Question by Sheriff Joe: Will “The Summer of Recovery” go down in history as one of the worst PR disasters of all time?
I have a feeling that “The Summer of Recovery” will be one of those periods of time that they teach about in 11th Grade US History 2 books. What will historians write about the Summer of Recovery?
http://www.politico.com/news/stories/0610/38654.html
June 17- Obama and Biden announce the “Summer of Recovery
Vice President Joe Biden today will kick off the Obama administration’s “Recovery Summer,” a six-week-long push designed to highlight the jobs accompanying a surge in stimulus-funded projects to improve highways, parks, drinking water and other public works.
http://www.idahostatesman.com/2010/08/26/1315510/summer-of-recovery-or-double-dip.html
Businesses are ordering fewer goods. Home sales are the slowest in decades. Jobs are scarce, and unemployment claims are rising. Perhaps most worrisome, manufacturing activity, which had been one of the economy’s few bright spots, is faltering.
“The odds of a double-dip are rising and uncomfortably high,” said Mark Zandi, chief economist at Moody’s Analytics, referring to the possibility that the nation will tip back into recession.
On Wednesday, the government said companies cut back last month on their investments in equipment and machines. And Americans bought new homes at the weakest pace in nearly half a century.
Earlier this week came news that sales of previously occupied homes fell last month to the lowest level in decades. Unemployment remains near double digits because job growth in the private sector has slowed.
Read more: http://www.idahostatesman.com/2010/08/26/1315510/summer-of-recovery-or-double-dip.html#ixzz0xnfDdlro
In what will rank as one of the all-time presidential P.R. disasters, we’re now well over half way through what the White House called “the summer of recovery.” And what a recovery it’s been.
Earlier this month, first-time claims for unemployment hit a nine-month high. The unemployment rate remains at 9.5% and 18.4% of workers are out of a job, can only get part-time work, or have given up looking for a job altogether. Sales of existing homes dropped 27% from June to July, hitting the lowest point since data were first collected in 1999. The Conference Board’s Consumer Confidence Index fell to 50.4 in July, continuing a slide that started in February. And the stock market is down 11% from its peak in April.
http://www.foxnews.com/opinion/2010/08/26/karl-rove-obama-white-house-summer-recovery-unemployment-credibility/
Best answer:
Answer by PaRtY 2010 -s’long Barry
As the Summer that Never Was
What do you think? Answer below!
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