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  • Morning Bell: $787 Billion in Stimulus, Zero Jobs "Created or Saved"

    On February 11th, President Barack Obama stood on a windy hilltop in front of a dusty construction site in Fairfax County, Virginia, and promised the American people: “Here in Virginia, my plan will create or save almost 100,000 jobs, doing work at sites just like this one.” Standing alongside current Democratic National Committee Chairman and former-Gov. Tim Kaine, the President continued: “Where we’re standing, that could mean hundreds of construction jobs. And the benefits of jobs we create directly will multiply across the economy.” Eleven months later, none of those promised jobs have been “created or saved.” In fact, the Obama administration quietly announced last week that they were dropping the fraudulent “saved or created” terminology altogether.

    The failure of Obama’s $787 billion stimulus is particularly acute in Virginia where, as Heritage fellow Ron Utt has documented, despite $695 million in allocated infrastructure funding, only 16% of designated projects had begun. House Transportation and Infrastructure Committee Chairman James Oberstar (D-MN) even publicly complained about Virginia’s slow transportation spending, writing to Gov. Kaine: “your state ranks last among all states [51 out of 51, including the District of Columbia], based on an analysis of the percentage of Recovery Act highway formula funds put out to bid, under contract and under way.”

    But even where infrastructure spending has been spent, the hard evidence shows that there has not been any positive effect on unemployment. According to an Associated Press analysis reviewed by independent economists at five universities, the $20 billion spent nationwide on infrastructure so far “has had no effect on local unemployment rates.” And this was just the most recent embarrassing headline for the White House’s signature economic policy. Since the first reporting deadline in October, newspapers and other media outlets across the country have identified 94,341 fake jobs reported by the Obama administration as jobs “created or saved” by the stimulus. After the Government Accountability Office issued a report finding “significant reporting and processing problems that need to be addressed,” Obama administration spokesman Ed Pound offered this defense of the Obama administration’s jobs numbers: “Who knows, man, who really knows.”

    Now Office of Management and Budget Director Peter Orszag issued a little-noticed memo last month ending the “saved or created” metric and instead directing agencies to count only jobs “funded” by stimulus dollars. But as Harvard University labor economist Lawrence Katz tells ProPublica, this is not really an improvement: “I just think it’s a silly exercise.” Instead Katz says a more accurate way to account for the effect of the stimulus is to look at the unemployment numbers put out by the Bureau of Labor Statistics.

    That is a great idea. The latest BLS report issued last Friday found that the U.S. economy dropped 85,000 jobs in December, bringing the jobs lost total to 2.7 million since the stimulus was passed and 3.4 million since Obama became President. In contrast, the President’s White House Council of Economic Advisers had promised total employment of at least 138.6 million by 2010. Actual employment as of December was reported to be 130.9 million, leaving the Obama jobs deficit at 7.7 million.

    The problem with infrastructure spending as stimulus, and really government spending as stimulus, is that Congress does not have a vault of money waiting to be distributed. Every dollar Congress injects into the economy must first be taxed or borrowed out of the economy. No new spending power is created. It is merely redistributed from one group of people to another. Businesses are telling pollsters that among the biggest reasons they are not creating jobs is the prospect of new tax and regulatory burdens. A better solution to reduce unemployment is to simplify and reduce the barriers to business success.

    Quick Hits:

    • According to a new report from the Centers for Medicare and Medicaid services, the health bill passed by the Senate on Christmas Eve will increase national health spending by $222 billion over current law.
    • The latest CBS News poll shows that just 36% of Americans approve of President Obama’s handling of health care, while 54% disapprove.
    • According to Rasmussen Reports, 58% of voters disapprove of the Obama administration’s bailout of GM and Chrysler, and 56% disapprove of bailing-out banks and other financial institutions.
    • Twenty Democratic House members, including Speaker Nancy Pelosi (D-CA) and Majority Leader Steny Hoyer (D-MD) along with related staff took a tax-payer funded trip to the failed Copenhagen Climate Summit, including the use of three military jets: two 737s and a Gulfstream Five.
    • Seeking to repair Venezuela’s floundering economy, strongman Hugo Chavez threw his country into chaos by devaluing the Bolivar by half.
    Posted in Ongoing Priorities [slideshow_deploy]

    58 Responses to Morning Bell: $787 Billion in Stimulus, Zero Jobs "Created or Saved"

    1. stirling, Pennsylvan says:

      I would hope that any politician (in the future) would never EVER use the term "Created or Saved Jobs" again. It's a term that is getting old faster then a Top 40 song played 10 times an hour. This term will forever be tied to this President and his failed Jobs policies. I would vote against any politician that uses this term in an election campaign just on the basis that it's a lie to begin with.

