The Bottom Line on More Stimulus Coming?
Monday, August 08, 2011 2:38 PM

Wouldn't that be wonderful? Can we please spend more money?

After the S&P downgraded our credit rating because of the massive debt we've incurred, let's go and incur more!

Well that's exactly what President Obama is calling for:

In his weekly address on Saturday, President Barack Obama called for Congress to approve more money for a new—and vaguely defined—program to repair roads, bridges and airports as a means of creating jobs for construction workers.

Smells like stimulus to me.

“And we ought to give more opportunities to all those construction workers who lost their jobs when the housing boom went bust,” Obama said in his address. “We could put them to work right now, by giving loans to companies that want to repair our roads and bridges and airports, helping to rebuild America.

Haven't we heard all of this before? The only words missing are "shovel ready". Didn't we go down this road already? Haven't we seen that it doesn't work? We were promised that unemployment would not go above 8%, but here we are stuck at 9.1%, and we've been there SINCE the stimulus!

I have news for the President: There are not that many people out there who build roads and repair airports. NEWSFLASH!

What about secretaries, mail room workers, factory workers, janitors, IT departments, etc.

There are more of those out there than qualified construction workers, especially ones who work on airports. How about getting them back to work?

How about not spending 100% of our GDP, that might help things too. All of this talk about common sense steps, but no common sense is being applied. Look at the data:

Shortly after Obama signed the $820 billion stimulus, the Bureau of Labor Statistics reported that unemployment had risen from 7.8 percent in January 2009, the month Obama was inaugurated, to 8.2 percent in February 2009, the month he signed the stimulus. Since then, unemployment has remained above 8 percent for 30 straight months. In July, the most recent month reported, unemployment was 9.1 percent.

I don't think the country can handle any more of that particular flavor of common sense.