Barack Obama Admits That “By Design” You Remain Unemployed

[red states rule]

Is anyone surprised by this? It was common knowledge Dems were keeping most of the slush fund stimulus money in reserve, and were going to spend the money in an election year

But I am surprised Obama would actually admit he kept people out of work for political reasons





Many of us have been saying it for a while. The White House intended that the stimulus money, which the White House intended to use to save or create jobs, would not really be spent in 2009 as unemployment soared to over 10%.

On page 9 of Obama’s budget proposal, we find that, in fact, the White House is now admitting this fact. You are still unemployed by government design.

Barack Obama writes,

All told, as of the end of November 2009, about 50 percent of Recovery Act funds—or $395 billion—has been either obligated or is providing assistance directly to Americans in the form of tax relief. By design, the bulk of the remaining 50 percent of Recovery Act funds will be deployed in the coming months of 2010 and during the beginning of 2011 to support additional job creation when our economy continues to need a boost. Many of the programs slated to receive additional funding in the near future are those with significant promise of job creation. These include more than $7 billion in broadband expansion, approximately $8 billion in funds to lay the foundation for a high-speed rail network, and continued funding for other transportation projects. All told, the Recovery Act is on track to meet the goal of disbursing 70 percent of its funds in the first 18 months of its life.

(Budget at p.9)

So wait? Even after 18 months all the money won’t be spent?

http://www.redstate.com/erick/2010/02/02/barack-obama-admits-that-by-design-you-remain-unemployed/

[Kathianne]

No surprise for anyone that was paying attention. It was clear from the onset.

[red states rule]

No surprise for anyone that was paying attention. It was clear from the onset.

I am surprised, by unintentional design, the spending plan for the slush fund stimulus will cause elected Dems to lose their jobs

But Obama's admission shows how he views the unemployed - nothing but political pawns to be played when needed for political gain

[Kathianne]

I am surprised, by unintentional design, the spending plan for the slush fund stimulus will cause elected Dems to lose their jobs

But Obama's admission shows how he views the unemployed - nothing but political pawns to be played when needed for political gain

I think they could have gotten away with this, who knows? they might. Problem for them was the healthcare plan and the 'in your face' spending. If they'd just pretended to listen, things might be very different today. Instead they told the Republicans to 'sit down, shut up. We won.' Then came the tea parties...

[red states rule]

I think they could have gotten away with this, who knows? they might. Problem for them was the healthcare plan and the 'in your face' spending. If they'd just pretended to listen, things might be very different today. Instead they told the Republicans to 'sit down, shut up. We won.' Then came the tea parties...

Well they may have gooten away with it, but the job losses are mounting. I found this artilce this morning

Will the Obama PR staff in the liberal media cover this - or ignore it?




U.S. job losses accelerate

WASHINGTON (Reuters) - U.S. employers slashed 598,000 jobs in January, the biggest monthly loss in 34 years, and the jobless rate soared to a 16-year peak, putting pressure on lawmakers to act quickly to counter a deepening recession.

"The economy is just falling into oblivion and it will get worse," said Greg Salvaggio, vice president for trading at Tempus Consulting in Washington.

The latest bad economic news, contained in a report from the Labor Department on Friday, came as the Senate was aiming for a night-time vote on a package of measures to spur the economy that could cost $780 billion or more.

President Barack Obama said it was "inexcusable and irresponsible for any of us to get bogged down in distraction and delay or politics as usual while millions of Americans are being put out of work." But Republican leaders sought to trim back the package for fear of driving up U.S. budget deficits.

Last month's job cuts were the most severe since December 1974, while the unemployment rate hit 7.6 percent, its highest level since September 1992. The jobless rate, which stood at a low 4.9 percent a year ago, has jumped a full percentage point over just the last three months.

A separate report from the Federal Reserve showed consumers reduced credit use for a third straight month in December, a sign of spending caution as jobs disappear.

Consumer credit use contracted by $6.6 billion in December after falling $11.04 billion in November, the largest monthly drop since records were started in 1943.

http://www.reuters.com/article/idUSTRE5153B720090206

[Kathianne]

Well they may have gooten away with it, but the job losses are mounting. I found this artilce this morning

Will the Obama PR staff in the liberal media cover this - or ignore it?

It's going to get a lot worse:

http://www.bloomberg.com/apps/news?pid=20601103&sid=av16pDNNrMig


U.K., U.S. Top Aaa Ratings Tested by Debt Burdens, Moody’s Says
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By Matthew Brown

Dec. 8 (Bloomberg) -- Moody’s Investors Service said the top debt ratings on the U.S. and the U.K. may “test the Aaa boundaries” because public finances are worsening in the wake of the global financial crisis.

“The deterioration has been pretty severe,” said Pierre Cailleteau, managing director of sovereign risk at Moody’s, in a Bloomberg Television interview in London. “We expect a pretty strong policy response in the next couple of years in order to keep the debt in the Aaa range. We expect them to bend but not to break.”

The U.S. and U.K. have “resilient” Aaa ratings, as opposed to the “resistant” top ratings of Canada, Germany and France, Moody’s analysts led by Cailleteau said in a report today. None of the top-rated countries is “vulnerable,” or have public finances that are “stretched beyond the point of ‘no return’ to the Aaa category,” New York-based Moody’s said.

The U.S.’s debt burden will climb to 97.5 percent of gross domestic product next year from 87.4 percent, the Organization for Economic Cooperation and Development forecast in June. National debt in the U.S. climbed to $7.17 trillion in November. The U.K.’s public debt will swell to 89.3 percent of the economy in 2010 from 75.3 percent this year, according to the OECD.

“There has been a huge increase in debt-to-gross-domestic- product ratios as a result of the crisis,” said David Keeble, head of fixed-income strategy in London at Calyon, the investment-banking unit of Credit Agricole SA. “It’s right that there should be a lot of attention and pressure on these numbers.”...

[red states rule]

The Obama supporters and the liberal media will scream in unison

"IT'S BUSH'S FAULT!!!!!!!!!!!!!"