010
These politicians in Washington seem oblivious to the fact that the incredibly large economic “stimulus” bill the passed simply isn’t working, and that more of the same isn’t like to improve the situation.
An economy is not measured on the amount of people it has working, but rather by its true growth in terms of accumulated real wealth and capital. High unemployment rates are a symptom of a larger problem, contrary to the beliefs of many of the people who run this country and use their positions to produce make-work jobs which in turn produce little more than votes.Published in