Madoff was convicted and sentenced to 150 years for a Ponzi scheme. Social Security and Medicare are being fought for by Obama and the libs as your right regardless of the fact that they too are funded no differently than Maddof’s scheme. Global warming and infrastructure are on top of Obama’s new jobs plan.
In 2009 stimulus was promised to create millions of new jobs, returning all of those previous administration unemployed back to work. Green jobs, the way of the future, saw primarily office employment. Before implemented Spain was dropping it’s program. Companies here which did not closed their doors and disappear moved back to home offices outside of the country, after spending stimulus allotments.
Bloomberg: “The ideas President Barack Obama is considering for his new jobs agenda could put hundreds of thousands of people back to work, and still have a limited impact in an economy that remains 6.8 million jobs behind its pre-recession peak, economists said. …
More than two years after the recession’s official end, the jobless rate held at 9.1 percent in July, just one percentage point below its 10.1 percent peak in October 2009. Concern about the economy has increased in recent months as growth weakened during the first half of the year to its slowest pace of the recovery and financial markets turned tumultuous amid worries about the European debt crisis. …
Prakken estimates a $50 billion public construction program could only complete about $7.5 billion in work the first year. He estimates that would create 75,000 jobs in the first year and peak employment of about 125,000 in the second and third years. That is about the same as the average monthly growth in payrolls so far this year.”
Obama wrote a letter listing 7 regulations which he was focused, the primary one being green jobs. How much of the employment isn’t union?
AP: “In the letter dated Tuesday, Obama lists four proposed Environmental Protection Agency rules and three Department of Transportation rules estimated to cost in excess of $1 billion. One proposed EPA regulation on air quality standards is estimated to cost the economy between $19 billion and $90 billion.”
Just as Obama continues to claim economic recovery he says that changes already made will save $10 Billion over the next 5 years, again no figures or facts to support it. America has seen the results of his 2009 stimulus, why will more spending change it? How can it be funded without more borrowing?