“I know Larry Summers is a pig thief and was one of the evil artist in creating our economic depression but is he that stupid to come out with a statement like this one… say it ain’t so bottom feeding parasite? Oh, just kidding Larry, all the informed American people just love that cute little face of yours.”
-Fred Face 7/18/09
Is this man “foaming at the mouth mad” to have made such a stupid statement?
With mortgage defaults cascading their way through the economy?
Larry, that statement makes it apparent that you don’t get out much.
You really need to talk to those business owners in depressed areas which have had to close their doors as the economic misery the last and present administrations have left them with has made it impossible for them to continue to do business.
Talk to the single working moms who had their high-paying jobs shipped overseas, working twice as hard for half the money, desperately trying to keep their families together.
Talk to the still-unemployed, skilled people who have worked all their lives, want to work, who can barely find jobs as gas station attendants.
It is only then that you might, possibly (if you are, in fact capable of a rare moment of intellectual honesty) understand just how catastrophically, non-plugged in, inane and insulting that statement was to hurting American workers, those employed, and those who are desperately trying to find work in this economy.
Finally The Story:
By EAMON JAVERS
Of all the statistics pouring into the White House every day, top economic adviser Larry Summers highlighted one Friday to make his case that theeconomic free-fallhas ended.
Searches for the term were up four-fold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told the Peterson Institute for International Economics.
Summers continued the administration’s push-back against critics of President Barack Obama’s handling of the recession, defending theeconomic stimulus packageagainstRepublicanswho have tried to paint the program as a failure because it hasn’t stemmed the unemployment rate.
“We pledged at the time the Recovery Act became law that some of the spending and tax effects would begin almost immediately.,” Summers said in prepared remarks. “We also noted that the impact of the Recovery Act would build up over time, peaking during 2010 with about 70 percent of the total stimulus provided in the first 18 months. Now, five months after the passage, we are on track to meet that timeline. “
Summers rattled off a list of accomplishments of thestimulus package:
“More than $43 billion in immediate tax relief has reachedand businesses. Another $64 billion has been channeled into the economy through aid to state and local governments, expansions in social programs, and spending on education,, and transportation projects. In addition to the amount that has already been paid out, another $120 billion in spending has been obligated by the federal government and is on track to begin working its way into the economy.”