It should also be noted that 'official' unemployment figures ignore the completely disenfranchised who do not 'qualify.'
Myth 1: Stimulus spending can jump start the economy and fix unemployment.
- Since the enactment of the stimulus bill in February 2009, the unemployment rate has not approached pre-American Recovery and Reinvestment Act (ARRA) levels, even though $382 billion has been made available by government departments and agencies (on top of tax credits and other tax-related items).
- In fact, unemployment recently edged up, from 9 percent in April to 9.1 percent in May.
Myth 2: Additional infrastructure spending is an effective way to stimulate the economy and create jobs.
politicians rarely include infrastructure spending in stimulus bills.
- Instead, they spend money on items like transfers and tax cuts.
Read more at www.ncpa.org
- Only 3 percent of the last stimulus went to infrastructure.