Posted on 07/10/2009 2:39:55 PM PDT by Jet Jaguar
Despite persistently high unemployment, Treasury Secretary Timothy Geithner said Friday the Obama administration's economic stimulus plan is on the "expected path." "There's been substantial improvements in arresting what was the worst recession globally we've seen in generations," Geithner told lawmakers Friday.
Geithner's remarks came amid waning public support for President Barack Obama's economic policies. Republican critics say the rising unemployment rate is proof that the $787 billion stimulus has not helped reverse the effects of the recession.
"I was just wondering, where do you think your plan went wrong?" asked Rep. Bill Posey, R-Fla.
About 2 million jobs have been lost since Congress passed Obama's stimulus package in February. Unemployment now stands at 9.5 percent, the highest in 26 years. Some Obama allies have been calling for Congress to pass a second stimulus package.
Geithner said the rate of decline in the economy has slowed, consumer confidence has improved, the financial system is healing, and concern about a financial meltdown has receded.
"Those are critically important signs of initial progress," Geithner said.
Geithner said joblessness is an inescapable element of a recession and that unemployment continues to rise even as an economy begins to improve. Without the stimulus, he said, more jobs would be lost.
Rep. Michael Rogers, R-Ala., challenged Geithner's assertion that business and consumer confidence was improving.
"People are scared to death," he said.
(Excerpt) Read more at breitbart.com ...
“Geithner: Stimulus is working and on right path”
Poor fellow. Terrible position to be in...having to blow smoke up his own....
Schmuck
“Geithner: Stimulus is working and on right path”
Then why do need a second one?
Turbo Tax Cheat needs to update his software before he misses out on paying his taxes again
He’s the Madhatter=Obooboo=Alice, and schools out for good!
This is beyond Baghdad Bob.
Obviously isn’t working. Because it CAN’T work. The only way to get things going again is to lower taxes on businesses and all those who create, through the sweat of their brow, goods and prosperity.
Liberals live in a different world than normal people. They will never understand how they can be wrong.
I have a 2600 lb bull I would like to introduce this guy to and see who can out bs who.
The Dems have lied so often I no longer believe anything they say even if it just might possibly be the truth.
Come, again? On what planet would the stimlus be working?
Unfortunatly it is working to enslave us, not help us
Delusional, they need a reality check. Of course they were told this would be the effect and even though the bar was extremely low they still managed to get under it. LOL
A large part of the economic situation is the confidence or fear of the population. The first Porkulus was so obviously a Congressional cash grab rather than a planned operation to aid the economy that its passage worsened everyone’s confidence and made people spend less and save more for the even harder times ahead. The current talk of “Everything’s OK, but we desparately need a new stimulus” isn’t helping at all.
The sky is green
Down is up
Wrong is right (of course, the Dems have believed this for a long time)
See, Timmy, we Freepers can play this game, too!
Yup, and it was all Turbo Tax fault that you cheated on your taxes.
This from a guy who can’t even use TurboTax?
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