While the promoting the stimulus plan the Obama administration promised it would create 2.5 million jobs by the end of 2010. Later the Obama administration revised the number to 4 million new jobs. This makes the target number 138.6 million employed if the plan performs as advertised.
In August another 216,000 jobs were lost , lowering total U.S. employment to 131.2 million. We are still going the wrong direction leading most to beleve the stimulus is not working.
Unemployment is now at 9.7% and threatening to continue its’ climb. What happened to those shovel ready projects that were going to put [eople to work right away. Even more concerning is if the administration is successful in its’ efforts to put through Tax and Cap, Health Care Reform and tax increases more jobs will be lost.
It is time for a new plan. Since all the money has not been spent and the results are so poor, maybe it is time to return the unspent money to the Treasury, pay down the debt and try something different.
Maybe we should consider business tax cuts and tax credits for capital investment. No good will come from more government regulation and involvement in the markets.
Here are some other stats:
National Tracking: Economy
|Rate Economy – Poor||56%|
|Economy Getting Worse||44%|
|RR Employment Index||63.9|
|Worried about Losing Job||29%|
|The US is on the Wrong Track||63%|