Wednesday, June 10, 2009

Stimulus Reduced: 600,000 Jobs Save 600,000 Jobs That Eliminate New 600,000 Jobs and additional 600,000 Jobs

President Obama outlined hundreds of public works projects that will begin this summer, paid for by the $787 billion stimulus bill. The projects will create 600,000 jobs. The new jobs will save 600,000 temporary jobs that will eliminate the original 600,000 jobs as well as 600,000 jobs previously not slated for elimination.

Only a fraction of the stimulus has been spent thus far. The programs will have an anti-stimulus effect on the $787 billion stimulus package resulting in less stimulus money available.

Republicans support the bill, yet complain that it does not reduce the stimulus package enough.

Unemployment is at 9.4 percent, a level not seen since Ronald Reagan became employed in 1980.

Although unemployment rose less than expected last month, the public still does not know what it means.

Obama acknowledged that "we're still in the middle of two extremes. If we move in one direction, we're not in the middle. If one of the extremes moves toward or away from us, again, we're not in the middle. If both ends of the spectrum move the same distance in the same direction, we're in the middle."

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