    2. LGR, Gladewater, TX says:

      The last paragraph is the issue: it is money taken from one group and given to another. Maybe the next administration will follow the money, recover some, and pursue charges against that unidentified group to whom it was redistributed.

    3. Dusty says:

      I work in the oil and gas industry and I have been worried about layoffs even the gas prices still. High gas prices doesn't mean they making outrageous profits. When the gas prices go up so does the cost drill well or service already producing. This global warming is a bunch of crap. I'm still made that our president bowed to a king and apologized for us feeding the world. This country is making dumb moves.

    4. Bill Hylton, Little says:

      Many of the claims of "jobs created or saved" are so off the wall that they invite derision. One envisions the writers of the web postings snickering as they type.

      Had such postings occured during the Bush administration, the hue and cry for a special prosecutor and for aticles of impeachment would consume half of the daily "news hole," and justifiably so.

      Where are the conservatives in Congress? How can they watch these developments and not wonder where the money is really going? How can Republicans claim to be the watchdogs of the public's money and give the administration a pass on this?

    5. Keith, Andes Mtns. says:

      Pathetic. But at least in the USA, you get who you vote for.

    6. JFBeck says:

      When this fraudulent Goverment we have in place is finally exposed in the coming months as to their true intentions, that is to bankrupt this economy to "force" the collectivation of all labor sources, there will be such an upheval in this country beyond anything this Congress could ever imagine.

      This Treasury Secretary AIG fraud just reaching Fox News this morning is all one needs to know and the lame explaination from the press secretary showing all signs of a cover up coming through loud and clear by again dodging the questions. Such contempt for the American people.

      This first thing that needs to happen is for MA to vote in the Republican Senate candidate to send the final message that the fraud is over and that the citizenary is coming with pitch forks. By Spring, you will see a complete "bail out" of the Obama Admin crooks to save their collective posteriors.

    7. George, Akron, Ohio says:

      The bigger problem is that the liberal Democratic left has another agenda; they really are not that interested in creating jobs…they want to destroy the present economic system and have more and more people dependent on them for everything. Same with 'health care', they don't care about our health or anyone elses, they just want total control of our lives. It's greed and power. They're not stupid…they're ruthless!

    8. Kzoobob, Michigan says:

      If they really wanted to stimulate the economy the $787 billion should have gone to the taxpayers who would have actually spent that money and the economy would have had an upturn.

      Those who benefited were the very people who created the disaster. As it was passed it actually added a significant burden to the very people it was supposedly designed to help.

      Let "We the People" be mindful of what and what is not Constitutional and remind our government officials via the ballot box.

    9. Lee Winslett, Kennes says:

      Does this news come as a surprise to anyone? The liberals have always known the figures were manufactured. Conservatives have been "trumpeting" "lies,lies,…" since this garbage started!

    10. Jon, Radcliff, KY says:

      Of course there has been no jobs growth. Just as very little of the stimulus money has been released. For anyone with any political saavy should know that it is not yet time to put the plan into effect.

      The Democrats know that the masses are "too stupid" to be trusted to do the right thing, so Obama &Co. will wait for the right moment. That moment will be later this year, when the cash flood gates will open job creation will be exploding and everyone will be very happy.

      When will this be???

      Why, just in time for the lead in to the elections of course, the time when Obama's use of your tax money, to buy your vote will be the most effective.

    11. RICHARD says:

      OBAMA has oversteped his powers and his plan seems

      to be to bring the country to its knee's so he can put

      his socialism in effect. The new plans that he has are

      sad to get money back which the public would have to

      end up paying for with pass on charges. Some how we

      must get the American people to stop watching the major news to force them to tell the truth and report the

      real news.

