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Day By Day by Chris Muir July 14, 2009 – Not Much Up on Top
Day By Day by Chris MuirThe Obama Economic Stimulus has been a failure – at least so far. Even the President is backing away from his grandiose promises of jobs.President Barack Obama conceded Tuesday that the unemployment rate will keep growing for “several months” as he prepared to head to battered Michigan to unveil a plan to help train people for the next generation of jobs.
Obama is proposing a multibillion-dollar investment in the nation’s community colleges, a $12 billion effort to help the two-year institutions reach, teach and train more people for “the jobs of the future.” He was to outline his program in a speech Tuesday afternoon at Macomb Community College in Warren, Mich.
Before leaving town, Obama was pressed on how high the unemployment rate might climb. In Michigan, the jobless rate is 14.1 percent, worst in the nation.
“How employment numbers are going to respond is not yet clear,” Obama said after a meeting with Dutch Prime Minister Jan Peter Balkenende.
“My expectation is, is that we will probably continue to see unemployment tick up for several months,” Obama said. “And the challenge for this administration is to make sure that even as we are stabilizing the financial system … are people able to find good jobs that pay good wages?”
More than 2 million jobs have been lost since Congress passed Obama’s $787 billion economic stimulus package. Without that government intervention, Obama said, states like Michigan would be in even worse shape because they would have had to lay off more teachers, firefighters and other workers.
Obama said renewed hiring tends to lag behind other signs of economic recovery. The White House has been criticized for being overly rosy in its projections of the economic rebound, particularly in terms of employment.
Huh?
I thought economic stimulus was to stimulate the economy to employ people – not to bailout states to NOT layoff school teachers and other unionized public employees.
What a mess but at least Obama is consistent in his disdain for the private economy.
Obama can urge patience but the unemployed voters will hold him and his party accountable beginning NOW.
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Technorati Tags: Day By Day, Economic Stimulus, Barack Obama
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Day By Day by Chris Muir July 13, 2009 – Stimulus Hope and Change
Day By Day by Chris MuirThe likelyhood of another Democrat/Obama sponsored economic stimulus plan looks remote at this time. The American economy is not improving and the pork-laden first economic stimulus bill of almost $800 Billion is being considered ineffective at best and a complete failure at worst.The Democrats in Congress are in a bind. Only three Republicans supported the bill (including Senator Arlen Specter who changed over to be a Democrat soon after) and there is no political cover. If they try any of the ideas promulgated by the Repubican Caucus, they will be asked some hard questions as to why they didn’t implement these ideas in the first place.
However, without a new direction by empowering the private business sector and individual taxpayers, the Democrats chances of any immediate success is limited. Good luck with trying to sell today’s economic climate as “hope and change” in the 2010 Congressional midterm elections – especially with Sarah Palin pounding on the limited government themes.
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Technorati Tags: Day By Day, Economic Stimulus, Barack Obama
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Obama: $ 787 Billion Economic Stimulus “Has Worked As Intended”
The President might try a different embellishment.President Barack Obama said his $787 billion stimulus bill “has worked as intended†as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.
“It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,†Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.â€
Were it not for the stimulus program, the president said, “state deficits would be nearly twice as large as they are now, resulting in tens of thousands of additional layoffs — layoffs that would affect police officers, teachers, and firefighters.â€
In the weekly Republican response, House Minority Whip Eric Cantor of Virginia said the stimulus bill was “full of pork- barrel spending, government waste and massive borrowing cleverly called ‘stimulus.’â€
“The plain truth is that President Obama’s economic decisions have not produced jobs, have not produced prosperity, and have not worked,†Cantor said.
He said the Republicans want reductions in tax rates that he said would help middle-class families.
In asking for public patience, Obama said the recovery act “wasn’t designed to restore the economy to full health on its own, but to provide the boost necessary to stop the free fall.â€
I thought the economic stimulus pushed by the Democrats and Obama was all about JOBS? You know, like in putting people back to work.
Not to bailout bloated state governments, like California, who refuse to live within their means without more and more taxes.
The spin is not going to play too well and the polls reflect the public’s displeasure. But, to spin results and ask for patience?
This is not going to fly, Mr. President.
Listen to Republican Congressman Eric Cantor from Virginia:
House Republican Whip Eric Cantor (R-VA) delivers the weekly Republican address on the economy, the Obama Administrations trillion-dollar “stimulus” spending bill that isnt working, and Republican efforts to offer better solutions.
