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Cantilever

Only 11% of stim money sent out?

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If this article is right, only 11% of the stim oney has been sent out. But they say another 70% will be out by the end of the fiscal year...

 

Also says it will create/save over 600k jobs...

 

Were they waiting to see unemployment numbers take the first big drop before coming out with this info?

 

June 8 (Bloomberg) -- President Barack Obama, trying to bolster an economy he says still has a “long way to go,” announced 10 projects aimed at creating or saving more than 600,000 jobs, according to the administration.

 

The plans are meant to boost the effectiveness of a $787 billion stimulus measure sought by Obama and approved by Congress in February. The projects will be a key focus of recovery efforts during the next three months and create or save four times more jobs than during the first 100 days since the rescue bill became law, according to a White House news release.

 

“We have a long way to go on our road to recovery but we are going the right way,” Obama said in a statement. “Our measure of progress is the progress the American people see in their own lives. And until that progress is steady and solid; we’re going to keep moving forward.

 

The new projects are being framed as the beginning of a “summer of accelerated Recovery Act activity” by the administration and include new services at health centers in 50 states, work on 107 national parks, improvements at airports, highway locations and veterans’ medical facilities. They will also provide funding for schools to hire more teachers.

 

White House officials said yesterday they are encouraged by a slowing rate of job losses. The economy lost 345,000 jobs last month, fewer than expected and the lowest number since September, the Department of Labor reported June 5.

 

Rising Unemployment

 

Still, unemployment rose to 9.4 percent, higher than the 8 percent the administration projected when it pressed Congress to enact the American Recovery and Reinvestment Act.

 

“Hopefully, that is a sign that this is turning,” David Axelrod, senior adviser to Obama, told CNN yesterday. “While it’s going to take some time for these unemployment numbers to turn around, for the momentum to completely stop and turn in the other direction, it feels as if we’re moving.”

 

Vice President Joe Biden, who later today will formally present Obama with the administration’s latest economic stimulus goals, said a “good foundation” was laid in the first 100 days of the Recovery Act.

 

“We plan to build on that foundation and accelerate our efforts so we can accomplish even more,” Biden said in a statement. “We’re going to get more dollars out the door, more shovels into the ground and more money into the pockets of workers and families who need it most.”

 

Committing Funds

 

In the three months after the Democratic-led Congress approved Obama’s stimulus plan, the government doled out about 11 percent of the emergency stimulus funds, according to a progress report released by Biden’s office on May 13.

 

The administration says it will commit about 70 percent of the money by the end of the next fiscal year, less than the 75 percent that White House officials projected in February.

 

Biden, citing “significant progress,” stressed in the May report that most programs and projects were running ahead of schedule and under budget.

 

The act resulted in 150,000 jobs being created or saved in the first three months, the assessment said.

 

The 10 new projects to be financed with stimulus funds include hiring or retaining about 5,000 law enforcement officers, starting 200 new waste and water systems in rural areas, creating 125,000 summer jobs for young people and initiating 2,300 construction and rehabilitation projects at military facilities across the nation, the administration said.

 

“We will not grow complacent or rest,” Obama said. “Surely and steadily, we will turn this economy around.”

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If they are going to spend that much between now and Oct 1 (fed's fiscal year ), there is going to be a LOT of wasted money.

 

The fed should start with a zero budget and spend only what they need to spend, then use whatever extra savings they generated to extend unemploymenyt benefits, and then lower taxes/ offer low interest loans to small business to encourageemployment.

 

But that would be one way

 

or they can spend close to a trillion in 4 months, that's another way

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I have heard rumblings of a second stim package..

 

and be clear that many of the jobs created through stim, initially anyway, will be made up of subsidized youth summer jobs and the short term jobs created to run these programs...

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Obama is not going to save anything. Saving 600k jobs? He will count the GM jobs, Union jobs and everything else, when in fact the job loss is climbing and doesn't look like it will slow down till 2011.

 

As for the spending, he is fiscally irresponsible, period the end. Please stop pasting this stuff because the money will get spent on nothing and after he spends it nothing will come out of it, that is good.

 

What jobs were created besides the Czars? I am watching people left and right get canned here in NYC.

 

Please show me where these jobs are because the company I belong to now just sold and I have a job till the end of the month and I will be let go along with 100+ people.