    12. Earl, QUEENS, NY says:

      WHAT A JOKE!! Saving or creating jobs? The fact is, we've lost millions of jobs since the obamanation began almost a year ago!! Can BHO and his Democrats honestly answer some questions? First – why did the $787 billion (pork filled) stimulus bill FAIL to keep the unemployment rate no higher than 8%? Of course BHO’s likely answer would be that he didn’t realize how bad the problem he inherited was – or the ‘Blame Bush’ mentality. So the second question: Why did BHO run for president if he couldn’t handle this situation? Third, if Bush and the GOP were so bad, why was the economy so much stronger, and unemployment rate so much lower, 5 years ago before the Democrats took back Congress? Finally, to some 63,000,000 ignorant voters, what made you think BHO and the Democrats would cure an ill economy? Are you oblivious to the failures of FDR, LBJ, Jimmy Carter, et al? It’s now evident that come the 2010 and 2012 elections, we now really need change. And it would’ve been better to maintain status quo (keep the GOP in control) back in 2006 and 2008.

    13. Ricky Rabinowitz says:

      You mentioned that "Every dollar Congress injects into the economy must first be taxed or borrowed out of the economy. No new spending power is created." Not necessarily true. See article I, section 8 of the Constitution: "The Congress shall have Power To…coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures…" This is important for a few reasons. First of all, the Federal Reserve is a bit unconstitutional and needs Congressional oversight. Second of all, the Congress can create money.

      Ah, you might say, what about inflation? That depends upon whether the economy is doing all it can do (whether the economy is at full employment and is not overwhelming its energy/ infrastructure supplies, pretty much – and, in a service economy, employment is key – you get more folks employed or some folks richer, more money goes around, and so on and so forth). If the economy is overwhelmed, then inflation goes up.

      The problem with the stimulus seems obvious to me – too many folks Scrooging it up and hogging their stimulus cash for themselves, and too little being spent in any case. The upshot is that since the money is given to companies, of course they'll drain off some of it for profit and then say x number of people are hired or y number are hired – and not necessarily hire that many people. The government should've looked up to the 1930s and done the dirty work itself, not outsourced it, if it wanted more control over the work.

      But there's yet another problem – power corrupts, and absolute power corrupts absolutely. How do we know the government isn't going to a) hog the money for itself, b) reroute the money in a very political fashion, or c) reroute money for stooges? We don't. But we can't be sure Main Street won't also prove a money hog, or Wall Street, or anybody else. After all, everybody wants more. So what should we do? Yes, spend more at the federal level, BUT hold the government accountable for its spending, by keeping a close watch on it, and try to do the same for the government's beneficiaries. (It would be nice if nobody scandalized and everyone debated rationally, but anything the government does is scandalized, regardless of its merits or demerits, and the demerits played up in the media, which is unfortunate.)

    14. Ricky Rabinowitz, Ne says:

      Oops on location.

    15. Lynn, Austin says:

      Jon from Kentucky, I believe you right on the mark. Also, since the Dems don't seem concerned about their re-election chances and are determined to cram socialized medicine down our throats (and it's not about health care, it's about government control) even with 60%+ of their constiuents against it, I believe they are planning on passing amnesty to ensure their continuation at the mid-terms and in 2012. Illegals can be tagged "future Democrats" if they get that through.

      America and it's principles are being hijacked. My pitchfork is cleaned and ready.

    16. Brown Derby, Iowa says:

      Small businessmen such as I are very reluctant to hire. Employees are becoming an increasingly large burden due to government regulations. Previously, you could hire for short terms and lay them off when the job was completed. Now the employee/employer relationship is a costly process that is mandated to last for many months after they are terminated for any reason. It is less onerous to marry a person than to make them an employee.

    17. Craig, Bethel, CT says:

      And when the stimulus spending ends, and it will, so do any jobs derived from the spending. These are not real long term jobs!

    18. Ron Derry NH says:

      I'm sorry but to sell the religion of Marxism one can't mention it by name one must cloak it in the wishful thinking and hopes of the masses. Everybody wants jobs, better health care and easy street paved with less work. Obama supplied that. A leader who knows how to smile, say all the things you want to hear, skips the math inequality or lack of reality in his dogma, and you get today's Democrats. This is salesmanship 101.

      If Americans would wise up to the facts that Marxism isn't a debate but a threat perhaps they would understand its evil intent. To be selling us down the river of dependency to foreign debt is a risk to our sovereignty and our well being, and Americans had better wise up to the fact it is being sold to them by people willing to defraud the American system and values we hold dear to gain political supremacy over WE THE PEOPLE.

