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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Mary Cluney who wrote (139879)	6/28/2010 4:02:53 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 542004

Mary; How do you that if it wasn't for the stimulus instead of 10% unemployment that we have 12% or more oh no I think initially it would be. That the inefficiencies MUST be flushed out before any meaningful recovery can take place. So we let the flushing occur and the more efficient among us - be they be corporate or individuals - pick up the pieces and let capitalism function. Those that argue the only way to fix stuff is through government spending really are saying they are willing to turn their back on capitalism. Capitalism a failure?

To: Mary Cluney who wrote (139879)	6/28/2010 4:05:37 PM
From: Paul Smith	Respond to of 542004

if it wasn't for the stimulus instead of 10% unemployment that we have 12% or more. Well,the Obama administration has not been very good at predicting the unemployment rate with and without the massive stimulus that Congress passed. ----------------------------- "Experts agree that if nothing is done, the unemployment rate could reach double digits," Mr. Obama said in a January 24 (2009)radio address. "If we do not act boldly and swiftly, a bad situation could become dramatically worse." The same month, his economic advisors released a report saying that, without the stimulus, unemployment would hit around 8.5 percent by April 2009, and 7.8 percent with it. We know what happened next: a Democratic Congress quickly approved the legislation. But what may not be as obvious is that even with the stimulus, current unemployment is far worse than the Obama administration had predicted cbsnews.com