aka_human (aka_human) wrote,
aka_human
aka_human

Stimulus - wasted money, wasted future

http://news.yahoo.com/s/ap/20090904/ap_on_bi_ge/us_economy

"The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery."

"If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the so-called underemployment rate reached 16.8 percent, the highest on records dating from 1994."

"The recovery act has played a significant role in changing the trajectory of our economy, and changing the conversation in this country," Biden said. "Instead of talking about the beginning of a depression, we are talking about the end of a recession."

Republicans criticized Biden's speech. "The Democrats' rhetoric on their economic experiment doesn't match with the reality of millions of Americans remaining unemployed," said Republican Party chief Michael Steele. "The stimulus was an economic experiment that failed Americans."

Update: Unemployment rate in California - 12.1% !!!
http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&idim=state:ST060000&q=unemployment+rate+california
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