1) A measly $85 billion, when the output gap is $2 trillion.
2) Extends unemployment benefits, very good, but only until May.
3) Provides more worthless tax credits to employers to hire workers, when the problem remains demand.
It’s discouraging that our national leaders, on a bipartisan basis, aren’t serious about addressing the US economy or unemployment.
Unemployment is likely to remain above 9% for the rest of Obama’s term.
There needs to be trillions spent on a jobs program, aid to the states, and the extension of unemployment benefits, but what we get are very small packages with items that produce very little bang for the buck.
The Fed’s given up altogether, preferring to wallow in the non-existent fantasy of inflation.
Health care reform, which will address the biggest driver of deficit spending, needs to be passed right away, but good luck with that!
Gorilla’s verdict: “An abdication of responsibility and cowardice is nothing new in American politics!”