      Ignoring the lies, blaming Bush and allowing congress to go unchallenged at the history of bad laws and bad intents that have caused us so much harm, has become a habitual delusion of America. To allow this corrupting of our national origin to be supplanted by an agenda, led by Marxisms intent to redistribute your worth to some one elses lack of desire or integrity in the work place, is corrosive to our founding principles.

      No matter how you slice it, lying and defrauding America to usher in the NEW MARXIST revolution, is our greatest threat to our security as a free people and a nation of promise. The ones doing the defrauding should be dealt with in the same severity of thought and purpose as any American would knowing they posed a threat to his House, his children and his worth.

      This is no small thing that Obama and hos cohorts are doing to America and America must get concerned or go the way of other regimes that have used their political power to subjugate the people.

      Marxism is the new religion where you skip the facts and sell the promise as you ensnare civilization under its chains and make all men servants of the state. Obama is just the beginning if we lie down and take this like slaves.

    19. Richard Cancemi, Arl says:

      Nothing but lies and more lies from the Democrat/Liberal/Progressives and their cache of hooligans. I'm still waiting to hear a 'truth' come out of Obama's mouth. He has been a master deceiver to all the twits that 'believe' in him .

      We must rid ourselves of all "Socialist/Progressives", if the USA is to survive. Obama would have us be a 'member state' of a World Union. What a liar he has been, violating his oath from the time he entered the Senate and then oathed again when he became President. He has been anything but a defender, protector and upholder of the Constitution!

    20. Ben C. Ann Arbor, MI says:

      The last sentence above is the solution to the economy. I am a small business person and I am very cautious about the future. I find it very discouraging to think that after forty years of working fifity and sixty hours a week I will have my efforts sucked up by Congress to be given to those who are "disadvantaged" because they lack a work ethic. If, however, Congress gets out of my checkbook and stops the entitlement mentality I might consider expanding my business. The abitlity to create wealth will lead us out of this recession. The redistribution of wealth will surely continue the recession and lead to inflation and other problems far worse than what we are experiencing today. One needs only to look at the lessons of history.

    21. Todd says:

      It seems to me that Obama's ideal this sort of modern day "New Deal" has fallen on its face and nobody is bothering to ask why. Is it dead, drunk or just passed out!? My guess is that nobody is bothering to ask those questions which would find out the root cause quick. Instead they (the Obama Admin.) were intent on at first pretending that it was working. Now they're fine with stepping away from it and saying silently and saying they don't know how it didn't work but let's not let everyone else know. Regardless it this will be another instance that the President gets to simply and conveniently disassociating with it. Bottom line we as Americans should demand that transparency we were promised but that would make for another convenient disassociation.

      Just A Point of View

    22. Asa Beck, Centennial says:

      Obama needs to understand that direct federal spending will not solve the employment problem. We need industry to create jobs. First however let’s get the facts straight. If we look at the important full time jobs, not seasonally adjusted, the loss of Jobs in December was 1,399,000 jobs in December. This is as reported by the Bureau of Labor Statistics at the following link. http://www.bls.gov/webapps/legacy/cpsatab6.htm Go down to full time jobs and check the box in the non-seasonally adjusted column. This is on top of the 325,000 jobs lost in November. The total full time job loss since July of 2007 is 13,334,000.

      The president should work with Congress to pass Senate Bill 1027 and House Bill 2378, the Currency Reform for Fair Trade Act of 2009. China is undervaluing its currency by 35 percent and it is leading to the de-industrialization of America. Other countries manipulate their currency as well. This 17-page bill, an earlier version of which was co-sponsored by then Senators Barack Obama and Hillary Clinton, levels the playing field as it relates to currency valuation. Make it a priority and get them passed.

    23. Marty says:

      Government-funded infrastructure is a uniquely poor way to do anything about unemployment because it pays too-high wages (due in part to Davis-Bacon) to too few people (due to the heavy use of capital equipment0. There are actually very few people directly employed on a construction site—take a look at a road or rail project some time see how few people actually are there).

      All the macro arguments about taking money away from alternative uses are also correct and are the bigger reason why this isn't appropriate, but the low jobs/$ in infrastructure is also a factor.

