Thursday, June 3, 2010

Biden Think The Stimulus Is Working Success

Here we go again with Old Joe. Not to mention the President blaming everyone else but himself for the mistakes he's done so far and the growing uneasement we have this country and the economy.

The Hill: ”An absolute success,” Biden termed the stimulus during an interview on “Charlie Rose” to air Wednesday evening. “We will create over 3.5 million or save over 3.5 million jobs before this is over.”
Republicans, meanwhile, have criticized the spending program to have done little to aid employment, pointing to administration projections that unemployment would never exceed 8 percent if the law were enacted.

The current unemployment rate stands at 9.5 percent through the end of April, with jobless figures for the month of May set to be unveiled on Friday. Economists are projecting a spike of 550,000 jobs created last month, though that figure may be padded by temporary workers hired by the government to carry out the Census.

Biden, who got in trouble this week for saying that unemployment might not creep down to 6 percent for years, said this evening that it’s actually “unknowable” as to when enough jobs will be created to get unemployment to that level.

“The answer to that question is unknowable for three reasons,” the vice president said, pointing to the debt crisis in Europe, difficulty in measuring consumer confidence, and whether or not the U.S. economy would catch some “good breaks.”

How many trillions of dollars will those 3 million or so jobs they create cost our kids?

Speaking of the economy, President Obama continued his favorite pastime of blaming Republicans for his failings again today in Pittsburgh. House Minority Leader John Boehner responded.

“It’s clear from his harsh partisan rhetoric today that President Obama has run out of excuses for his broken promises on the economy. Instead of creating the jobs and prosperity he promised, President Obama’s ‘new foundation’ consists of more spending, more debt, more job-killing policies, and more permanent bailouts, which is really no foundation at all. The President promised his ‘stimulus’ plan would keep unemployment below eight percent and create jobs ‘immediately,’ yet the unemployment rate remains unacceptably high at 9.9 percent, millions Americans have lost their jobs since the ‘stimulus’ was enacted, and one out of 10 remain out of work.

“If the President is truly serious about helping small businesses create jobs, we should focus on reining in wasteful Washington spending instead of sinking more taxpayer dollars into ‘stimulus’ programs that have failed to live up to the Administration’s own promises. And if the President is truly serious about helping our economy and saving our kids and grandkids from even more unconscionable debt, he should call on House and Senate Democrats to offer a budget that cuts spending right now to help create jobs.

“With a national debt now at $13 trillion, Americans are demanding fiscal sanity and real leadership from Washington. Republicans have listened to the American people and offered common-sense solutions to cut spending now in order to help spur job creation and get Washington’s fiscal house in order. It’s time for the President to step up, exhibit real leadership, and call on congressional Democrats to offer a budget that reins in out-of-control spending to help create jobs and get our economy moving again.

“The President diminishes the Office of the President when he resorts to straw man arguments that willfully mischaracterize the views of others. All of the President’s talk of post-partisanship, reaching out, and finding common ground reminds us that the country deserves better than his hyper-partisan speech today.”

NOTE: Noted economist Allan Meltzer of Carnegie Mellon University, a member of Leader Boehner’s informal “kitchen cabinet” of economists, responded to President Obama’s remarks on the economy today in Pittsburgh:

“When President Obama spoke at Carnegie Mellon University today, his rhetoric was divorced from current reality. His administration and the Congress continue to increase government spending. President Obama talks about reducing spending, but he hasn’t vetoed a spending bill. Cities and states are about to go bankrupt or default on their debt, while the President mandates increased state spending for Medicaid. The reality is that the huge stimulus spending has done little to reduce unemployment. Long-term unemployment has never been higher in the past 60 years. Mr. President, it’s past time to rein in the government and put the country on a path to future prosperity so we don’t end [up] like Greece.”

Via memeorandum

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