Romer: Stimulus Working Despite Job Losses

Romer: Stimulus Working Despite Job Losses

moneynews.newsmax.com

White House economic adviser Christina Romer said on Thursday that the $787-billion U.S. stimulus program was stabilizing the economy despite unacceptably high job losses.

Romer, chairman of the Council of Economic Advisers, delivered a lengthy defense of the Obama administration's stimulus program before the Economic Club of Washington, saying the spending impact will grow over time.

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[edit on 7-8-2009 by TheAssociate]

But she acknowledged that a report on July unemployment, to be issued by the Labor Department on Friday, was likely to show the economy continued to shed hundreds of thousands of jobs and a higher unemployment rate.

I believe she is quite correct in that statement: the stimulus is working exactly as TPTB intended it to. It's given the federal government unprecedented control over the economy and hence more control over our lives, and it's actually making the economy worse which translates to even more control. Romer is 100% right: things are going exactly as planned.


TA

moneynews.newsmax.com
(visit the link for the full news article)

[edit on 7-8-2009 by TheAssociate]

The real unemployment number is now at 30 million. Those drawing unemployment + those who's unemployment has run out + those who have given up looking or gone back to school because of no jobs.

I think that translates to 20% of the work force. Unfriggin real that they would claim the stimulus has worked. The Fed just had to buy up our own debt because China was a no show. Yeah we are rebounding

I think this is called a jobless recovery. Sounds great, don't it The Obama folks said just the other day the the housing crisis won't hit bottom until next year when over 50% of the houses will be worth less than they were financed for. Some recovery, eh?

Wait until people who can't afford a new car try to buy a good used one. They are all being destroyed. The used car lot next to my office is already having trouble finding good used cars. I don't think they will last much longer without a good inventory. What now, do they buy the poor who need a car to get to work a new car on us?

Don't blame me, I voted Libertarian in protest.

reply to post by Blaine91555


Great points Blaine91555, thanks and star for posting.

Don't blame me, I voted Libertarian in protest.

and


TA

reply to post by TheAssociate

Romer: Stimulus Working Despite Job Losses

Sure it is...
I put that statement on the truth meter below the old standards:

The check is in the mail.
I'm from the government and I'm here to help you.

I'll leave the third one out, because this is a family show.