Tuesday, July 7, 2009

Progress or broken promise?

(CNNMoney.com) -- Nearly five months after President Obama signed the American Recovery and Reinvestment Act (ARRA), a still-worsening economy has many wondering if stimulus is a bunch of baloney.

In February, the stimulus bill was passed with the promise that funds would be paid out quickly to save or create 750,000 jobs by early August. Without it, the Obama administration said, unemployment could rise to 9% in 2010.

With August quickly approaching, $56.3 billion, or 10% of stimulus funds have been paid out, and the unemployment rate has already risen to 9.5%.

As a result, there's debate about whether stimulus has put the economy on a path to recovery or is merely a broken promise...

[A: Neither. These 'stimuli' have nothing to do with helping the economy and everything to do with expanding the power of government. Remember all the 'strings' and government requirements that the press briefly reported on when some Governors where refusing the funds on that basis?

Well, the strings are still in there...]


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