Obama Promises of Jobs from Summit
61President Barack Obama
President Obama's Job Summit
In December of 2009, President Obama met with private enterprise executives and company owners to get a closer look at the state of unemployment that has not reached a record 10.2 per cent up from 9.4% during the summer. President Obama was hopeful as news reports that the job summit can help to get 15 million unemployed Americans back to work.
Google news reports that the president may issue another stimulus package with the goal of reducing the unemployment rate although legislation has not bee developed as the Senate if busy with the health care reform bill. The Obama administration after announcing the addition of 30,000 troops and resources to the Afghanistan war decided to take a look at the domestic problem of the growing problem in America of joblessness. The job summit with major employers including Disney studios is hoped to bring attention to the growing unemployment rate and stimulate large and small businesses to do what they can to reduce the unemployment lines.
600,000 Stimulus Jobs Promised This Summer
The unemployment rate in America is now 9.4 per cent. Up from 8.6 per cent, 9.4 per cent is the highest unemployment rate in twenty five years. President Barack Obama fresh from his trip to D-Day in Normandy and the Mideast trip promised the American people 600,000 jobs this summer as part of the $787 Billion Economic Stimulus Package. The $787 Billion Economic Stimulus Package goal is to create 3..5 million jobs for economic recovery. The recovery plan was passed into law in February of 2009.
The $787 Billion Economic Stimulus Package as reported by the Washington Post has created jobs as promised since the plan became a law. Hundreds of maintenance projects have created jobs on military bases. The recovery plan has funded hundreds for 1,600 state road and airport improvement. The stimulus package has created jobs for 135,000 principals and education support people nationwide.
Summer was selected to increase disbursing of the $787 Billion Economic Stimulus Package because of the fair weather, road projects and public work maintenance and repair projects. When the $787 Billion Economic Package was passed into law in February, President Obama had envisioned the funds not being allocated for public work and transportation projects until about the middle of the year. California and other states across the country have been refurbishing and building public transportation buses as part of the recover plan. Schools and summer youth programs are also expected to receive funding from the $787 Billion Economic Stimulus Package. A few states such as Virginia returned millions of the recovery funds to the federal government thinking that the money would add to the tax base. Politicians running for government are using the return of these funds as the basis of candidates not being elected for governor.
Because of the soaring unemployment rate at 9.4 percent, President Obama is stepping up allocations of the $787 Billion Economic Stimulus Package from the state level to create the jobs. Federal agencies are in place to process the requests from the state level in regards to creating the 600,000 stimulus jobs by June of 2009. President Obama expects to boost the economy with the job creation for 600,000 from the $787 Billion Economic Stimulus Package.
"We have a long way to go on the road to recovery but we are going the right way."
In a written statement for public announcement President Obama stated the need to create 600,000 summer stimulus jobs, President Obama said: "We have a long way to go on our road to recovery but we are going the right way." The written statement was issued as a part of his weekly radio address to the country. President Obama went on to write the statement that was issued publicly, "Our measure of progress is the progress the American people see in their own lives. And until that progress is steady and solid, we've going to keep moving forward. We will not grow complacent or rest. Surely and steadily, we will turn this economy around."
Americans are joining the unemployment roles everyday, but the Washington Post reported,however, that the unemployment rate of May was lower than expected. President Obama claims that 150,000 jobs have been created by the $787 Economic Stimulus Package to date. Government reports show that 1.6 million jobs have been lost since the recovery plan became a law in February of 2009.
The major critic of the $787 Billion Economic Stimulus Package is Republican Mitch O'Connell of Kentucky. He says that the huge spending bill will not recover the economy. Mitch O'Connell stated that the "economy will recover on its own."
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Comments
nicomp: Thank you for your comment. Believe it or not, the economy is beginning to mend according to economists. Also do not forget that the Federal Reserve with its beige books keeps up with the value of the dollar and issued a huge sum of money after the $787 economic stimulus plan to recover the economy. I have written several articles about other avenues where pockets of money for the economy comes from. The government does not get its money just from the American tax payer.
Next to nothing has been created for the billions already spent. And the supposedly created jobs are all in government. It's rediculous to say jobs are created by preventing layoffs of teachers. Then turn around and give congress a 6% raise and continue spending on Pork Projects.
The crisis is the result of Federal Reserve Policy. And the inflationary debt model of the Federal Reserve has reached it's limit.
October 2009 - 520,000 more jobs lost!
Abolish the Fed and restore the Economy to the People and not the Wealthy ruling elite who control the Banks
MikeNV, thank you for your comment. You know, I was agreeing with you until that last sentence. I think that Obama is looking to help the poor and not the wealthy with all of the government housing programs. The truly wealthy only make about 5% of the US population and taxes have been heavily levied against these people. Forbes magazine actually was telling the wealthy where to protect their money in Swiss banks and named a few who had found tax havens as close as Mexico. Your comment is much appreciated.





nicomp says:
4 months ago
Government cannot create jobs. Government has no money, save what is collected in taxes. Wealth is redistributed from a taxpayer to an 'employee' and the taxpayer no longer has the money to spend on anything else. Companies that the taxpayer would have otherwise patronized will suffer. It's a zero-sum gain.