Technorati Tags: Barack Obama, Economic Stimulus, Porkulus, Eric Cantor
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Oh That Joe: Biden Defends Economic Stimulus Plan in Ohio
Another Biden gaffe?Vice President Joe Biden said the Obama administration’s efforts to rebuild America’s economy are working and he expressed frustration with those who say progress is too slow.
“Remember, we’re only 140 days into this deal. It’s supposed to take 18 months,†Biden said in a speech after touring a redevelopment project in Cincinnati.
Biden ticked off the programs funded through the $787 billion economic stimulus measure enacted in February. Thousands of jobs a day have been saved and interest rates have been kept low, saving middle-class families $1,200 to $1,600 a year in mortgage payments, he said.
Ohio’s economy has been hit hard by the recession. The state’s unemployment rate in May was 10.8 percent, up from 10.2 percent in April and higher than the national average of 9.4 percent. The state lost 4.9 percent of its jobs between May 2008 and 2009, and manufacturing jobs plummeted by 16.7 percent during that period, according to the Bureau of Labor Statistics.
The vice president’s trip follows a poll that found that President Barack Obama’s approval rating has dropped by 13 percentage points from two months ago in Ohio, traditionally a critical swing state in presidential elections.
The survey by Quinnipiac University released July 7 showed 49 percent of Ohio voters approved of Obama’s job performance, down from 62 percent in a May 6 poll. The disapproval figure for Obama in the new poll was 44 percent, up from 31 percent in May.
Ohio “has been hard hit through no fault of your own,†Biden told the crowd today. So far, $4.4 billion in Recovery Act funds have been set aside for Ohio, including $2 billion for education, $1 billion for health care and $445 million for transportation, he said.
“These investments are already lifting up Cincinnati,†he said.
Biden toured the site of the American Can Company, an abandoned factory on the city’s north side which is being converted into a complex of apartments, offices and stores. Stimulus funds will pay $1.6 million of the project’s cost and create as many as 100 jobs, Biden said.
No, just an embellishment of the truth which is worse.
There has been NO economic stimulus in Ohio or anywhere from the ridiculous spending in the Obama Porkulus bill that passed with only three Republican Senate votes (one of which then defected to become a Democrat).
Biden and the congressional Democrats need to take responsibility for their poor performance and patience in this case is just another excuse.
How about a real economic stimulus and cancel the rest of the pork spending, Mr. Vice President?
Technorati Tags: Joe Biden, Economic Stimulus, Porkulus
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Poll Watch: Consumer and Investor Indexes Drop to Lowest Levels in Months
This does not look good for the economy.
The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, dropped three points on Wednesday to 67.0, its lowest level in over two months. The index is down six points over the past week and down nine points over the past month. Today is the first update based entirely upon interviews conducted since last week’s report showing higher than expected job losses in June.
Nationally, 24% of consumers say the economic conditions in the United States are getting better, down five points from the end of last week. Fifty-two percent (52%) of adults say the economy is getting worse.
The Rasmussen Investor Index, which measures the economic confidence of investors on a daily basis, fell to its lowest level in three months. At 70.3, investor confidence is down fourteen points over the past week and fifteen points over the past month.
Among investors, 26% think the economy is getting better, down five points from yesterday. Most investors (51%) say the economy is getting worse, down from 43% before the job report was released.
No wonder the Obama Administration is floating the idea of another economic stimulus bill. The fact is economic stimulus I or Porkulus has been a failure and unemployment remains sky high.
Stay tuned……
Technorati Tags: Economic Stimulus
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Day By Day by Chris Muir July 8, 2009 – Run, Don’t Walk
President Obama’s and the Congressional Democrat’s propensity to TAX AND SPEND has already started with the failed Economic Stimulus I and add this to Cap and Trade, Obamacare, and Economic Stimulus II you have massive government spending.Who is going to pay for it?
American taxpayers making more than $250,000 a year?
Frak, there are NOT enough high earner folks to pay for it all.
So, what happens?
A Bill Clinton type reversal: A Middle Class Tax increase to pay for “INVESTMENTS.”
And, the RIGHT was worried about the 2010 midterm Congressional elections? Flap’s only hope is that Harry Reid rams all of these new taxes through the Senate earlier rather than later this Fall.