      What Obama et al didn't recognize (or, admit, because their agenda was not jobs but payoffs to political supporters) was that our current problem is NOT a Keynesian liquidity trap. The liquidity is there, esp after TARP and the Fed creating over $1T, the problem is people's savings were destroyed in the real estate meltdown, so anything extra they get, they save rather than spend; and business isn't borrowing because of all the economic uncertainty emanating from Washington. So the banks and money funds that get the savings just buy Treasuries, which are plentiful due to the deficit and the need to constantly refinance the national debt, and there is no multiplier effect from the govt spending.

    24. R.U.WITHMEE says:


    25. Judy, MA says:

      It's been said since Spring '09 that to create jobs, stimulate the economy & bring down the unemployment is to give tax breaks to small businesses. This has been voiced by many. People who know economics. This is for OB. If it doesn't work the first time, don't ya think you should listen and take some common sense advice and try this. Well, people he wants it to fail. He has an agenda. He is not interested in saving the U.S. He wants to destroy it. Our voices will be heard. My voice will be heard on 1/19/10 at the voting box behind the curtain. BROWN for MASSACHUSETTS SENATE.

    26. Elizabeth Cox, Washi says:

      Show me the money! The billions and billions of money spent, where is it going? For what stimulus? We really need to know this. Where is the transparency and the jobs promised? Whose pockets are being lined with taxpayer money?

    27. Blair, Franconia, NH says:

      YEAH, BRETHREN AND CISTERN! Verily, I say unto you that Obamanomics is an

      Obamination! Seriously, isn't this what we expected? I'll take the hope. Obama can keep the change.

    28. Barb, Eagle, WI says:

      Jobs??? At least we have some government funded forestry jobs available here in upper Wisconsin. Paying $15.50 per hour!! Only problem is to qualify you can't be a U.S. citizen. That area has a lot of people out of work. You'd think the government might want to offer these jobs to those unemployed citizens.

    29. Pingback: Morning Bell: $787 Billion in Stimulus, Zero Jobs “Created or Saved” » Barack Obama Latest News - Barack Obama News

    30. Ardath Blauvelt, NH says:

      Someone PLEASE tell me how much of the original $787B has been spent and where it went? How can Obama and his congress even talk about Son-of-Stimulus when these simple questions remain unanswered? Have we provided some sort of piggy bank for these people and now they just want more?

    31. Don Britt, Albany Ne says:

      Infrastructure jobs such as replacing an aging overpass, bridge, or similar structures require specialized labor talents. With the lack of such funding over the past dozen years is it any wonder why contractors are bringing in workers from other countries? While the project may be "shovel ready" it must be delayed if American workers are to be used. This is not happening. This type of approach needs to be handled like the 1950's Interstate road construction. This did use American workers but it was carried out over two dozen years and it did make a major contributation to employment.

    32. John, Edmond OK says:

      Another case of fuzzy math calculated behind those "transparent" doors of the Democratic members of congress.

    33. N.D. Smith Lakeside says:

      We all seem to know how much money was in the stimulis bill and its purpose to get the economy going again. If I recall correctly there are 330,000,000 people in the U.S. if the gvt gave every man woman and child 1,000,000.00 it would sure stimulate the econmy at a far cheaper price that the stimulis bill. The only thing the stimulis bill created was a tremendious slush fund for Obama to use as he sees fit.Homes could have been bought and paid for in cash, jobs would have been created in the private sector , cars bought etc. What a waste of tax payers dollars. But with his promise of hope and change and redistribution of wealth from working people to people with no work ethic who have been on welfare since Carter created it what would you expect. Here in Californif the state is looking at a 19 billion gap in the budget. Will the legislators think of cutting back or eliminating some of the freebies NO WAY lets raise taxes instead which is why businesses are leaving here for AZ, NV and TX and our unemploument is at approx. 16% state wide higher in some of the arming areas, which is greater than the National average. The same is true with his Health care Bill , here you have our elected representative saying they haven't even read it and look at you like your crazy for even suggesting it I mean It's 2000+ pages I'm just gonna sign it and I really don't care what it costs youor how it affects you or your employer. Obama himself has said even he doesn't know whats in it but he can hardly wait to sign it. Everyone needs health care and some people can't afford it?????

