Obama's Road to Recovery

I'm thinking we can let the numbers do the talking when it comes to the recreation of jobs in America post President Bush.

"One year ago tomorrow, after tens of thousands of you shared stories and called your representatives, the President signed the American Recovery and Reinvestment Act." - David Plouffe

Just for giggles maybe we should look at a few of the things that the President's plan has accomplished so far. I wouldn't call it a full recovery when the bars are still in the negative range no matter how small a number that might be. After-all, those numbers are not just numbers but actual people that have lost their jobs in the latest economic downturn aka recession.

The American Recovery and Reinvestment Act:

• Cut taxes for 95 percent of working families through the Making Work Pay tax credit
• Cut taxes for small businesses
• Provided loans to over 42,000 small businesses
• Funded over 12,500 transportation construction projects nationwide, ranging from highway construction to airport improvement projects
• Made multi-billion dollar investments in innovation, science and technology that are laying the foundation for our 21st century economy
• Provided critical relief for state governments facing record budget shortfalls, including help to prevent cuts to Medicaid and creating or saving over 300,000 education jobs

Just for another set of giggles, I emailed President Obama my resume just after his state of the union speech. I'm hoping that he just might have a job somewhere in America for me. I'm not looking for the Vice President's job but I sure as hell could use the frequent flier miles that the Secretary of State racks up.

Papamoka

***Propeller has linked in with 16 Props... Thanks!

Depression is Over

It has been officially announced by a self proclaimed Wall Street financial guru that the economic depression that the nation is suffering is "OVER". Jim Cramer of Mad Money on CNBC announced this m0rning on Morning Joe, "The Depression is over". He did clarify his point though, the recession is not over by far.

Cramer sited the automotive industry as the foundation to his claim in the fact that production was up by over 25%. That and banks like Citi Group are starting to turn around and actually make some money. In other claims, Cramer also declared that the federal reserve is doing everything right as well as the treasury. Basically, our leaders in charge of freeing the nation from the depression have taken the playbook of President Hoover and done the exact opposite.

According to Cramer, unemployment numbers will lag by about three months before they turn around and head nowhere but up. Housing starts... Ditto.

I hope Jim Cramer is right, I really, really do!

Papamoka

President Elect Obama’s First News Conference

Thankfully, President elect Barack Obama’s first news conference was not like an Emmy Award ceremony. We did not have to here all the people that he had to thank for winning the Presidency. What he did have to say was right on task for the next President of the United States. After meeting with a slew of people knowledgeable about the economy and how to fix it he entered the room confidant and determined to hit the ground running for the American people. The economy is his first priority and will be a continuous priority till our nation gets out of this weak period of time in the economic engine that is America. Matter of fact he threw the gauntlet down to George Bush to act or he will as soon as he is President in January. Check it out over at the New York Times and what Jeff Zeleny has to say…

“I do not underestimate the enormity of the task that lies ahead,” Mr. Obama said, his voice slow and controlled. “Some of the choices that we make are going to be difficult. And I have said before and I will repeat again: It is not going to be quick and it is not going to be easy for us to dig ourselves out of the hole that we are in.”

Mr. Obama called on Congress and the Bush administration to pass an economic stimulus package. If an agreement cannot be reached this month in the lame-duck Congressional session, he said, it will be his chief goal when he takes office on Jan. 20.

He said it was an “urgent priority” to extend unemployment insurance benefits for workers who could not find jobs in the bleak economy. He also said he would give aid to states, create new jobs and move forward with his tax-cut plans for middle-class families. - New York Times

Video Link



If you missed the news today, another 250,000 Americans lost their jobs in October which bumped the unemployment rate to 6.5%. The highest unemployment rate in almost twenty years. Lame duck session my ass! Congress and the current President need to act quickly to stem this crisis as soon a possible. When it comes to jobs being lost there is no such thing as a red job or a blue job. It’s an American job!

To sum up, President elect Obama has put the word out to all, you are either with us or against us when it comes to restoring the economy of America. What say you President Bush?

Papamoka