Yes Donovan, much much worse is yet to come. Let's take a quick look at the "stimulus" package (spending package). This has been promised to be a rapid and substantial shot in the arm for our economy. Really? According to the Congressional Budget Office around 25 billion of the 825 billion earmarked will be spent in 2009 - call it 3%. By 2010 another 110 billion will be spent. Let's see, 2 years into BHO's reign and a only a little over 15% has been spent. Where is Obama's quick turnaround??<br>
<br>Worse yet, where is this money going? "A stimulus package to bring new jobs and infrastructure" OK - building new highways, fixing old ones, bridges, etc - 30 billion, not even 4%. New green jobs? Alternative energies? A mere 20 billion - and only 2 billion of that released by 2011. <br>
<br>And jobs? Well there is around 2 billion for child care subsidies (no new jobs here - just $$ to pay for child care - presumably for those fortunate enough to have a job), over a billion for Amtrack - a real money- and job-maker, 2.5 billion for "carbon capture demonstration projects" (WTF??) but maybe some jobs for someone there . . . And 650 million for digital television converter coupons - get em while they're hot.<br>
<br>Over $225 billion is earmarked for spending by the government!! Over 150 different federal agencies and programs are getting over 25% of this "stimulus" money - and this is for buying "stuff" - hybrid vehicles for gummnt use (what is it? You need to drive somewhere around 300,000 miles before you see any savings?) communication and internet upgrades, new computers, office furniture - where are the new jobs here??<br>
<br>And nobody has bothered to point out this "stimulus" is going to cost an additional 350 billion in interest.<br><br>And all of this is being run buy Mr Fiscal Responsibility himself, Timothy Geithner. Yeah, the guy behind TARP and it's loss of over $60 billion so far.<br>
<br>So yes Donovan, much worse is to come. And most of that will be fueled by the Feds running the presses night and day flooding our economy with increasingly worthless $$. Stock up on bread now before it's $100 a loaf.<br>
<br>Have a good day<br><br>GS<br><br><div class="gmail_quote">On Fri, Jan 30, 2009 at 10:59 AM, Donovan Arnold <span dir="ltr"><<a href="mailto:donovanjarnold2005@yahoo.com">donovanjarnold2005@yahoo.com</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="border-left: 1px solid rgb(204, 204, 204); margin: 0pt 0pt 0pt 0.8ex; padding-left: 1ex;"><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; font-size: inherit; line-height: inherit; font-size-adjust: inherit; font-stretch: inherit;" valign="top">
<div>Ouch! 5.1% this quarter, 3..8% last quarter. Is the worst still to come?</div>
<div> </div>
<div>That seems like a huge drop in the number of jobs, and GDP for just one quarter. </div>
<div> </div>
<div>I think we are going to be in a depression unless this slows and stops in the next few months. </div>
<div> </div>
<div><a href="http://news.yahoo.com/s/ap/20090130/ap_on_bi_go_ec_fi/economy" target="_blank">http://news.yahoo.com/s/ap/20090130/ap_on_bi_go_ec_fi/economy</a></div>
<div> </div>
<div>Hang onto your wallets!</div>
<div> </div>
<div>Best Regards,</div>
<div> </div>
<div>Donovan</div></td></tr></tbody></table><br>
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