      I have seen streert people who get falling down drunk being hauled to the hospital in an ambulance, where they are cleaned up and sobered up and show up on the street to do it all over again. Who pays for the ambulance ride and ER care. The county (Taxpayers). If I need to go to the hospital by ambulance I'm charged 500.00 by the ambulance co. Who pays that bill Me. But they also say if you don't buy into a health plan private or govt. you can be fined or sent to jail for up to five years. I'd like to see that applied to the street people who don't want to work and I've seen plenty of them who were offered jobs but always said they had something else going on right now. Folks excuse the rant but I'm really tired of eople telling me how to spend my money and there are other people who need it more than me. OBTW I've worked in collection center for the last twenty four years and the voter turn out is sometimes aroung 45% so I guess you really do get the govt. you deserve. ACORN gets out the vote along with big labor and ther reap the rewards Federal $$$$$ and subsidies.

    34. robert sargent west says:

      the government spending is down right criminal.and the crime is using my beloved country and our freedom as a spring board to socialism.we can vote them out in 2010 and take away that spring board.stay mad and remember what they are doing to our country,vote the criminals out.

    35. MARK BURBEE FORT MIL says:

      A full year into hope and change and the change has only been worse. The change will come when government lets small business run its course. Lower taxes and watch change explode into the economy.

    36. david,cumming ga says:

      I said it right off when i heard it: SAVED or CREATE jobs…there would be no way to prove the word SAVED…this was and is bs,soooo how much more will we stand for, get involved people. we all read of the talk is cheap…WELL is your talk cheap or will you get involved. call your senators and reps,go to whitehouse.gov and leave your message,speak up at your church,blog on all the sites you normally go to,GET INVOLVED! in a union? tell what you think and find out what their doing about it. GET on the band wagon and let your voice be heard! As for me well i see building nuclear power plants as the solution 1 plant = 50,000 jobs…all built by Americans. Don't you get it, it's jobs created right down to the guy in the parking lot selling a cold beer after a long hard hot day of work , the mom and pop bussinesses taking in money from workers willing to spent money they have earned and buying more goods to sell again. what you thought a nuclear power plant only put a lot of construction workers to work? it's machinery,switches wire concreate steel componates wood tires oh i could go on andon IT'S JOBS FOR ALL. And then there's the grid system to transport the energy created WOW thats HUGH…copper steel aluminum rubber trees that goes on and on as well miles of it. NOW there's the subject of dependance on foreign oil…we don't need it. can't afford it, got to pull the teet away and grow up. So you say nuclear is way to costly…no it isn't… there are new designs today that speed construction and are more effientiet than ever…ok so 4 billion to one ok wall street got billions to pay out bonuses did any go in your pocket. A job created takes someone off unemployment (savings) wages paid means taxes collected (savings) taxes collected means more investment (savings) goods delivered means more goods needed and more investment in those goods that are needed means more jobs means more wages means more money flowing means greater investment means more SAVINGS. NOW supose the federal stimulas was that the government did a WPA or a NEW DEAL type of a thingy sry couldn't help the thingy word just love that word…anyway low cost loans to build the nukes and then low cost loans to buy them , the fed seems happy at loaning money at near zero percent anyway and doling out billions that will never be repaid uh hum a citi, chyseler,aig well so warren buffet out right buys a nuclear power plant after it's built at a low interest rate you know he will he needs the energy to run his next generation electric train that will be in the pipe line soon. he has the tracks …Well you can say you heard it here first build nuke and create jobs. and i hope that at the least you GET INVOLVED

    37. Robert Sarnowski says:

      I always found the term "jobs created or saved" a bit novel. Talk about double-talk and pure gibberish? Using this phrase is like saying civilized people save lives daily by NOT murdering anyone. Only a pure Chicago-type politician could come up with nonsense like this that could NEVER, EVER be validated or confirmed. The main thing is that it sounds good. Pure B.S.

    38. bigdave, ocala fl says:

      In the history of the world, name one MARXIST ADMINISTRATION that did anything POSITIVE FOR THE PEOPLE. Name one socialist group that DID NOT DESTROY OPPORTUNITY IN THEIR COUNTRY and create universal misery and despair 'cause there aint nothin they can do about it 'cause the Marxist thugs will have them arrested…coming to America very soon, a government to be feared, not by foreign enemies,but by its own people. We are there NOW! Heard of LARRY SUMMERS?! Thank Hollywood for the AMERICAN DISASTER and its NOT a movie! The REAL "unemployment rate" is OVER 20% and climbing! Do not expect these communist bast…s to tell you the truth! Government payroll has just exceeded PRIVATE SECTOR PAYROLL! The "government" HAS NO MONEY except what THEY STEAL FROM PRIVATE SECTOR WORKERS! Now exactly how long do you think we can print monopoly money before the roof caves in? HMMMM?! Exactly how long do you think this government can support you? The clock is ticking. Do not be surprised when you hear the announcement " dear Americans, the dollar is now WORTH ZERO, and it does not matter how many you have. Now please get in line for your subsistence, you will all get the same thing".

