CNS News reported today that 1.9 million fewer Americans have jobs today than had jobs before the stimulus law was signed.
The article reports:
"In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 - the last month for which data are available - that number had fallen to 139.8 million, a difference of 1.9 million.
"While the number of people with jobs has increased slightly from its low point during the recession - 137.9 million in December 2009 - those 1.9 million jobs have been lost despite $800 billion in stimulus spending."
That is an awful lot of money spent on a program that didn't get the intended result. Former White House chief economist Larry Summers reported in a Washington Post op-ed recently that the percentage of the population that has jobs has not improved--in fact it has fallen from 60.3 percent in February 2009 to 58.4 percent in May 2011.
As I have stated previously, I did not watch the Republican debate last night. I am on vacation, and the time difference is totally confusing my news consumption. However, I heard enough sound bites from the debate to know that the Republicans have valid plans to create jobs and turn the economy around. The excessive regulations--those regulations already passed and those regulations that companies fear will be passed--have put a damper on economic growth during the past two years. We need to end overregulation and create a balance between total chaos and overregulation for the future. I believe that any one of the Republican candidates currently running for President will aim in that direction. As a country, we cannot afford four more years of President Barack Obama.
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