“We (the United States) tax everything that moves and doesn’t move ..” — Quote from Senator Hillary Clinton.
The house of cards is beginning to fall. The numbers and optimism from the White House is unsubstantiated. This morning during Obama’s address he stated there will be even more job losses. These are the first truthful words he’s spoken in a while. Now let’s all sit back and let Pelosi ruin the insurance industry so this “recovery” takes 20 years instead of 10.
Sure, the stimilus has created jobs but at what costs? It’s like saying someone paid 100 dollars for a piece of chewing gum but lets forget its costs and focus on the fact that we have chewing gum. This is a waste of tax payers money and indicates that this administration lacks the intelligence to implement cost effective and long lasting solutions for the economy. For example it’s easy to take out a $15k cash advance to pay bills for the next 3 months but is it a good idea? Perhaps the better idea is for someone to manage and do cost cutting on their budget while looking to earn some income. It is freightening to see how ignorant the people who are running this country are when it comes to finance.
The banks have made money hand over fist when the Federal government (read themselves) bailed them out and left us with a big fat tab. That in all reality is we were broke before the defecation hit the rotary oscillator. But banks getting money and not loaning in a credit based society in a service based economy is not growth.
$160,000 Per Stimulus Job? White House Calls That ‘Calculator Abuse’
Original article from ABC News Blog
Posting its results late this afternoon at Recovery.gov, the White House claimed 640,329 jobs have been created or saved because of the $159 billion in stimulus funds allocated as of Sept. 30.
Officials acknowledged the numbers were not exact, saying that states and localities that reported the numbers have made mistakes.
In recent days, the Recovery Act board has been reviewing all the numbers, with many inaccurate ones having been posted. California’s San Joaquin Regional Rail Commission received $5 million in stimulus funds to hire workers to build addition train track for the Union Pacific Railroad in an economically tarnished spot of the Golden State.
Brian Schmidt, director of planning and programming for the commission said that his staff originally reported to the Obama administration that the stimulus money saved 250 jobs. Then, realizing they had mistakenly double credited, they later changed that to 125 jobs. Tuesday, they updated it again to 74 jobs.
DeSeve and Bernstein were not able to say how many of the 640,329 jobs were saved and how many were created. How do they know that government officials asking for stimulus funds to help prevent layoffs were legitimate?
“What we have to do is expect that our public officials are honest,” DeSeve said. “I know that’s a high bar.”
Of the 640,329 jobs cited today, White House officials said 80,000 were in the construction sector and more than half — 325,000 — were education jobs, despite President Obama’s claim in January that 90 percent of the stimulus jobs would be in the private sector. Bernstein said Mr. Obama’s pledge was an assessment of the totality of the jobs saved or created by the end of 2010.
Officials pointed out that today’s report did not include jobs saved or created by more than $80 billion in tax cuts, as well as other money in the $787 billion stimulus package, such as $250 stimulus checks for 54 million Americans.