Now Mr. Obama want's to throw more money at the problem. Even though it did nothing the first time around. AP is now reporting that,
Obama wants a second stimulus bill from Congress that relies in part on more road and bridge spending, projects the president said are "at the heart of our effort to accelerate job growth."What I'd like to know is this "stimulus package" meant to keep unemployment under 15%? If so, the U6 measure hit 17.3% last month. That the broader measure that includes those who have given up actually looking for a job, which "normal" government counts don't include. Therefore, what is the aim of this. It's already been shown that this sort of spending won't impact the economy at all. If $800 billion dollars won't do it...what will $150 billion do? Yet more money our great grand children to pay back. I hope they still love us when the bills come due.
Construction spending would be a key part of the Jobs for Main Street Act, a $75 billion second stimulus to revive the nation's lethargic unemployment rate and improve the dismal job market for construction workers. The House approved the bill 217-212 last month after House Speaker Nancy Pelosi, D-Calif., worked the floor for an hour; the Senate is expected to consider it later in January.
AP's analysis, which was reviewed by independent economists at five universities, showed that strategy hasn't affected unemployment rates so far. And there's concern it won't work the second time. For its analysis, the AP examined the effects of road and bridge spending in communities on local unemployment; it did not try to measure results of the broader aid that also was in the first stimulus like tax cuts, unemployment benefits or money for states.
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