fuel card tax implications
Five months after enacting the stimulus bill, we can now say that we have witnessed the following, as the results exciting.
Payrolls fell more than expected, with employers having cut 467,000 jobs in June after a decline than 322,000 jobs in factory jobs May. fall of 136,000 after falling 156,000 in May.
Unemployment is at 9.5%, the highest level in 15 years, and is expected to exceed 10% at the end of 2009. Some economists expect to remain at historically high levels for years.
The average workweek is 33 hours, the lowest in 45.
The average weekly earnings have fallen to $ 611.
The national debt is $ 11.5 trillion. The Congressional Budget Office projects the deficit for 2009 to nearly $ 2 trillion and by 2010 to over $ 1.4 trillion.
The Treasury is increasing its sales spending. debt to pay for Treasury offered $ 1 billion in debt securities in the first half of 2009 and plans to offer another $ 1 trillion by the end of 2009.
Colin Powell, of all people, it is alarming that Obama's spending spree may be swelling of the government and the national debt: "I am concerned by the number of programs being introduced bills associated with these programs and additional government that will be necessary for its implementation … Â [We] a huge huge national debt, if not pay for [it] in our lives, our children and grandchildren and great grandchildren will pay for … "Â Now tell us!
Jared Bernstein, chief economic adviser to Joe Biden, whose office is the management of stimuli, he says, "It's work, is demonstrably working.  According Bernstein, $ 200 billion in stimulus money has already been spent. Subject obligated or closed!
Bernstein Note: In order to prove causation, it must demonstrate that: (1) there was a cause, (2) was not an effect, and (3) the cause of the influence Advocates effect. stimulus bill is still stuck at # 1: From June, only 10% of funds had distributed. Bernstein incentive of $ 200 billion "of forced or past" appears eerily reminiscent of "the administration jobs saved or created, "trope" is unreliable, because the administration has been caught lying about the money allocated for spending projects.
Given the lamentable failure of the stimulus bill, congressional Democrats naturally want … another stimulus bill! Â According to the House leader Steny Hoyer the majority, "We must be open to new measures …." One Democratic Senator Sheldon Whitehouse said another stimulus that "probably will take place later this year. "a second tier of Democratic Sen. Dick Durbin said he would leave decisions on pass another stimulus bill the "evaluation of the president" and we all know what Barack prudent "fiscal restraint" Obama will be! Stan Collender, a former budget analyst of Congress, said another stimulus bill may be possible if economy worsens: "Right now it does not seem justified … Â Come September, that could be. "
The first stimulus package was "a little too small," according to Laura Tyson, a member of Obama's Economic Recovery Advisory board.id Paul Krugman wrote in The New York Times, "OK, jobs report on Thursday which it sits. Â We will need further encouragement. "Bernstein says adviser to Biden:" There is no conceivable stimulus package on the face of this earth that fully offset the deepest recession since the Great Depression. "
Let's see: the stimulus bill made a record 787 billion U.S. dollars in spending. Tyson says he should have been "a little" bigger. Congressional Democrats and Krugman loved him very much larger. Bernstein admits would have to be infinitely large to work. Can we give Bernstein the prize for unintentional honesty in this?
The clincher for the stimulus bill was a complete failure, and another project stimulus bill would fail again "is the fact that Wall Street has just hit a 10-week low after talk of a second stimulus package Amateur began. recently analysts suggest that talking about another stimulus bill is making investors nervous, because this-get-it shows that the economy could not be recovering.  According to Hugh Johnson of Johnson Illington Advisors, "When you talk of another stimulus plan, which adds fuel to the fire, intensifies the concern at the timing and strength of recovery. "
Is it possible, just possible, that investors are nervous, not because Congress "hinting at a second stimulus package means that the economy recovers, I think it can find on your own, but because Congress is implying a second stimulus package?
If Democrats are not persuaded by the Republican argument, supported by abundant historical data, spending large amounts of wealth has not yet created not stimulate the economy in the long term, could at least admit his little experiment failed and test Republican choice for a change?