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View PostIf this article is right, only 11% of the stim oney has been sent out. But they say another 70% will be out by the end of the fiscal year...

 

Also says it will create/save over 600k jobs...

 

Were they waiting to see unemployment numbers take the first big drop before coming out with this info?

 

http://money.cnn.com/2009/01/10/news/obama_jobs.reut/

 

WASHINGTON (Reuters) -- President-elect Obama said Saturday an analysis of his stimulus proposals shows that between 3 million and 4 million U.S. jobs could be saved or created by 2010, nearly 90% of them in the private sector.

 

So let's see, the rest of the stimulus money will create or save 600k jobs, but back in January, 3 to 4 million jobs will be saved or created.

 

So I guess 2.4 to 3.4 million jobs were saved or created so far by the stimulus plan?

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Im thinking this report was specifically waiting for a big decrease in new unemployment claims. Probably going to try and say (if the trend continues) that the 70% goin in right now is whats causing the new unemployment claims to go down...

 

Seems planned and political and possibly not based on economics.

 

I guess we will see what the next few months bring in unemployment numbers...

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So a 150 billion in gov hands 'saves' 650,000 jobs. Money far better spent if it stayed in private hands.

 

Next up free health care and green energy (don't ask about cost please)

 

a billion seconds ago? 31 years.

 

A trillion seconds ago?

 

 

310 centuries

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View PostI wish they would stop using the term SAVE jobs, theres NO way for them or ANYONE to figure out if jobs were SAVED or not

 

lots of federal jobs were saved, unfortunately.

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Hey Canty,

 

I have a piece of the Brooklyn Bridge I'll sell you.

 

If you believe the 600K more jobs you are foolish and much too trusting.

 

Some handler inthe white house threw out a number that doesn't mean crapolla. It iwll never happen. He was just reacting to the fact that 70% of the stimi loot has not been paid out and will not be paid out for 3 to 5 years on some of hte projects they funded with that boon doggle.

 

There ar 600K out of work. And that doesn't count the professional welfare folks. They are already enscounced in federally support programs for the 300% illeritate.

 

If the economy turned around today it would take 3 years at least to stand up and re train 600K newly unemployed.

 

Unless of course the rumors for a Internal Security Force larger than the Armed Forces are true.

 

The last two nations whe had internal security forces were the Soviet Union and Nazi Germany. The KGB and the German SA and SS. North Korea and China also have Internal Security forces.

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View PostSo a 150 billion in gov hands 'saves' 650,000 jobs. Money far better spent if it stayed in private hands.

 

Next up free health care and green energy (don't ask about cost please)

 

a billion seconds ago? 31 years.

 

A trillion seconds ago?

 

 

310 centuries

 

too bad they won't say how many jobs will be lost because of the stimulus.

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View PostHey Canty,

 

 

I have a piece of the Brooklyn Bridge I'll sell you.

 

 

If you believe the 600K more jobs you are foolish and much too trusting.

 

 

Some handler inthe white house threw out a number that doesn't mean crapolla. It iwll never happen. He was just reacting to the fact that 70% of the stimi loot has not been paid out and will not be paid out for 3 to 5 years on some of hte projects they funded with that boon doggle.

 

 

There ar 600K out of work. And that doesn't count the professional welfare folks. They are already enscounced in federally support programs for the 300% illeritate.

 

 

If the economy turned around today it would take 3 years at least to stand up and re train 600K newly unemployed.

 

 

Unless of course the rumors for a Internal Security Force larger than the Armed Forces are true.

 

 

The last two nations whe had internal security forces were the Soviet Union and Nazi Germany. The KGB and the German SA and SS. North Korea and China also have Internal Security forces.

 

First off I dont believe anything, especially since you cant prove saved jobs.

 

 

Second, 3 years to retrain 600k unemployed workers? Do you think all of the people getting laid off have no skills? Most are from the labor force, meaning they most likely are skilled in a trade. It takes zero time to train those guys, all thats needed is a job site for them to go to...

 

 

If we can lose 600k in one month I think we could gain 600k in a few months. I am just not too sure the plans in place will allow that to happen..

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I have been searching for a new career since September 2008. Of all of the positions I have interviewed for one ONE was a new position created from growth in the company.

 

This is all smoke and mirrors. there is NO way the govt can "create" or save jobs and the only thing getting stimulus $$ are the bureaucrats.

 

v.

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