Second stimulus. “We’ll do whatever it takes”

Its hard to keep up with all the news in real time.

On July 3rd the Washington Examiner published an editorial in which they mention the loss of nearly 2 million jobs since the economic stimulus package was approved. How do you spell failure? Simple. You hire spin merchants to create clever sound bites such as “we would have lost many more jobs if we hadn’t approved the original stimulus.” OK brain trust. What’s our plan “B”?

Easy. Spend, spend, spend. We will worry about the source of those funds later. We can always tax the rich. If they object, where will they go? Need I remind you that “I won.”

Following is the opening two paragraphs of the Examiner Editorial along with the full story link below.

No second stimulus, please

By: Examiner Editorial

Be sure to thank the President and Congress. This week, with news of some 467,000 jobs lost in June, the Bureau of Labor Statistics estimates that the U.S. has now lost about two million jobs since the economic stimulus package passed. Even more notable is that the average workweek has been slashed to 33 hours the lowest number on record. When the President signed his $787 billion stimulus package into law, he confidently asserted that unemployment would not exceed eight percent. If Congress hadn’t passed it, he warned, it would rise to nine percent by 2010. Well, unemployment reached 9.5 percent last month, meaning, by the President’s own logic, that his stimulus package has failed.

If you listen to Obama, however, whatever jobs weren’t lost were either “saved or created” by the stimulus. In other words, credit for whatever hasn’t gone wrong goes to the Obama administration and its Democratic allies who control Congress. Which is why we have already started to hear hints of a second stimulus package on the way. On CNBC Thursday, White House economic advisor Christina Romer answered the question of whether there would be a second stimulus with: “We’ll do whatever it takes.”

Questions for Juice readers.

As we read of the number of jobs lost and created, were you one of those impacted?

If so, have you found a new job yet?

If you have a “new” job, is the compensation and benefits the same, more, or less than the job you lost?

If you are still without a job how long have you been among the unemployed?

Was you job outsourced to a foreign country?

About Larry Gilbert