Biden Defends Stimulus, But Better Economy Isn’t Helping Obama

By MASSIMO CALABRESI / WASHINGTON Massimo Calabresi / Washington – 1 hr 5 mins ago

Proving a negative is always a challenge, but there’s mounting evidence that the controversial $787 billion stimulus bill is achieving one of its major goals: shortening the recession. Economists at Goldman Sachs say that the bill, officially called the American Recovery and Reconstruction Act, has resulted in a 2%-3% boost to annual GDP in the second and third quarters of this year, turning what could have been a worsening recession into potential growth. For President Barack Obama, whose poll numbers have dropped precipitously from around 65% to around 50% as Americans have become worried about government spending and health-care reform, that should be good news: he fought hard against Republican opposition to push the bill through Congress as one of his first legislative acts, and the fact that it’s working should be a vindication.

But it’s not that easy. Recent polls show widespread disapproval of the stimulus bill: 51% of Americans polled last month by USA Today and Gallup said they thought the government should be spending less under the plan, while 44% said they thought the government was spending the right amount, or should be spending more. If anything, it seems, the stimulus plan is hurting the President even as it helps the country.

The most obvious reason for that disconnect is jobs: despite the signs of a turnaround, unemployment remains stubbornly high at 9.7%, with employers cutting 216,000 jobs in August. While jobs always trail economic rebounds, the unemployment number is higher than economists thought it would be, even in the worst case scenario forecast by the Treasury department’s “stress tests” last spring. The point is not lost on Republicans, some of whom have argued lately that no more of the stimulus money should even be spent. “The metric of this bill was job creation,” says Don Stewart, spokesman for the Senate’s top Republican, Mitch McConnell, “and it hasn’t done that.”

—-And this very telling portion buried in the middle of the article:

Except, as it turns out, the very thing that makes the stimulus help the economy in the short term is a political loser: the program is giving most of its money to the poor. Of that $88 billion, the majority has gone to low-income recipients. Nearly $28 billion has flowed to Medicaid; $19 billion to unemployment payments; $10 billion to states to bolster educational programs that primarily target the poor; $4 billion to student financial assistance; and $1 billion to rental assistance, among the biggest ticket items alone. And that doesn’t even include the share of the $62.5 billion in tax breaks available to the poor through the cut in withholding taxes; the Making Work Pay program, which gives tax breaks to wage earners; and the extension of COBRA Health insurance benefits.

Rest of article: http://news.yahoo.com/s/time/2.....9192048100

—-The TIME article goes on to explain further dismay over the ridiculous spending measure. For me it was an expose on how a pound of cure (spending) has tried to solve an ounce of problem (the recession) that is “All Bush’s fault”.

Leave business cycles alone, and yes, jobs will be lost, but I cannot tolerate this false argument that by giving all this money to the poor somehow helped the economy recover from the worst recession since the great depression.

I cannot help but think that they KNOW the recession will eventually reverse course (they always do, even if left alone completely) and that they will claim credit for it (of course) and simultaneously administering their version of “social justice” by financing the poor (pronounced “black”) and draining the coffers that take a long time to fill. Additionally, only 11% of this “stimulus” has been spent and it cannot, by all admissions by experts, be directly correlated to any indicators of recovery.

Thank God there are Americans who are willing to take a stand; to “take the plane back.” For the passengers of Flight 93, they armed themselves with nothing more than a serving cart & boiled water. They took their plane back. They paid the ultimate sacrifice for the sake of what’s right & for the sake of our country.

Today, millions of Americans are taking our country back for the sake of America; because it’s right.

“Let’s Roll!”

Improving economy not likely to lower jobless rate

By CHRISTOPHER S. RUGABER, AP Economics Writer Christopher S. Rugaber, Ap Economics Writer – 43 mins ago

WASHINGTON – The economy is showing consistent signs of improvement, but probably not enough to stop employers from cutting jobs or to keep the unemployment rate from rising.

The Labor Department is expected to report Friday that the jobless rate increased to 9.5 percent in August, from 9.4 percent in July, as employers cut 225,000 jobs.

