By John W. Lillpop
Despite the fact that nearly one trillion dollars of taxpayer money have been spent to "stimulate" the economy, America's recession continues to worsen.
To quote VP Joe Biden, the problem can be summarized in one three letter word: Jobs!
As reported, in part, at the New York Times:
http://www.nytimes.com/2009/07/03/business/economy/03jobs.html?_r=1
"The American economy lost 467,000 more jobs in June, and the unemployment rate edged up to 9.5 percent in a sobering indication that the longest recession since the 1930s had yet to release its hold.
“The numbers are indicative of a continued, very severe recession,” said Stuart G. Hoffman, chief economist at PNC Financial Services in Pittsburgh. “There’s nothing in here to show that the economy and the market are pulling out of the grip of recession.”
"The Labor Department’s monthly snapshot of employment, released Thursday, challenged visions of a recovery already taking root. The numbers intensify pressure on the Obama administration to show returns on programs aimed at improving national fortunes — not least its $787 billion stimulus plan."
"Some economists are now calling for another dose of government spending to stimulate the economy, though the White House maintains that enough money is in the pipeline already.
“Not all the recovery money has been put to work yet,” said the labor secretary, Hilda L. Solis. “We’re making progress.”
"But Ms. Solis acknowledged that joblessness was already much worse than the administration projected in January when it created its stimulus spending bill, suggesting then that joblessness would peak at about 8 percent."
The bottom line is that wild, uncontrolled spending by the administration and Democrats in Congress is not working and is, in fact, ruining what is left of the fragile economy.
Unfortunately, spending money is the only thing liberals know hot to do which means that, in all probability, yet another "stimulus" orgy is being considered by people who really do not have a clue.
During the 2008 primaries, Hillary Clinton caused a great deal of consternation among Obama supporters when she sarcastically asked, "What achievement?" in challenging Obama's record in politics and life in general.
Six months into Obama's presidency, Hillary's question is still valid and the answer remains, "There are none."
Unless you consider neutering the national defense, bowing before foreign kings, aiding and abetting terrorists, running up massive debt and otherwise destroying the economy, and betraying America and Americans while speaking on foreign soil to be "achievements."
If complete and total failure is an achievement, Barack Obama is a huge success.
For those of us who love America and want it back, President Obama is stuck in a quagmire of soaring deficits and unemployment.
Obama should do the honorable thing and resign while there still is an America!
