… another “trust me I’m with the government” moment.
First, here is a story from ABC: Recession Is Over According to Financial Experts
There is a growing belief among financial experts that the recession is over.
Barry Knapp, a strategist at Barclays Capital, wrote recently that the economy appears “to be in the sweet spot of a recovery” and that the recession may have ended last month, according to Bloomberg News.
Liz Ann Sonders, chief investment strategist at Charles Schwab, said on “Good Morning America” today that she agrees with that conclusion.
Got that? Get back to your reckless spending people! The Stimulus Package that your government said was so desperately needed worked as advertised. President Obama has delivered us all and it only took 878 billion dollars.
Wait, this just in from the New York Times:
Nearly three months after President Obama approved a $787 billion economic stimulus package, intended to create or save jobs, the federal government has paid out less than 6 percent of the money, largely in the form of social service payments to states.
So, doing the math in my head, all it took for us to get out of the recession was 53 billion dollars. Whew. Well, I am sure glad that we have not spent that other 734 billion.
Wait again, this just in from the same NYT article…
Now, a federal government that has often been caricatured as profligate has begun trying to spend money as quickly as possible and has become fixated, to use the new Washington catch phrase, with “getting money out the door.”
The Obama administration has committed to spending 70 percent of the money, or $550.9 billion, within the first two years. By that benchmark, an administration official said, the government is 8 percent toward its goal.
The recession may be over, but the work of government must continue, after all President Obama “has commited”. You will be just as commited… when the camps open up.