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(CNSNews.com) - White House Press Secretary Jay Carney said last week that the $831 billion economic stimulus law that President Barack Obama signed on February 17, 2009 is “widely recognized to have broken the back of the recession.”
"Cost" over runs already ?
When President Obama signed the law three and a half years ago, the Congressional Budget Office estimated it would cost $787 billion. Since then, the CBO has revised its estimate, eventually concluding the stimulus cost $831 billion.
They forgot to tell us that it also broke our backs too !!
In January 2009, the month before Obama signed his stimulus, the national unemployment rate was 7.8 percent, according to the Bureau of Labor Statistics. It has not dropped below 8 percent in any month since then. In February 2009, it hit 8.3 percent. In June 2012, it was 8.2 percent.
In January 2009, there were 12,049,000 unemployed people in the country, meaning there were that many people age 16 and older who wanted a job, had actively sought one in the previous four weeks, but had not been able to find one. In June 2012, there were 12,749,000 unemployed people—or 700,000 more than there were the month before Obama signed the stimulus.
Originally posted by Carseller4
Passing the porkulus was supposed to have prevented unemployment from going over 8%.
We haven't been close to 8% since.
Anyone else hear the report that consumer spending was down last month over the month before?
Some recovery we got going on here.
Originally posted by OutKast Searcher
reply to post by xuenchen
I'm not sure if you have noticed or not...but you are praising Obama.
Putting a next to the statement doesn't make it untrue...the Stimulus did break the recession...all facts and figures confirm this.
You can continue to pretend that we are in a worse economy than when Obama took office...but people are being hired now instead of fired...people's retirement accounts are now growing again instead of being destroyed...and companies are making profits rather than taking losses.
I know you think you can trick people with silly pictures and faces...but it just looks very very desperate on your part.
Originally posted by projectvxn
reply to post by xuenchen
With manufacturing slow downs come weak retail sales. And eventually, IF the trend continues, more layoffs. Which means we'll be back to square one. The problem with spending policies like the stimulus is the fact that you can get stellar short term effects. But in the long term SOMETHING has to replace government spending, preferably, something with economic value that doesn't involve taking money from one pocket and putting it in the other.
Another point I'd like to add is that while hiring does seem to be spurring for now, the jobs that are becoming available aren't exactly high end, and high end jobs used to pay more than they used to. Your dollar also used to buy more too. These things are a sure sign that the short term effects of the stimulus and QE policies from the FED are beginning to wane.edit on 16-7-2012 by projectvxn because: (no reason given)edit on 16-7-2012 by projectvxn because: (no reason given)edit on 16-7-2012 by projectvxn because: (no reason given)
Improve enforcement at the border to ensure that counterfit goods are not brought into the US from China
Protect and pursue legal rights by having the Office of the United States Trade Representative pursue all significant claims of unfair trade practices, and have a more active role in encouraging private firms that have been victimized to raise claims both in U.S. courts and at the WTO.
Impose targetted tarrifs or sanctions on Chinese firms or industries that rely on unfair practices or misappropriated American technology for their competitive advantage.
Have the Department of the Treasury in a Romney administration designate China a currency manipulator and have the Department of Commerce impose countervailing duties.
End US government procurement of Chinese goods until China agrees to the WTO’s Government Procurement Agreement