Saturday, July 11, 2009

Obama rejects 2nd stimulus: Give recovery time

As many as 650,000 workers may exhaust even their extended benefits within three months, said Maurice Emsellem, policy co- director for the National Employment Law Project, a nonprofit advocacy group headquartered in New York."

And Obama asks us to wait two years!!

Guess the Europeans got to him. Too bad he doesn't realize European countries can't stimuluate anymore because they are functionally like states within the United States. They do not issue currency and spend by crediting bank accounts.

The plan "was not designed to work in four months," Obama said. "It was designed to work over two years."

What a shame...for a guy who pledged to help Americans he is really telling us all to go suffer for another two years or more. By then it is quite possible that we will have permanently lost some level of our standard of living. Terrible, terrible, shame. All because he and his advisors don't understand our monetary system.

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