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Obama's Recovery Plans Hit Hurdles

By Ben Pershing
Two key tenets of President Obama's economic recovery plan have hit obstacles in recent days, as the Supreme Court temporarily blocked the sale of Chrysler to Fiat and high unemployment numbers cast doubt on the effectiveness so far of the administration's much-touted stimulus package.

Obama's continued promotion of the stimulus measure carries with it risk, as yesterday's events provided another opportunity for the media to cast a skeptical eye on the administration's claims. The Los Angeles Times writes that "so far the promised federal money has been slow in coming" and that the job creation numbers cited by the White House "appear to be elastic." More bluntly, some critics are calling the statistics "pure fiction." And others are pointing out that Obama seems to be recycling his material: Yesterday's Associated Press dispatch called the president's latest spending promises "summer reruns."

Amid all the bickering over statistics, here are two numbers that are not in dispute -- 9.4 and 42. The first is the unemployment rate as of May, which prompted Obama to say yesterday he was "not satisfied" with the pace of recovery so far, and forced the White House to defend "the overly optimistic economic models it used to justify the historic stimulus plan." The second is the percentage of respondents in the latest Gallup poll who disapprove of Obama's handling of the economy, up 12 points since February. Now, "Obama is under political pressure to show more immediate results," the Wall Street Journal writes, but a faster economic turnaround probably isn't within his power to create.

Continue reading at Political Browser »

By Ben Pershing  |  June 9, 2009; 8:23 AM ET
Categories:  The Rundown  
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Comments

Well Chrissy,

Your potus thinks Americans are the bad guys as his appologetic simpering to everyone, including radical muslims, attests to.
My point was that this banking issue is global. I'm more concerned what he's doing to Americans, that aren't his sheeple.

Posted by: tjmlrc | June 9, 2009 12:47 PM | Report abuse

Now now teejay,
What makes you think Goldman Sachs is American? It is another of the multi-national investment banking firms that knows no nation and will fly whatever flag of convenience is convenient.

What you care to get branded as interests the rest of the world precious little. We're also less interested in your anatomy than you might think. Read up on the history of international banking if you want to find out how money moves from place to place and when the U.S. sold it's manufacturing base to better produced Japanese industries, which in turn were undercut and outmanouevered by Korea and now China.

As for the lead in children's toys and other such scare stories, of course there's some truth in that but these toys and foods have to meet U.S.-American standards which have become lax.

I don't personally think of Americans as bad-guys, after all I am one myself.

Chris Brown in Hamburg

Posted by: chrisbrown12 | June 9, 2009 12:13 PM | Report abuse

Stimulus plan? Why do we keep using this propaganda term? It's Obama's government takeover of the economy plan. It's Karl Marx Chapter 1 with introduction by Saul Alinsky. The only thing being stimulated is Chris Matthew's legs - all 3 of them. Buy nothing except survival items, dried food, guns and ammunition. IF we put enough Democrats out of work, and keep them out of work long enough, we will be rid of them. Then we can restore private property rights, contract rights, the rule of law, and start repairing the damage.

Posted by: doctorfixit | June 9, 2009 11:56 AM | Report abuse

And while Goldman Sachs are doing their thing, the chinese are importing inferior and tainted goods that killed our pets and has done who knows what kind of harm to us.
And America is the only "bad guys?"

While all this was going on not one politician from POTUS down to junior senator (now potus) did one stinking thing on our behalf.

And now obama wants them to own us lock, stock and junky barrel. Maybe we'll all be able to get "Owned by China" stamped on our butts.

Posted by: tjmlrc | June 9, 2009 11:36 AM | Report abuse

Between the devil and the deep blue sea.
The attempts to argue by metaphor go on and on. On one hand we have Markm's scare mongering and cheap comparisons to Nazi concentration camps and euthenasia programs. On the other we have the fantasia about a leftist pipedreamer. Could it be that these two wild caricatures neither of which even remotely resemble each other share something in common? Yes they are so far wide of the mark as to be ludicrous. They also bear no relevence to the subject at hand: the effectiveness (or lack thereof) of the Democratic stimulus package.

Fortunately there are a few logical thinkers who can a little thinking about the problems and how they came to be.

Meanwhile far from the U.S. in good old Germany, a department store chain is close to going under because Goldman Sachs negotiated a deal where they mortgaged the deed to the ranch (i.e. the property and buildings owned by the department store) for a short term loan. GoldmanSachs certainly knows how to play the part of the loan shark.

