Obama Administration Admits Stimulus NOT WORKING
NY TIMES/THE LID ^ | 5/11/09 | The Lid
Remember that Porkalus Bill? Almost $800 billion dollars went to "Shovel Ready" projects with the purpose of getting America Back to work. Yesterday Christina Romer of the Council of Economic Advisers, was interviewed on C-Span where she said the economy will begin to turn around in fourth quarter of his year and job losses will continue through the end of the year. Her comments echoed Federal Reserve chairman Ben Bernanke's similar prediction last week.
Gee, what happened to "shovel ready?" The stimulus bill was designed to put people to work right away. With their admission that unemployment will continue to grow for the rest of the year, Romer and Bernanke were telling America that the Stimulus isn't working. Then again, spending your way out of a recession never has........................