Tuesday, January 26, 2010

According to CNN's Stimulus Tracker, the total stimulous to the US economy totals around 4.7 trillion dollars, including the 787 billion dollar first stimulous package and 3.9 Trillion in 'stealth stimulous', which includes things like credit market support programs, Financial Industry Bail-outs, and housing market initiatives.

And yet, for the vast majority of American people, the economy doesn't look like it's recovering. When President Obama visited Elyria, Ohio friday, he was greeted with statistics showing the state's unemployment jumping from 10.6% to 10.9%, higher than the national average, which is about 10.0 and slowly rising. Nevermind that economists appear on news stations claiming that the economic trend is veering towards recovery, for most people the econmy is still in ruins and our policy makers are gabbling about health care.

Obama acknowledged that communities like Elyria are still not feeling a recovery and renewed his call for Congress to pass a second economic recovery package, which aides say he will push hard for in his State of the Union address on Wednesday.

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