Tags: barry elias | john boehner | american reinvestment and recovery act

Obama May Be "Shovel-Ready" in 2012

By    |   Friday, 17 Jun 2011 09:36 AM

At an event for his Council on Jobs and Competitiveness, President Obama proclaimed that, “Shovel-ready was not as shovel-ready as we expected."

He was referencing his $830 billion stimulus program of 2009. 

This statement supports his contention last year when he said, "There’s no such thing as shovel-ready projects."

This double-speak deserves a double-take.

You may recall, the notion of “shovel-ready” projects was the primary principle used to promote the $830 billion American Reinvestment and Recovery Act of 2009 (stimulus program)

The administration proclaimed these “shovel-ready” projects would propel the economy onto a sustainable path and would prevent unemployment from exceeding 8 percent. 

By then, unemployment was projected to be less than 7 percent.

The administration believes the program was a success and has expressed interest in expanding it. Vice Present Joe Biden, charged with directing the stimulus expenditures, recently said, "The Recovery Act is doing more, faster and more efficiently and more effectively than most people expected."

Now, back to the future with a reality check:

1.  Unemployment soared above 10 percent. 

2. Unemployment currently hovers above 9 percent.

3. Unemployment is over 20 percent when all those seeking employment are included.

4. $47.4 billion, a mere 5.7 percent of the total stimulus expenditures, was used for “shovel-ready”  projects, such as roads, bridges, railroads, airports, and high-speed rail.    

House of Representatives Speaker John Boehner, responded, "I don't think it's a joke to the millions of Americans who find themselves unemployed."  

The Council on Jobs and Competitiveness is headed by Jeffrey Immelt, chief executive officer of General Electric. Assisted by its 1,000-person tax department, GE filed a 24,000 page, corporate- tax return last year. This filing reduced its tax liability by approximately $5 billion, largely due to international earnings and overseas employment.

Mr. Immelt may not be the appropriate individual to manage this council

The hypocrisy is deafening, and the reality is severely disconnected from the rhetoric.

Does the President lack certain competencies, compassion, or a combination?

 

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At an event for his Council on Jobs and Competitiveness, President Obama proclaimed that, Shovel-ready was not as shovel-ready as we expected. He was referencing his $830 billion stimulus program of 2009. This statement supports his contention last year when he said
barry elias,john boehner,american reinvestment and recovery act
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2011-36-17
Friday, 17 Jun 2011 09:36 AM
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