$787 Billion was promised to be quickly infused into the country to save jobs and ‘turn the economy around’.
The Recession is Over!
$98 Billion has been paid out by the Federal Government – 12% in 200 days.
That is $490 Million per day.
At this rate, it will take 1,606 days to spend the stimulus or nearly 4.5 years.
The average recession lasts, all on it’s own without outside influence, 18 months.
(Right or Wrong,) The Federal Reserve Chairman and other ‘experts’ are saying while recovery will take some time, the recession is essentially over (making this particular recession, 20-22 months long).
Why are we burdening generations of Americans for something so unnecessary and unproven? No wonder American’s across the country have been saying ‘Enough is Enough!’. Perhaps we should bailout the newspapers next?
Nope, it was a five year plan. And most economists agree that it is helping.
http://online.wsj.com/article/SB125185379218478087.html
Hardly ‘most’. It will be years before ‘help’ can be defined.
Americans were sold by politicians (including President Obama) that if there was no stimulus, the unemployment rate would go above 9%. No one can argue that the government spending money will not effect GDP. However, is the cost worth it? And is it sustainable and real growth?
[edit] Now, if you are talking about the $200B in tax cuts – I would agree with you, but that is not what you were talking about, I am assuming…
Boy, the WSJ will hire anyone since being bought out by Rupert Murdock. The author of that article is Deborah Solomon, who’s education consists of a bachelor’s degree in art and a master’s in journalism. She worked as an art critic for a while and then suddenly became an economics expert! It’s a miracle! It must have been a gift from God!
Interesting that you decided to attack the article rather than the content.
Actually I was attacking the WSJ. That used to be a good paper.
Jason’s point is that your attack on the writer (or the publisher) has absolutely nothing to do with the *content* of the article, and is thus meaningless in a discussion of that content.
Attacking the messenger does not change the validity of the message.