Posted on 07/18/2009 9:10:54 AM PDT by TaxPayer2000
Of all the statistics pouring into the White House every day, top economic adviser Larry Summers highlighted one Friday to make his case that the economic free-fall has ended.
The number of people searching for the term “economic depression” on Google is down to normal levels, Summers said.
Searches for the term were up four-fold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told the Peterson Institute for International Economics.
Summers continued the administration’s push-back against critics of President Barack Obama’s handling of the recession, defending the economic stimulus package against Republicans who have tried to paint the program as a failure because it hasn’t stemmed the unemployment rate.
“We pledged at the time the Recovery Act became law that some of the spending and tax effects would begin almost immediately.,” Summers said in prepared remarks. “We also noted that the impact of the Recovery Act would build up over time, peaking during 2010 with about 70 percent of the total stimulus provided in the first 18 months. Now, five months after the passage, we are on track to meet that timeline. “
Summers rattled off a list of accomplishments of the stimulus package:
“More than $43 billion in immediate tax relief has reached households and businesses. Another $64 billion has been channeled into the economy through aid to state and local governments, expansions in social programs, and spending on education, housing, and transportation projects. In addition to the amount that has already been paid out, another $120 billion in spending has been obligated by the federal government and is on track to begin working its way into the economy.”
GMTA.
me too! LOL!
Just did the same. LOL.
I think that’s called “grasping at straws” Mr Summers!
What a stretch . . . what a morooon!
Sounds like logic to me looking at the number of hits on Google. And these people are supposed to be smart. Maybe they just lack common sense !!
I’d like to see the stats on the search term “Obama Communist”
I wonder if he’s measured the large increase in Google searches for “Jack Ass” since he took office.
Just when you think this bunch can’t get any more laughable . . .
LOL!!! The best thing about that Politico article is that it’s the first time I haven’t seen a bunch of liberals making comments in the comments section. Even they can’t defend that moronic BS.
Now another clown at Examiner.com is saying “it might” not be crazy?
We’re surrounded!!!
I had to check this out as it sounded like it was from The Onion.
No joke. Larry Summers actually said that.
Because fewer people are googling the phrase “economic depression” that means prosperity is just around the corner.
Will you all join me in a rousing stanza of “Happy Days are here Again”? Anyone?
What about the number of people searching on the term "anti-American"
Googled..econonic depression, depression, revolution, assasination, martyr, victory, liberty.
Hint: SCHOOL’S OUT FOR THE SUMMER
Maybe that is because the people out of work can't afford internet access anymore, thus lowering the number of Google searches.
How about the term “can we recall president of the united states.”
I will participate....as soon as Barry and his posse of moronic and idiotic goons are removed from office.
For the last year or so on FR I have concentrated on posting articles about shipping: dry bulk, containers, oil, and rail. The reason is that those are true indicators of the economy and international trade, not some Oprah level economic straw grasping. Pay some attention to the unreal slight of hand of Wall Street and Washington, but focus like a laser on the real world that can’t be fudged.
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