The Problem with the Obama Non-Stimulus
Straight from the horses mouth:
BIDEN: Well, look, we have increased the amount of money unemployed -- those on unemployment rolls have gotten, 12 million are getting more money because of the stimulus package.$60 a week for *some* American families. As pathetic as 10% unemployment.
We've increased the number of people eligible by 2 million people. We've given a tax cut to 95 percent of the people who get a pay stub. They have somewhere -- $60 bucks a month out there that's going into the economy.
There is a lot going on, George. And I think it's premature to make the judgment?
STEPHANOPOULOS: So no second stimulus?
BIDEN: No, I didn't say that. I think it's premature to make that judgment. This was set up to spend out over 18 months. There are going to be major programs that are going to take effect in September, $7.5 billion for broadband, new money for high-speed rail, the implementation of the grid -- the new electric grid.