This is only one of several stories suggesting that the economy may have "bottomed out," that
the recovery may have started, that we've seen the worst, and so forth. Even President Obama is proclaiming that "we have stepped away from the precipice," while cautioning that "many more months remain" until we're out of the recession. Obama said, "As far as I'm concerned, we will not have a recovery as long as we
keep losing jobs. And I won't rest until every
American who wants a job can find one." Zero percent unemployment? Sure.
According to The Hill, Obama proclaimed that the improved GDP numbers released Friday prove that the $787-billion stimulus package has worked.
Which leads to a couple of questions:
1. If it has worked, then why go any further? Does this mean that the
administration now will end its talk of another stimulus package?
No one seems to know how much of the stimulus package already has been
spent. A few weeks ago, it was said about six or seven percent of the
money has actually been spent. If that's all, and we're seeing the
economy improving already, wouldn't it be a good idea to take a break
for a while and see if we need to spend the rest of it?
amounts of the stimulus money aren't scheduled to be spend a year or
even years from now. Stimulus money for things like high-speed rail
have had no impact on the economy, because those billions have not been
So, can we possibly spare future generations the burden
of the massive debt that we're laying on them, at least until we see
that what we've already spent is sufficient?
asking? President Barach Obama, House Speaker Nancy Pelosi and the rest
of the Democrats are so determined to spend the country into oblivion
that it's a question that they won't even entertain.