ugh. turns out it wasn t 3.8%, actually, it was 8.9%! that is not a typo. that s how fast the economy was shrinking. republicans look at this chain of events and say, see? well, the stimulus didn t work. everybody else looks a at these numbers and say the stimulus did something but given what we now know what we were up against, it s clear it was not enough. it s clear we actually did need that second round of stimulus the president was sort of pushing for in december of 2009 but not that hard. what we are seeing in the economy is the effect of not getting further stimulus. not only given that the economy has proven to be resiliently bad but way worse than we thought it was when we initially designed the things we were going to do to try to fix it. the hope it is not too late but time is up and we got to do something now. the people of this country work hard to meet their responsibilities.
half percent. it actually shrunk by 3.7%. ugh. turns out it wasn t 3.8%, actually, it was 8.9%! that is not a typo. that s how fast the economy was shrinking. republicans look at this chain of events and say, see? well, the stimulus didn t work. everybody else looks a at these numbers and say the stimulus did something but given what we now know what we were up against, it s clear it was not enough. it s clear we actually did need that second round of stimulus the president was sort of pushing for in december of 2009 but not that hard. what we are seeing in the economy is the effect of not getting further stimulus. not only given that the economy has proven to be resiliently bad but way worse than we thought it was when we initially designed the things we were going to do to try to fix it. the hope it is not too late but time is up and we got to do something now. the people of this country
whatever until the election? i don t think so. what the american people are wanting to see is an administration that will is willing to admit they made a mistake. their stimulus didn t work, 1.3 million additional americans have lost their jobs, since the stimulus. the jobs, the unemployment rate, has stayed well above the 9%, and, martha, what they want the president to say is, look, government intervention has not worked. let s try something different. and, what we have been saying is, lower your taxation rates, apply regulatory certainty, make certain that you are going to roll back some of these rules and regulations. so they know what is happening. martha: i have talked to some people, you know, in the market, and, they say they don t expect to see any big changes until 2012 in terms of what will motivate the market. so, the indicators are that nobody expects that the administration suddenly is going
manufacturing base and something that goes way back in our history here, creating middle class jobs for people, and yes it is a good time to celebrate accomplishments and revival of that industry. not only were we able to see more production come out of these of that industry, gm and chrysler and they pay back loans and they have more shifts ongoing, but creating vehicles that are energy efficient. we are creating new technology and lithium battery production and opening up other sources of support for new technology. these are the kinds of things that the american public can get behind. it is day for us to celebrate, working men and women that made sacrifices, that contribute to this country. but also we need to be reminded of all the people out there still looking for work, that get up every single day, looking for a job, having the door shut in their face. we have to do splg about it. the president cares. we care. and we ve got it make sure con guess supports the plans to create m
and as the secretary said, in the private sector, it s been so ever since. not enough. not enough. in fact, the other things the graphs show, is that as the stimulus fades, gdp and jobs fade as well. right. that s all the more reason why we have to go back to those measures. it is not that the stimulus didn t work, its that it faded too soon given the dep depths of problems. the very deep hole in the economy from the great recession. that s the lesson from those grass roots. really two-fold. . it worked and we need more of the same. secretary solis, the president and you will be in detroit on monday on labor day. detroit is a symbol of something that happened under this administration, that is the auto industry was brought back. is that why the president is choosing to speak in detroit on monday? you know, the president took some very bold steps in making some reinvestments there in the automobile industry. one of the corner stones of our