Jack Welch diss Obamas Stimulus Bill as "only politics, won't create jobs".

Jack Welch is one the most well respected business leaders. He is the former Chairman and CEO of General Electric. Here he tells CNN that TARP is 1000 times more important than the Stimulus Bill. The Stimulus Bill wont created jobs and is only about politics.

Senator Jon Kyl lists some of the pork that's included in the spending bill. Thousands of line items are found in this bill and most people think that Obama never even read the bill. He delegated the writing of the bill to Nancy Pelosi and her staff. She said the other day that "500 million americans lose their job every month", so perhaps she miscalculated the spending bill with a few zeroes.

Obama is trying to get the bill passed with only one vote margin. He is trying to exclude as many republicans as possible since only three of them were invited in negotiations.

The bill is estimated to provide 7 % of the total amount for infrastructure projects. Infrastructure is the part of the bill that is supposed to create most of the jobs. All jobs are only temporary and will only last between 1 month and 1 year.

Each job that is created will cost between $200.000 and $900.000 depending on several factors.

That could mean that a one month long job could cost $900.000 to create. In the private industry we don't call that spending, stimulus or investment, we call that insanity.

Obamas move may be due to inexperience, incompetence or an determined plan in spending as much money as possible in a desperate move to create results.

People speculate and think that Obama is trying to change Americe and is trying to introduce some type of socialism.

That may be the case, but its to early to tell. However another theory is that he may skip the socialism stage and go direct for the typical end result of socialism, the purposedriven destruction of the american economy. That is also to early to tell, put there is talk about another 5 trillion dollars worth of wasteful spending, and that would clearly be a disaster for the US economy.

Category:

News & Politics

Tags:

• Stimulus
• Bill
• Barack
• Obama
• Jack
• Welsh
• Senate
• Debate
• Senator
• Job
• Kyl
• James
• Inhofe
• Tom
• Coburn
• Bailout
• TARP

[jettbugg]

It is just amazing to sit here on the sidelines having to watch America, my country, being sold out at every turn and government throwing money after bad money, and they line their own pockets, nobody is accountable for the billions of dollars and where it went, so far, and the new-guy president is running the place by executive orders, like a dictator, when govt. should just stay out of the peoples way. All they get involved with is NEVER efficient at ANYTHING. Can U say Marx?

[terminaldeity]

You need to do a better job with your statistics. The "500 million" people losing jobs is impossible because that's almost twice the US population.

[terminaldeity]

I know that there are many new jobs in infrastructure available in my state (PA) under the new bill, so I don't see it as entirely wasteful. If you think Obama is introducing socialism or communism, you're politically retarded. It's straight Keynsian economics.

[garoad2]

Centrist role? Obama? HAHAHAHAHA Like he can control the Democrats, who aren't compromising AT ALL. Sure....