AP: Obama's Spending on Roads & Bridges Did Nothing to Curb Unemployment
How this report slipped by the editor’s desk we will never know.
The AP reported this morning that the billions of government dollars that were spent on road projects and bridges did nothing to curb unemployment as Obama and democrats had promised.
But it did add to the national deficit.
The unemployment rate has spiked to 10% since President Obama took office despite his promise that it would not rise about 8%.
Ten months into President Barack Obama’s first economic stimulus plan, a surge in spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an Associated Press analysis has found.
Spend a lot or spend nothing at all, it didn’t matter, the AP analysis showed: Local unemployment rates rose and fell regardless of how much stimulus money Washington poured out for transportation, raising questions about Obama’s argument that more road money would address an “urgent need to accelerate job growth.”
Obama wants a second stimulus bill from Congress that relies in part on more road and bridge spending, projects the president said are “at the heart of our effort to accelerate job growth.”
Construction spending would be a key part of the Jobs for Main Street Act, a $75 billion second stimulus to revive the nation’s lethargic unemployment rate and improve the dismal job market for construction workers. The House approved the bill 217-212 last month after House Speaker Nancy Pelosi, D-Calif., worked the floor for an hour; the Senate is expected to consider it later in January.
Now democrats want to do it again.