Impatience builds over slow-moving stimulus

The record-breaking $787 billion fiscal stimulus package that Congress passed in February is not breaking records on the job front. In California, with 11.5 percent unemployment, it has done little more than prevent layoffs of state workers.

In response, Democrats who sold the stimulus as a way to cap the national unemployment rate at 8 percent are scrambling to explain why hundreds of thousands of jobs disappear each month.

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Posted by Leo Romero - via Google News (U.S.)

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Review

Samuel W.  Velsor IV
3.7
by Samuel W. Velsor IV - Jul. 12, 2009

Failed to mention how much of their problems were made by their own lack in passing needed tax legislation.

California is in big trouble with unemployment at 11.5 thats 2 point over the national average. Their problems are self made as the people of California voted some insane tax rules, and the recent election they voted no on all of them. So until they fix their own house we, the federal government should not help them

As President Obama’s first signature achievement, touted as not only promoting recovery but laying a new economic foundation, the stimulus is drawing fierce GOP attack, stirring agitation on the left for a second stimulus and sowing doubts about Obama’s credibility on health care reform and energy.

Another stimulus no. What is needed is a bill that is mandatory in nature to increase the amounts people get for unemployment; lets say after a period of 180 days when all reserves of the unemployed are exhausted or with a proof of assets.

But the application process alone will last until October, while construction for any approved projects is months away. Critics say the slow rollout points to a flawed stimulus design.

Could not be more true, it is not flawed it was broken out of the gate.

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Samuel's Rating

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3.7

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