But of course, is that not what Democrats always do? When a problem arises, they throw more money at a problem and exert more Governmental Control over it; thinking that will fix it?
Anyhow, here is the story; The Voice of America reports:
The White House says America’s employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.
U.S. unemployment jumped a half percent in May, to 9.4 percent prompting this comment by Austan Goolsbee, a member of President Barack Obama’s Council of Economic Advisors:
“The economy clearly has gotten substantially worse from the initial predictions that were being made, not just by the White House, but by all of the private sector,” said Austan Goolsbee.
Economists point out that the current jobless rate is already higher than the hypothetical rate that was used to calculate the health of banks and other financial institutions in so-called “stress tests” earlier this year. And, the upward unemployment trajectory is expected to continue in coming months, even if the overall economy begins to recover.
But never fear your Government is on the case! They are going to do, what Government has always done; especially Liberal Governments. They going to throw money at the problem! Woo Hoo! 🙄
The Barack Obama Apologist, Politico reports:
President Barack Obama is announcing Monday that he is ramping up stimulus spending exponentially in the next three months, allowing the administration to “save or create” 600,00 jobs — four times as many as during the first 100 days since he signed the bill.
The spending plans include National Parks, summer youth jobs, veterans’ medical centers, police and teachers.
Obama will make the announcement during a late-morning Cabinet meeting, when Vice President Joe Biden will present a Roadmap to Recovery, which the White House calls “an Administration-wide effort to accelerate implementation of the American Recovery and Reinvestment Act in its second 100 days.”
“As a result of this accelerated pace of activity, over 600,000 jobs are expected to be created or saved by the Recovery Act in the second 100 days,” compared with roughly 150,000 in the first 100 days, the White House said.
While the administration is sensitive to criticism that stimulus spending has been too slow, a new Gallup Poll shows danger in the other direction. For the first time, a majority of respondents disapprove of Obama on the issue of “controlling federal spending” (51 percent to 45 percent), compared to the 67 percent who view him favorably overall.
Here’s what the “Magic One” is going to do with all that money:
- Enable 1,129 Health Centers in 50 States and 8 Territories to Provide Expanded Service to Approximately 300,000 Patients – Department of Health and Human Services
- Begin Work on 107 National Parks – Department of the Interior
- Begin Work on Rehabilitation and Improvement Projects at 98 Airports and Over 1,500 Highway Locations throughout the Country – Department of Transportation
- Fund 135,000 Education Jobs Including Teachers, Principals and Support Staff – Department of Education
- Begin Improvements at 90 Veterans Medical Centers across 38 States – Department of Veterans Affairs
- Hire or Keep on the Job Approximately 5,000 Law Enforcement Officers – Department of Justice
- Start 200 New Waste and Water Systems in Rural America – United States Department of Agriculture
- Begin or Accelerate Cleanup Work at 20 Superfund Sites from the National Priority List – Environmental Protection Agency
- Create 125,000 Summer Youth Jobs – Department of Labor
- Initiate 2,300 Construction and Rehabilitation Projects at 359 Military Facilities across the Nation – Department of Defense
Here’s the problem; The President or more specifically our wonderful Government is going do all these wonderful things with money that we don’t even have; because we are barrowing it all from China. After all, did not the President say that we are broke? Yes, he did!
Quotable Quote:
In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”
C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.
SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.
So we’ve got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it’s putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.
So, one option is just to do nothing. We say, well, it’s too expensive for us to make some short-term investments in health care. We can’t afford it. We’ve got this big deficit. Let’s just keep the health care system that we’ve got now.
Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything…
But yet, we are going to throw more money at the jobless problem. But we’re broke? Does anyone else see the problem with this picture?