Tuesday, Jul. 14, 2009: By Stephen Gandel
The $787 billion stimulus plan is turning out to be far less stimulating than its architects expected.
Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn’t quite worked out that way. Last month,… Continue reading
Wednesday, Jul. 15, 2009: By Sean Gregory
During these dog days of summer, the nation’s department stores are still cold. According to the retail-sales statistics released by the Commerce Department on July 14, June department store sales dipped 1.3% compared to sales in May of this year, and were down 9.4% compared with June of 2008. So to prop up sales before the back-to-school season, one major player is asking … Continue reading
July 15, 2009: By Newt Gingrich
News on the economic front has not been good.
When campaigning for his economic stimulus bill this past winter, President Obama and his allies in Congress promised the bill would prevent unemployment from exceeding 8%. Last month, we reached 9.5% unemployment and President Obama conceded it will likely reach 10%.
Worse, the huge increase in our money supply and the mountains of debt being racked up by the Federal Reserve create … Continue reading
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