"Recovery Summer"

[spence]

I think you're confusing the defect with "stimulus" spending. The actual stimulus package was around 700B over two years. Most of the defect in 2009 was inherited, had McCain been elected it would have been nearly or just as big.

Post a link or check your facts
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[scottw]

Quote:

Most of the defect in 2009 was inherited, had McCain been elected it would have been nearly or just as big.

Post a link or check your facts
-spence



the deficit jumped from about $450 billion in 2008 to $1.4 trillion in 2009.

Obama pushed through both an “omnibus” spending bill and the so-called stimulus bill that increased FY2009 spending.

McCain calls on Obama to veto omnibus - "We fought a good fight," Sen. John McCain (R-Ariz.) said on Sunday, conceding that the $410 billion omnibus bill is likely to pass the Senate early next week, but calling on President Obama to veto it.


February 8, 2009
McCain: Stimulus Bill Is "Generational Theft"By Michelle Levi In his sixty-eighth appearance on Face The Nation, Senator John McCain called the stimulus bill heading towards a Senate vote this week "generational theft," and said he could not support the package as-is because of the debt it would create for America.

When asked by host Bob Schieffer if he would support the stimulus plan, the senator replied, "I can't Bob. I can't because I think it is the greatest transfer of not only spending but authority and responsibility to government."





how's that "American Recovery and Renewal" or whatever they called it...working out?????

Jun 22, 5:57 PM (ET)

By PAUL WISEMAN and MARTIN CRUTSINGER

WASHINGTON (AP) - The economy's continuing struggles aren't just confounding ordinary Americans. They've also stumped the head of the Federal Reserve.

Fed Chairman Ben Bernanke told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.

"We don't have a precise read on why this slower pace of growth is persisting," Bernanke said. He said the weak housing market and problems in the banking system might be "more persistent than we thought."

It was the Fed chief's most explicit warning yet that the economy will face serious challenges next year. For several months, he had said the factors working against economic growth appeared to be "transitory."


The Fed cut its forecast for economic growth this year to a range of 2.7 percent to 2.9 percent from an April forecast of 3.1 percent to 3.3 percent. It also cut its forecast for next year to a range of 3.3 percent to 3.7 percent from an earlier 3.5 percent to 4.2 percent. The Fed also said unemployment would stay higher than it had expected earlier.


I'm sure Obama is "playing this one perfectly" right Spence???