Thread: Where's all the stimulating we were promised?

WASHINGTON (AP) -- Unemployment likely will remain high for the next several years because the economic recovery won't be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.



The cautionary note struck by the presidents of regional Fed banks in San Francisco and Atlanta were the first public remarks of Fed officials since the government reported last week that the nation's jobless rate bolted to 10.2 percent in October. It marked only the second time in the post-World War II period that the rate surpassed 10 percent.



In separate speeches, Janet Yellen, president of the Federal Reserve Bank of San Francisco, and Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, warned that rising unemployment could crimp consumers, restraining the recovery. Consumer spending accounts for about 70 percent of economic activity.



"With such a slow rebound, unemployment could well stay high for several years to come," Yellen said. "In other words, our recovery is likely to feel like something well short of good times."

http://www.manufacturing.net/News-Fe...bs-111009.aspx



The biggest government spending program in history, and it is doing nothing but keeping government employees employed and on top of it now the huge tax increases being proposed under the health care schemes.



What idiocy.

It was and is a lie. They are doing nothing but supporting the oligarchs in their conquest of America.

[quote name='Gypsy' date='11 November 2009 - 09:18 AM' timestamp='1257952731' post='57149']

In my county we are using the money to shore up the dams and levees, repairing the floodwall that protects the city when it floods, replace a couple of major bridges, resurface some roads in desperate need, remodeling a federal bldg to be more energy efficient, doing repairs on schools, reoutfitting the school buses with safety features, upgrading the public transportation system and several smaller projects.



The projects have not only saved jobs but have created new jobs. The major projects like the dams and bridges are long term projects that will keep people employed for a long time. Replacing just one of the bridges opened up land that will be home two new companies that will employee over 1500 workers. That's major for this area.



The money is just starting to come down the pipeline because companies have to bid on the projects and that takes time. You can't expect immediate results. It's unrealistic. A bandaid isn't the answer. Producing long term projects that provide long term employment and adding new employment opportunities is the answer.

[/quote]





What country and what is the evidence to support this?

[quote name='jacksbrat' date='11 November 2009 - 10:20 PM' timestamp='1257999607' post='57628']

Yea, Right!!!! Those union members just love all those Mexicans comming in their plants undercuting the wages and taking their jobs.[/quote]



Because the union priced themselves out of the market, one which the leftest allow and encourage illegal workers to infiltrate?

I also noticed how Obama shut down all the American car compqanies so all those workers would depend on him for a pay check. Man...you're so far out in right field you'll never see any fly balls come your way.

The unions are shutting them down and the jobs are moving to the South where other Americans are getting them and the cars they make actually sell.

[quote name='Gypsy' date='11 November 2009 - 11:08 PM' timestamp='1258002499' post='57683']

It's the county I live in. I'll send you the link to check out the evidence. I'll explain why in the PM

[/quote]





Sorry, wrong glass and notebook screen don't go well together.