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 ...
Slapping my hand on my forehead ... GOD HELP US SERIOUSLY NOW !!!
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.
He isn’t getting crap in this environment.
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.
I know that, you know that, everyone knows that, accept the King with no clothes
Amen. God help us!
And where does he expect to get this money??
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.
Funds flowing from the $787-billion legislation passed last year have helped create or save hundreds of thousands of jobs...(fixed it)
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!
Lying bas*****.
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