Saturday, June 20, 2009

The stimulus bill is a failure

The stimulus bill couldn't be discussed, debated, amended, delayed or reviewed (or even distributed and fully read) prior to passage, because it was an emergency measure guaranteed to keep unemployment below 8%. That was the guarantee given. That was the self proclaimed measure of success or failure.

"Florida's unemployment rate broke a psychological barrier in May, entering double digits for the first time in 34 years. Although Florida's economy could start to grow again early next year, experts say unemployment could stay near current levels for up to two years. Employers typically remain cautious about adding workers until they are sure things are really better. At 10.2 percent, the state's May jobless rate was up from April's revised 9.7 percent, and was higher than the national rate of 9.4 percent."

Now, we're supposed to blindly trust that the architects of this plan can reform and revive the auto, financial and health sectors of the economy.

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