Fed Survey: The Economy is Mending

Wendya9/09/2009 12:01:02 pm PDT

re: #35 Locker

Waiting for the numerous replies claiming the following:

1. We aren’t really in recovery
2. Obama administration didn’t do anything to aid the recovery, it happened in spite of yadda yadda
3. The stimulus didn’t help and is/was a failure
4. Obama PROMISED!!! that unemployment wouldn’t go over 10 percent and that was the ONLY reason the stimulus was passed. FAIL!

Perhaps I’ll be wrong. That would be wonderful.

I don’t know if we are in a recovery or not. Let’s see the GDP data for the next two quarters before we throw on our party hats.

As for the stimulus, I really haven’t seen any indication that it’s had an impact on the economy either way. What percentage has been released to date? It certainly isn’t driving the private sector.

The CBO estimates the unemployment rate will continue to increase each month to 10.2% next year. I imagine that’s a fairly conservative estimate. With a “real” unemployment rate of closer to 16%, there isn’t going to be much positive public sentiment when the government declares the recession is over.