Construction workers on the site of an infrastructure project at the junction of Interstates 490 and 77 in Cleveland, Tuesday 30 June 2009. The project is being funded by government stimulus money as part of the American Recovery and Reinvestment Act. (Greg Ruffing/Redux for TIME)
-----
OK. It appears the $787 billion stimulus package isn't as stimulating as originally hoped (and I pretty much called it).
Again:
Throwing money at a problem does not fix it.
Throwing money at a problem does not fix it.
Got it? Good.
Anyway, here's an article on life under the stimulus, from TIME:
When Congress passed the stimulus bill in February, it came as both good news and bad news to the Obama White House. The good: never before had an Administration had so much money to spend on voters in need — to rebuild public buildings, save jobs, weatherize homes and fund community health centers. The bad: rarely has the passage of a measure been accompanied by such skepticism about the government's ability to spend the money wisely or well. And ever since, public doubts about the stimulus have, if anything, deepened. The economy deteriorated faster than economists expected, with unemployment now predicted to exceed 10% next year, higher than the White House had projected in January ...
Meanwhile, if you're interested in placing blame for the financial mess we're in, here's a rogue's gallery of 25 likely suspects:
No comments:
Post a Comment