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With federal stimulus funds running out, economic worries grow
Los Angeles Times / latimes.com ^ | June 30, 2010 | By Alana Semuels, Los Angeles Times

Posted on 06/29/2010 9:41:09 PM PDT by thecodont

With home sales sliding, employers reluctant to hire and world stock markets gyrating wildly, the U.S. economy is in danger of stalling. Now one of its only reliable sources of fuel is running out: federal stimulus spending.

Funds flowing from the $787-billion legislation passed last year have helped create hundreds of thousands of jobs and propped up social programs such as unemployment benefits. But with much of that money spent and lawmakers reluctant to approve another big round of spending, concerns are rising about what will replace it in the short term to keep the economy moving.

Jitters about a global slowdown pounded world markets Tuesday after an index forecasting Chinese economic activity was revised downward and Greek workers walked off the job to protest government budget cuts. In the U.S., the Dow Jones industrial average plunged 268 points on news from the Conference Board that consumer confidence fell in June after three straight months of gains.

Economists worry that the weak labor market will spook U.S. consumers, whose spending fuels the economy. Dwindling federal stimulus funds are only heightening those fears.

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: California
KEYWORDS: recession; stimulus; unemployment
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To: bruinbirdman

Slapping my hand on my forehead ... GOD HELP US SERIOUSLY NOW !!!


21 posted on 06/29/2010 11:02:00 PM PDT by American Constitutionalist (There is no civility in the way the Communist/Marxist want to destroy the USA)
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To: thecodont

If they don’t cut taxes at the same time they stop spending, its going to be a disaster.

Obama still is looking for his big tax increase next year, he is counting on it.


22 posted on 06/29/2010 11:04:50 PM PDT by dila813
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To: dila813

He isn’t getting crap in this environment.


23 posted on 06/29/2010 11:07:51 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: John Semmens
(( ping ))

Check this out! It rivals your own work:

Funds flowing from the $787-billion legislation passed last year have helped create hundreds of thousands of jobs and propped up social programs such as unemployment benefits. But with much of that money spent and lawmakers reluctant to approve another big round of spending, concerns are rising about what will replace it in the short term to keep the economy moving.

24 posted on 06/29/2010 11:10:53 PM PDT by Lancey Howard
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To: eyedigress

I know that, you know that, everyone knows that, accept the King with no clothes


25 posted on 06/29/2010 11:14:03 PM PDT by dila813
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To: lurk

Amen. God help us!


26 posted on 06/30/2010 12:35:27 AM PDT by MonicaG (God bless our military! Praying and thanking God for you every day. Thank you!)
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To: dila813
Obama still is looking for his big tax increase next year, he is counting on it.

And where does he expect to get this money??

27 posted on 06/30/2010 12:53:05 AM PDT by thecodont
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To: Longbow1969

What ideas? He never had a salient one to begin with. Now he is spouting off that he is tripling down next years by threatening us with even more spending and taxing. To paraphrase, “call our bluff”. The idiot isn’t even smart enought to know a bluff when he doesn’t see one.


28 posted on 06/30/2010 1:59:22 AM PDT by mazda77 (Rubio for US Senate - West FL22nd - JD Hayworth - US Senate)
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To: thecodont
Funds flowing from the $787-billion legislation passed last year have helped create hundreds of thousands of jobs

Funds flowing from the $787-billion legislation passed last year have helped create or save hundreds of thousands of jobs...(fixed it)

29 posted on 06/30/2010 2:51:32 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: Hoodat

The only way to stop the bleeding is to stop bleeding.<<<<

Now that’s a fact! But do they want to!? Cloward and Piven A complete and devastating crash may be the only way to stop this cabral -
watch out for the aftermath though it may get very messy!


30 posted on 06/30/2010 3:40:57 AM PDT by timetostand (Ya say ya wanna revolution -- OK!)
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To: thecodont
have helped create hundreds of thousands of jobs

Lying bas*****.

31 posted on 06/30/2010 4:51:57 AM PDT by calex59
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