forecasts used to sell stimulus overly optimistic


President Barack Obama promised to ramp up the spending from the $787 billion stimulus fund and create or save 600,000 jobs by the end of the summer. This is not anything we did not know and everyone expected the stimulus spending to stat flowing this summer. The big news is for the first time President Obama is facing souring public opinion over his handling of the economy. The disapproval rating on the economy has risen from 30 percent in February to 42 percent today. Here is the president pretending he is jump-starting the recovery when it was something federal agencies were already planning to do anyway. This was also the first time; the administration admitted the economic forecasts it used to sell the stimulus were overly optimistic. When the plan was proposed by the White House they projected unemployment would be around eight percent, we are at 9.4, the highest in over 25 years. This of course has not changed the messiah type recognition the New York Times and MSNBC have used to cover the White House. This will still be President Obama cleaning up the President Bush mess.

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National Debt 6/5/1999    5,605,818,000,792.65
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