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Technorati Tags: Day By Day, Barack Obama, Economic Stimulus
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Poll Watch: 31 Per Cent Say Obama Economic Stimulus Helped The Economy, 27 Per Cent Say Hurt The Economy
Ridgway, the seat of Elk County, Pa., is seen nestled amid the green of the Allegheny Mountains, Wednesday, May 6, 2009. Officials and residents of the struggling manufacturing community are learning that they will receive no immediate money from the economic stimulus plan despite the 13.8 percent unemployment rate. Counties suffering the most from job losses are receiving the least help so far from President Barack Obama’s plan to spend billions of stimulus dollars on roads and bridges, an Associated Press analysis has found
So says the latest Radmussen Poll.The question:
So far, has the economic stimulus plan helped the economy, hurt the economy or had no impact on the economy?
- Helped – 31%
- Hurt – 27%
- No Impact – 31%
- Not Sure – 11%
This approval of Obama’s economic stimulus package is down seven points from when it was first approved in February.
In the meantime, Americans overwhelmingly say former President Bush is too blame for ongoing economic problems.
President Obama contends he inherited the nation’s ongoing economic problems and that his actions since taking office are not to blame. Sixty-two percent (62%) of U.S. voters agree with the president that the problems are due to the recession that began under the Bush administration.
Just 27% of voters say the problems are being caused more by the policies Obama has put in place since taking office, according to a new Rasmussen Reports national telephone survey. Ten percent (10%) are not sure which president is more to blame.
However, Americans are growing restless and those numbers will likely change, if by the end of the summer, the economy has not dramtically improved.
Technorati Tags: Barack Obama, Economic Stimulus -
Poll Watch: 55 Per Cent Opposed to New Economic Stimulus Plan
The latest Rasmussen Poll shows little American voter support for a new Economic Stimulus bill.
Just 27% of voters nationwide favor passage of a second economic stimulus package. The latest Rasmussen Reports nationwide telephone survey found that 55% are opposed and 19% are not sure.
Despite the public opposition, 74% say it’s likely that Congress will try to pass another stimulus plan before the year is out. That figure includes 45% who say it’s Very Likely that Congress will do so.
The Obama/Democrats realize the first $ Trillion PORKULUS Stimulus Law will do LITTLE to increase jobs – as the GOP in Congress maintained all along.
So, they will give it a second go, when the economy does not dramatically improve.
But, who will pay for all of the spending?
Technorati Tags: Barack Obama, Economic Stimulus
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PORKULUS: Feeling UNSTIMULATED About the Democrat/Obama Economic Stimulus Bill?
In his book “Capitalism and Freedom” (1962) Milton Friedman (1912-2006) advocated minimizing the role of government in a free market as a means of creating political and social freedom.An excerpt from an interview with Phil Donahue in 1979.
If conservatives (Via Instapundit) are feeling unstimulated or down about the apparent passage of a $1 trillion government spending spree, watch the above exerpt of Milton Friedman and remember why a limited government role in free market capitalism creates more political and social freedom.
Definitely food for thought.
Technorati Tags: PORKULUS, Milton Friedman, Barack Obama, Economic Stimulus
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The Democrat/Obama Economic Stimulus Bill Stimulates What? ITSELF
Daniel Henninger of the Wall Street Journal: What is Congress Stimulating?Daniel Henninger has a piece in today’s Wall Street Journal calling the Democrat/Obama Economic Stimulus bill, S.1 a BOMB.
Senate Minority Leader Mitch McConnell says, “Everybody agrees that there ought to be a stimulus package. The question is: How big and what do we spend it on?”
Sen. McConnell should reconsider. He knows that the Bush-GOP spending spree cost them control of Congress in 2006. Thus, “How big?” is not the question his party’s constituents (or horrified independents) want answered. This is a chance for the GOP to climb down from its big-government dunce chair. Until that reversal is achieved, there is no hope for this party.
I think that behind the bill’s sinking public support is the sense that it won’t work and its cost is dangerous. The bill’s design, an embarrassment to Rube Goldberg, is flawed. Even were one to grant the Keynesians their argument, this is a very mushy, weak-form stimulus.
Rather than try to “reform” it, which won’t happen, Sen. McConnell should ask President Obama to pull it and start over. One guesses that privately the president’s economic team would thank the senator. If he won’t pull it, the Senate Republicans should walk away from it. This bill is a bomb. It may wreck more than it saves.
Indeed the Senate GOP should walk away from PORKULUS like the House.
Let Obama and the Congressional Democrats eat this pork-laden CRAP Sandwich.
Technorati Tags: Barack Obama, PORKULUS, S.1, Economic Stimulus