Well, well, well. The Great One has admitted that there is "...no such thing as a shovel ready job..." and the White House admits that it may have spoken too soon. Isn't that how this whole stimulus was passed and sold to the American people?! Nearly $1 Trillion and we we're supposed to create or save (which I still don't understand - you can't count "saving a job" as a created job as they have) 3 million jobs? VP Joe Biden keeps trying to delude himself and others that it is working.
Since 02/09, we've lost over 2 million jobs and we have approx. 14 million unemployed. It's nice to see that slowly the President is admitting things haven't worked, but overall, I still think in his head, it is working and he's right on all fronts and it's just everyone else's fault.
Heck, I even wrote about this and argued with friends on how this won't work and that you can't spend your way out of debt to try and create a profit or turn around the economy. I used Japan as an example from their crash several years ago. They tried to spend their way out of it and it still hasn't worked fully. In a perfect world, we'd have honest people who tell us straight up.
Senate Republicans on Wednesday seized on President Barack Obama’s admission to The New York Times that “there’s no such thing as shovel-ready projects,” an acknowledgement they say suggests the administration’s $814 billion economic stimulus plan is a failure.
“As the trillion-dollar stimulus fails to fulfill promises, President Obama is separating himself from his own sales pitch on shovel-ready projects,” read the headline of a news release from Senate Minority Leader Mitch McConnell (R-Ky.).
And Tennessee Sen. Lamar Alexander, chairman of the Senate Republican Conference, noting the administration previously had stated the stimulus would create or save 3.5 million jobs, said the White House now admits “it might have spoken too soon.”
Read the full article on Politico's site