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I am getting so sick and tired of this recession being compared to the Great Depression.
The Great Depression was extended by the Government trying to regulate a free market system and adding on social programs that they knew we had no ability to pay back. The unemployment was around 30% with half the population we have now. The deficit to GDP was about 22% whereas right now it stands at 7%-8% but about to jump to 14% when this porkulus is passed.
There maybe short term work created but it won't exceed a million and those jobs will have a lifespan of about 1 year, just enough to build their unemployment back up. Every year our economy goes through about $8 trillion and this package actually only spends about $400 billion instantly putting money into the economy so at this rate the Government will be asking for more in about one month. While 7.6% is not a good number for unemployment people have forgotten that 2 years ago the number was 4.6%, almost record lows, until the Democrats took over Congress and started forcing social bills attached to other expenditures like the military funding. At that time the minimum wage was raised and will be again this June and unemployment benefits were extended. At that rate companies just couldn't keep up and come June they will probably lay more off to keep from having to pay even higher wages for non-productive jobs.