The Associated Press is reporting that President Obama’s signature initiative to “stimulate” the economy has had no effect “on local unemployment rates.”
Unemployment Unchanged Regardless Of How Much Money Was Spent. “An Associated Press analysis of stimulus spending found that it didn't matter if a lot of money was spent on highways or none at all: Local unemployment rates rose and fell regardless. And the stimulus spending only barely helped the beleaguered construction industry, the analysis showed.” (Matt Apuzzo and Brett J. Blackledge, “Stimulus Cash Doesn’t Create Local Jobs,” The Associated Press, 1/12/10)
Obama and the Democrats want a second stimulus package. Doesn’t sound like a good idea to print money we don’t have if it doesn't work does it?
ThinkFY's full feed