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The U.S. budget deficit topped $1 trillion for the first nine months of the fiscal year [ with interest of $320.7 billion] and broke a monthly record for June ...[of] $97 billion…
...lost 6.5 million jobs ...GD contracted at a 5.5 percent annual rate in the first quarter
And yet somebody thinks that the stimulus did its job! Still 2 million jobs have been lost since the famous stimulus package. Now the unemployment rate stands at 9.5 percent, and it’s the highest in the last 26 years.
Posted by marion rencontres on 07/14/09 at 09:25 AMHe did promise us Change. Nobody bothered to ask what kind of change.
Of course the “stimulus” didn’t work. The part of it that gave us money (money we’d sent them before in taxes) that we were supposed to use to buy stuff? If we did buy stuff, that stuff was made in China, so the end effect was to stimulate the Chinese economy.
Another part sent truckloads of money to banks - whether they wanted it or not. Part of the fine print in that deal lets them raise interest rates on credit cards, do away with grace periods, cut out all those frills like “points”, add annual service fees, ...
That part did a little to stimulate banks, but at the cost of government’s hand in the till as part owner.
Posted by ZZMike on 07/15/09 at 07:44 AM
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