I see no difference between the lies told by the Bush regime and the Obama administration...both lied to cover their "rearends".
Mr. President, unemployment is at 10% and has been there all year, stop blowing sunshine up our butts...this economy stills sucks. If we still don't have any jobs or extended unemployment benefits come November, a lot of Democratic lawmakers will lose their jobs anyway. Stop acting like Republicans because conservatives won't vote for you anyway.
Do you really think you will get Republican votes because you cut off COBRA subsidies?
I mean really, do you think Republicans are going to forget their positions on Guns, God, Gays and Abortion and vote for Democrats because you cut off COBRA subsidies and unemployment benefits for a 4-5 million people, it's laughable. There is something mentally wrong with the Democratic lawmakers if they believe that.
We are not creating jobs, in any meaningful numbers, regardless what Vice President Biden is saying, it's just nonsense;
Biden came in through the back launched into a meandering soliloquy about how the economy was back on track thanks to the Recovery Act, a.k.a. stimulus. There’s a lot of rambling, but essentially the Vice-President wants to pat himself on the back for this claim: "Things are going much better. Very few people doubt any longer we’ve created somewhere, as the Council of Economic Advisers said between 2.2 to 2.8 million jobs."
I know you’re shocked to hear this, but Biden has his facts slightly wrong here. Actually, the CEA says the stimulus "has saved or created between 2.2 and 2.8 million jobs as of the first quarter of 2010."[1]
The May jobs report showed just how few jobs were created and those that were created were temporary Census jobs that will go away starting in June and July;
An initial analysis of the 431,000 jobs total reveals a May jobs report that was a major disappointment. Dismal might be a better word, as private sector hiring is still way too low.
First, the economy added 431,000 jobs in May -- well below the 540,000 Bloomberg survey estimate.
Second, after excluding the 411,000 U.S. Census workers hired, private sector payrolls rose by a scant 41,000 (net of public sector losses other than Census jobs).
Third, the Labor Department lowered its estimate for jobs created in March to 208,000 from the previously released 230,000. Economists were expecting an upward revision. The government's estimate for jobs created in April remained the same at 290,000.[2]
So now the deficit hawks, you know the ones - those lawmakers that approved a war of choice and wasted trillions fighting it, want to slash spending in the one area of government that's making a difference and "oh, BTW" just so happens to be keeping the economy from tanking completely.
The reason we are in this mess is not because of the deficit but because wages are in the toilet along with job growth;
The reason so many Americans went into such deep debt was because their wages didn't keep up. The median wage (adjusted for inflation) dropped between 2001 and 2007, the last so-called economic expansion. So the only way typical Americans could keep spending at the rate necessary to keep themselves -- and the economy -- going was to borrow, especially against the value of their homes. But that borrowing ended when the housing bubble burst.
So now Americans have no choice but to pare back their debt. That's bad news because consumer spending is 70 percent of the economy. It helps explain why we so few jobs are being created, and why we can't escape the gravitational pull of the Great Recession without far more government spending.
It's also a bad omen for the future. The cheerleaders are saying that for too long American consumers lived beyond their means, so the retrenchment in consumer spending is good for the long-term health of the economy. Wrong again. The problem wasn't that consumers lived beyond their means. It was that their means didn't keep up with what the growing economy was capable of producing at or near full-employment. A larger and larger share of total income went to people at the top.
So in the longer term, it's hard to see where the buying power will come from unless America's vast middle class has more take-home pay. Yet the economy is moving in exactly the opposite direction: Businesses continue to slash payrolls. And the hourly wage of the typical American with a job continues to drop, adjusted for inflation.[3]
Wall Street Bankers got nearly a trillion dollars on a wink and a nod, but middle-class workers, who lost their jobs BECAUSE of those bankers, can't get a mere $24 billion dollar subsidy to continue to purchase health care...and this is going to win votes how?
Sources:
[1] Hey, Joe Biden! Can I have those two hours of my life back?
http://www.washingtonexaminer.com/...
[2] The Sobering Message In May's Jobs report
http://www.dailyfinance.com/...
[3] Don't Listen to the Cheerleaders, the Main Street Economy Isn't Improving
http://www.huffingtonpost.com/...