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The McNerney/Pelosi $983 Billion Stimulus Bill a Failure as New Labor Statistics Reveal California Unemployment Numbers Remain Among Nation’s Highest

Original post made by Kelly, Canyon Meadows, on Aug 31, 2010

Unemployment soars as McNerney continues to promise jobs

The McNerney/Pelosi $983 Billion Stimulus Bill a Failure as New Labor Statistics Reveal California Unemployment Numbers Remain Among Nation’s Highest

Late last week, the Bureau of Labor Statistics released individual state unemployment numbers for July, confirming that California’s unemployment rate remains among the highest in the nation at 12.3%. The numbers are startlingly different than the promises made by Jerry McNerney when he voted to add a trillion dollars of new debt spending to taxpayers, all in the name of creating jobs.

“The fact is, Jerry McNerney has saddled taxpayers with trillions of dollars in new debt, but has little to show for it,” said GOP Congressional Nominee David Harmer. “When McNerney voted for the unprecedented stimulus debt spending bill, California’s unemployment rate was at 7.2%. Today it’s at 12.3% and an additional 376,000 jobs have been lost. The stimulus is a huge failure, and all taxpayers are left with is an unpayable debt.”

“Congress must immediately rein in the runaway spending, repeal the onerous regulations and taxation they’ve placed on small businesses, and provide incentives for small business growth,” continued Harmer. “That’s how you grow the economy, and that’s why I’m running for Congress.”

David Harmer is a lifelong Reagan Republican, and his father, John Harmer, served as California’s Lieutenant Governor under Ronald Reagan. Early in his career, David took his expertise in constitutional law to Pacific Legal Foundation, where he defended property rights and other freedoms in state and federal courts. David was also a Resident Fellow at the Heritage Foundation, and his book on education reform was published by the Cato Institute, America's foremost market-oriented public policy organization.

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Posted by jimf01
a resident of another community
on Sep 2, 2010 at 10:22 am

jimf01 is a registered user.

Jerry McNerney himself stated that unemployment approaches 24% in parts of his district. Those parts are probably east of the Altamont Pass, so not that any of the snooty liberals in Pleasanton would give a care.

Obama's departing economic adviser Christina Romer is leaving DC and heading back to Berkeley, but she has now proposed MORE stimulus and lower taxes as a way to get the economy moving. Great, lets print and borrow more money instead of common sense reforms to get real money sitting in banks and private hands moving through the economy.

These people do not get it. Period.

"Romer acknowledged that the Recovery Act failed to keep unemployment from rising above 8 percent, as she once predicted, but said the problem was that the recession got worse than anticipated before the stimulus had a chance to do its work"
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She still doesn't understand exactly why it was so bad. The response to the collapse was inadequate. And she doesn't have much of an idea about how to fix things.

What she did have was a binder full of scary descriptions and warnings, offered with a perma-smile and singsong delivery: "Terrible recession. . . . Incredibly searing. . . . Dramatically below trend. . . . Suffering terribly. . . . Risk of making high unemployment permanent. . . . Economic nightmare."
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Posted by Stephen
a resident of Del Prado
on Sep 2, 2010 at 3:59 pm

If Pelosi's brains were as big as her fake t........s she would be a genius. Didn't she say unemployment checks were the biggest stimulus to getting the economy going? Geezzzzzzzzzz

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