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Stimulus package

The Associate Press reported on Lawrence Summers’, President Obama’s top economic adviser, comments on the recovery saying “the U.S. is experiencing an economic recovery on paper but a “human recession” because of job losses.  Summers added the following, again from the AP:

“What is disturbing is the level of unemployment,” he said, with one in five men between the ages of 25 and 54 not working.

“What we’re seeing in the United States, and perhaps in some other places, is a statistical recovery and a human recession,” Summers said. [more…]

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Analysis: Surge In Spending On Roads, Bridges Only Barely Helped Construction Industry

WASHINGTON — A federal spending surge of more than $20 billion for roads and bridges in President Barack Obama’s first stimulus has had no effect on local unemployment rates, raising questions about his argument for billions more to address an “urgent need to accelerate job growth.” An Associated Press analysis of stimulus spending found that it didn’t matter if a lot of money was spent on highways or none at all: Local unemployment rates rose and fell regardless. And the stimulus spending only barely helped the beleaguered construction industry, the analysis showed.

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My Analysis: Nothing in the Obama’s stimulus package has helped me; I’m still unemployed!

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