Obama Admits Massive Stimulus Was A Failure: "Shovel-Ready Was Not as Shovel-Ready as We Expected" (VIDEO)
It was explained to Obama that the permitting process can delay projects for "months to years ... and in many cases even cause projects to be abandoned ... I'm sure that when you implemented the Recovery Act your staff briefed you on many of these challenges." At this point, Obama smiled and interjected, "Shovel-ready was not as ... uh .. shovel-ready as we expected." The Council, led by GE's Jeffrey Immelt, erupted in laughter.
"He's a couple of years behind the rest of America," said Brendan Buck, a spokesman for House Speaker John Boehner, R-Ohio. "But it's refreshing that the president himself is now acknowledging the failure of his stimulus program."
Featured comments - First from Josie
"Jobs Council?" WTF!!??
How much money are we (the taxpayers) spending for this vacation/boondoggle for these puppets. And Immelt laughs as the economy tanks with TRILLIONS in direct and indirect government stimulus, joblessness gets worse even after the Fed liquifies the corporations and banks (where is the f^^king money, boys?).
GE pays no taxes; GE Capital is an over-leveraged black box of shite, and Jeff takes home $50-$75 million per year...???
Another boner for Boehner. He voted for the $168 billion Bush stimulus.
Maybe Boehner can explain why a $168 billion stimulus is good but a $787 billion stimulus is bad. The Wall Street imbeciles in D.C. understand one thing clearly: fool the mouth-breathers who gather their "news" from TV alone and you're home-free. What a horror show this country has become.
The Deficit President should have spent the money on the issues raised by the following story: