Friday, March 06, 2009

Unemployment at 8.1%: Some Say Stimulus Has Failed

It seems that things need to get worse before they get better. It seems that some people are damning the stimulus already:

“The magnitude of what is happening now is overwhelming what steps the Obama administration has already taken,” said Chris Rupkey, chief economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “The situation is much worse now than when they began” considering stimulus efforts, he said.

Yup, I could tell from the start that Congress didn't look at each bit of that stimulus bill and say "how many jobs will this bit save." Instead they just shoved in a bunch of crap and thought +$13 more per paycheck for 95% of Americans will somehow create or save 3-4 million jobs. I guess it is time to get ready for Stimulus 2: Electric Boogaloo.

No comments: