Stimulus Report Card

October 31, 2009 9:23:20 PM PDT
The first report card on the President's three quarters of a trillion dollar stimulus bill is out. The administration claims 650 thousand jobs have been saved or created with the 159 billion already spent.

In his weekly address President Obama said the stimulus has put the economy back on its feet: "These investments aren't just helping us recover in the short term, they're helping to lay a new foundation for lasting prosperity in the long term."

While much of the money has been used for infrastructure projects some governors including California's Arnold Schwarzenegger say the federal dollars have allowed states to avoid budgets cuts in areas such as education. But despite federal spending the nation's unemployment rate is nine point eight percent and continues to rise as many Americans are losing their jobs and are not able to find another.

The administration touted the stimulus and programs including cash for clunkers as ways to get the country out of the recession, but in the Republican's weekly address House Minority Leader John Boehner called the President's policies a waste of tax money that will only add to the booming one trillion dollar budget deficit.

Rep. John Boehner (R) House Minority Leader said: "The 'stimulus' bill isn't working. Unemployment is rising. The debt to be paid by our kids and grandkids is exploding."

Despite the criticism the white house says the stimulus is on track to reach the President's goal of creating or saving more than 3,000,000 jobs by the end of 2010.

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