Chris Brown in Hamburg

Posted by: chrisbrown12 | June 9, 2009 11:00 AM | Report abuse

Attention David Axelrod, Rahm Emanuel, Team Obama:


WHILE THE ECONOMIC CRISIS CONSUMES POTUS' ATTENTION, DEMOCRACY IS BEING STOLEN AT THE GRASSROOTS...

BY A FEDERALLY-ENABLED AMERICAN GESTAPO VIGILANTE ARMY THAT MAKES A MOCKERY OF THE JUDICIAL SYSTEM IN EVERY COMMUNITY IN THE U.S.


A secretive security/military/intel "program" fronted by federally-funded community policing and volunteer agencies implants covert GPS tracking devices and has deployed microwave radiation "directed energy weapons" to stalk, harass -- and yes, torture -- unjustly "targeted U.S. citizens and their families.

This "program" also targets the livelihoods and finances of its victims -- surely a contributor to the mortgage meltdown that triggered a global economic crisis.

Why hasn't the Civil Rights Division of the Justice Department launched an investigation? Is it because powerful U.S. agencies and commands spawned this "extrajudicial targeting and punishment network" and have covered up domestic, government-enabled atrocities?

Wake up, Team Obama. This "program" is violating civil and human rights -- and endangers the Obama presidency.

Now read this:

http://nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america

OR (if link is corrupted / disabled):

http://NowPublic.com/scrivener

Posted by: scrivener50 | June 9, 2009 10:53 AM | Report abuse

parkerfl1,

Just what planet did you come from anyway?

What appears to be "fantastic" to you right now is going to have to be paid for.

What obama is doing now is going to rear up and bite us all in the butt for some time to come. He can't stop the inevitable and it's been proven by Chrysler and GM. All that money and they are still going bankrupt.

Posted by: tjmlrc | June 9, 2009 10:50 AM | Report abuse

The media is almost the sole reason why pessimism continues over the economy. We are in the midst of a fantastic recovery fostered by Obama's sound policies, but the anti-Obama press doesn't want you to know it.

Of course the unemployment numbers will go up; everyone knows its a lagging indicator...

http://www.political-buzz.com/

Posted by: parkerfl1 | June 9, 2009 9:46 AM | Report abuse

What Obama's plan hit were..

REALITY and the LAW.

Two things that this dorm-room pot smoking bull session thinker of a Leftist knows NOTHING about!!

Great job, leftists, you sure can pick a new class of LOSER. Anyone who voted for this imbecile should have their voting rights suspended for a least three elections!!!

Posted by: LogicalSC | June 9, 2009 9:42 AM | Report abuse

This is another of those vague articles trying to analyse perceptions instead of dealing with economic policies. Fortunately Obama and his cabinet have long stressed the difficulties of economic renewal and the time lag involved in fundamental changes. The superficial aspects of the economy, such as market movements, consumer optimism surveys etc. tell us little about economic realities.

To turn economic packages into real employment requires time and effort. Nobody would be satisfied by an economic stimulus plan that involved just throwing money around for the short term to produce a cosmetic change. Nobody? Well I take that back: that was exactly the way money was dished out in the economic recovery plan for 2002. Millions went into a rebuild Manhattan plan that seems to have disappeared in a cloud of dust. The tax rebates that followed were quickly eaten up by a trip to a restaurant or shopping spree. Real economic restructuring such as is necessary for the infrastructure and for the auto-industry cannot be arranged overnight. Hence all the to and fro-ing about the GM rescue plan. We won't even get into the refinancing of Cerberus/Chrysler.

It's not a magic act where an illusionist waves a wand. Renewal takes work and time.

Chris Brown in Hamburg

Posted by: chrisbrown12 | June 9, 2009 9:31 AM | Report abuse

During the campaign an obama spokesperson mentioned that one way to control costs for national health care would be the termination of medical benefits for citizens who reach a certain age, such as 75. It was at that point when my mother, a refugee from nazi Germany, realized that Obama-national-socialism is much more sinister than we were being led to believe by the media.
If you put together the pieces this is what you get: (1) Abort defective and unwanted babies. (2) ration health care and reserve the best care for politically chic groups while making others wait in line. (3) terminate benefits to the old and infirm who are no longer of use to the state. (4) save human fetuses for lab experiments. I suppose that Obama's choice to head all of this will be Dr Mengele.

Posted by: MARKM2 | June 9, 2009 9:25 AM | Report abuse

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