Yes Steny, Unemployment Is Going UP - And DC Can't Stop It..
I'm watching Fox News Sunday, and they had John Boehner and Steny Hoyer on together. They were talking about the economy, and Chris Wallace mentioned that Barack Obama said during the campaign that they would keep the unemployment rate under 8% - it's now 9.5% . Wallace asked if they are disappointed that the Stimulus hasn't worked like they wished. Hoyer admitted that the Democrats are indeed disappointed with the results, but that they're hoping for better things in the future.
This gives me the impression that the Democrats in Washington DC either 1) Don't understand how the economy works, 2) Are just concerned with increasing their power base of your taxes, or 3) Both. My guess is that it's Number 2, but just in the off chance that it is Number 1, I'll explain why the unemployement rate is now 9.5% ........
Dear Steny, as much as it pains you to hear this, DC does not, has never, and will never control the economy. The private sector controls the economy, has always, and will always. Washington DC does have the ability to regulate them to keep them from the occasional screw up (Ex. - The Mortgage Crisis), but they CAN'T affect real change in the economy. That's why the Stimulus that you guys spent $787 Billion on is all show.
As big a number as that sounds to you guys, it is a spit in the ocean as far as the economy is concerned. So, when the economy goes South, and American Business decides it's time to cut jobs, you and the rest of Congress are virtually powerless to stop it. Anything DC does is marginal - extremely marginal. Building a few bridges and roadways will not stop it. It doesn't create jobs, maybe it will salvage a few, but even those numbers get schewed, so who knows?
Hopefully, this clears things up for you guys. I know you guys think that you have this infinite power supply, and that you can affect everythign you see, but the fact is that just isn't true - and we are ALL glad for it! Sorry for having to be the one to break the news, but someone had to.....Happy 4th of July. You remember it - it's the holiday where we celebrate our INDEPENDENCE ......