The employment report will follow other recent data that shows the economy is pulling out of the worst recession since World War II. A trade group reported Tuesday that the manufacturing sector grew in August for the first time in 19 months, while home sales have increased for several months.

But the economy isn’t expected to grow strongly enough this year to persuade companies to ramp up hiring. Most economists expect the unemployment rate to top 10 percent by early next year.

Rest of story: http://news.yahoo.com/s/ap/200.....us_economy

—–Seems there’s a slight disparity here. Who am I to believe? What do I do? Would someone please tell me!

Every time he opens his mouth I am more and more convinced.

http://www.nytimes.com/2009/09.....=1&hp

The company has been under criminal investigation not once, but twice, in the past two years. Their track record is so dubious that they are not allowed to bid on or perform any work on New York City schools.

Can anyone imagine how bad a company would have to be before they were not allowed to perform any work on New York schools?

FACT CHECK: Biden ignores problems with stimulus

By BRETT J. BLACKLEDGE, Associated Press Writer Brett J. Blackledge, Associated Press Writer – 16 mins ago

WASHINGTON – Vice President Joe Biden proclaimed success beyond expectations Thursday for the $787 billion economic stimulus, but his glowing assessment overlooks many of the program’s problems, including delays in releasing money, questionable spending priorities and project picks that are under investigation.

In a speech aimed squarely at Republican criticism and public skepticism over the costly program’s effectiveness, Biden said accomplishments over the past 100 days provide proof of promises kept when he and President Barack Obama began rolling out the plan earlier this year.

“The Recovery Act is doing more, faster and more efficiently and more effectively than most people expected,” he said.

The stimulus program includes tax cuts, billions for Medicaid and unemployment benefits, and a massive federal investment in education, environmental projects, technology and traditional infrastructure work. The administration has struggled to make the case that the huge spending program has delivered real economic recovery at a time when the nation’s unemployment rate threatens to top 10 percent.

Biden, Obama’s chief stimulus cheerleader, proudly pointed to more than 2,200 highway projects Thursday funded by the program, but didn’t mention the growing frustration among contractors that infrastructure money is only trickling out and thus far hasn’t delivered the needed boost in jobs.

(snip)–The problem is with money for building projects, not roads and highways, Sandherr said.

(snip)–after his office discovered that the Obama administration used stimulus money to pay for 50 airport projects that didn’t meet the grant criteria and approved projects at four airports with a history of mismanaging federal grants.

(snip)–ignored the millions of dollars in savings the Defense Department lost because it hasn’t competitively bid many of the jobs.

(snip)–But most states are spending stimulus money on bridges that are already in good shape, another AP analysis found.

Rest of story: http://news.yahoo.com/s/ap/200.....fact_check
——–

So here we are with (yet again) “It is so because I (we) say it is so. To question it is unamerican”

Hey Joe, over here….yeah….lookit THIS….(you freakin’ moron).

The media is a big part of the shuck and jive act.

But you know, if the Obamy Cabal gets its way, 98% of the media will be serfs, right along with the rest of us. That’s how it has always worked out. At least, for those smart enough to keep their mouths shut.

Job losses for August are coming in higher than “expectations”.

Imagine that.

The entire Obama administration is nothing but one big shuck and jive act, while they takeover the country.

They are truly, as you said, masters of deception with that lovable dunce schtick.

Makes me want to puke on my cornflakes, eat them then puke again.

They literally will say anything.

And the lies aren’t little white lies to avoid hurting somebody’s feelings. The lies are monumental and are meant to conceal trillions of dollars of deceipt and payolas, and illegal power grabbing.

That’s why I say they are all criminals. Even a slug like Biden who comes across as an amiable dunce. He’s no amiable dunce. That’s his schtick, his shell game, his mask. He’s as criminally culpable as any of them.

Whenever you hear somebody lying continually, something illegal and/or immoral is afoot. There is simply no reason for them to do it if they weren’t stuffing moolah in their own pockets or abusing their office in some other form..