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EXAMINER: No Second Stimulus, Please. ?Be sure to thank the President and Congress. This week, wit?

By Glenn Reynolds

EXAMINER: No Second Stimulus, Please. “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.”

Full post as published by Instapundit.com on July 03, 2009 (boomark / email).