Friday, February 20, 2009

First Jobs From Stimulus

Robert Reich was concerned in January that jobs created from the $787 billion stimulus package should not go to white male construction workers. As it turns out, that may be a needless worry on his part because the first jobs out of the box won't even be in the private sector.

The New York Times lead-in states, "Oversight will be boom sector as Obama aims to show money is well spent". Ironically, this oversight is going to cost plenty. It spends $350 million on tracking how the money is spent. What this means is that the first wave of jobs won't be in teaching or construction, but in the form of government auditors, attorneys and investigators.

Red flags should be raising in everyone's mind and alarm bells making it hard to hear as government continues to grow while private business and enterprise shrinks. $787 billion dollars for misnomered stimulus, coupled with $75 billion for mortgage bailouts with a potential $200 billion chaser if necessary. Further, it is estimated that roughly 40% of the people targeted for help with their mortgages are likely to lose their homes eventually regardless of the aid.

If anyone needs further convincing that this administration is stumbling out of the gate on the economy, consider this; Jimmy Carter likes the stimulus debacle. Granted, many people in mortgage trouble today were not directly affected by Carter's economic mishandling, but it should be easy enough to research.

Obama is changing America, alright, and at breakneck speed. He's got a long four years ahead of him to completely decimate the country. The question is, how far will he get before congress pulls the emergency break?

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