    39. bigdave, ocala fl says:

      Oh yes folks, the "stimulus bill" is quite simply STEALING yours and your children's money now to PAYOFF UNIONS(which have ruined every business they are a part of, every single one, even the TEACHERS ASSO!). Terrorist trials here? PAYOFF to TRIAL LAWYERS! This government believes the real threats are its own people once the people catch on to all the lies and empty promises which NO GOVERNMENT ANYWHERE CAN LIVE UP TO! Some democrats have caught on to the current charade and are leaving now. You will soon see a mass exodus as they may all be crooks, they are not all stupid!

    40. Pingback: Link Wednesday

    41. tammy little north says:

      you can not blame obama for all the job lost lets remember clinton was the one

      who sign the free trade agreement bill into action before obama was elected.he is the reason jobs start going over sea's to china. i think that obama could give the american people more of the stimulus money instead of the banks and stop wasting money on the war.if he dont creat jobs the people in the war will not have jobs to come back home to in amercia. the jobs that are hiring arent paying any money i work for a home care angency after being layed off my job of 15yrs as a supervisor in the shipping departmentof the mfg i worked for and the pay is 90% different.but we all need to face the fact that man cannot fix this problem only god can its just a sign of the time that is told will happen before the world ends.no jobs people cannot pay bill or feed their familys .so mr obama please do what you promise about a change is coming and focus more on job creations help the small business out there the one's who will hire people. and as for going back to school so once you finish you still can't find a good paying job i know because i've been back to school already and jobs still are not hiring people because they tell you that you have no experience or require 1 to 2 yrs exp so really school do not guarantee a good job.

    42. Ed in Ca. says:

      Obama is out to take care of the Rich and destroy the Working Class. He has a great dislike for the United States and has demonstrated that ever since he took Office. He has made promises that have been bald face lies and that is because he has not kept but one of his promises. That promise was to spread the Wealth around and he is doing just that. Taking our Wealth and giving it to his cronies like ACORN and the Rich who put him in Power.

    43. gordon Storholm says:

      when federal and state govts order , noy encourage, but order managers to lie about jobs createde or saved on an official report, there should be a criminal investigation

    44. Douglas Pocock, Wint says:

      CLOWARD & PIVEN…..CLOWARD & PIVEN…..CLOWARD & PIVEN…..CLOWARD & PIVEN…..Instead of reporting on the failure of the capitalist system under Obama, begin commenting on the success of his administration on implementing the CLOWARD & PIVEN plan.

      The Cloward–Piven strategy is a political strategy outlined by Richard Cloward and Frances Fox Piven, then both sociologists and political activists at the Columbia University School of Social Work, in a 1966 article in The Nation. The two argued that many Americans who were eligible for welfare were not receiving benefits, and that a welfare enrollment drive would create a political crisis that would force U.S. politicians, particularly the Democratic Party, to enact legislation "establishing a guaranteed national income. Implementation is right out of the Rules For Radicals by Saul Alinsky, A Pragmatic Primer for Realistic Radicals. The Obama agenda is right on target, right on the Plan….

    45. Al Reasin, Conowingo says:

      A major reason why the projects are slow to start is that any contact with stimulus money has to pay union scale wages or hire union labor. Thus I would suppose that in many states contracts have to be renegotiated or rebid; especially in right to work law states. This also means that the stimulus money will achieve less employment for the same dollar spent. A recent AP analysis shows that the unemployment in counties receiving stimulus money vs those in the same state not receiving such money is no different. When you attempt to pay off special interests there just may be unintended consequences that expose your corruption, yet this administration continues to follow the same practices; no lessons learned by this Chicago mafia.

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    47. Dan in Chicago says:

      MeThinks that the POTUS, the self proclaim Czar of Transperancy needs to clearly identfy how many jobs were created and how many jobs were save SEPARATELY.

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