So, President Obama decided to stop by Elkhart, Ind., for a little chat. Obama had been to the city in February to promote his stimulus plan. Evidently, it was time to pay another visit to the “Unemployment Capital”– no pun intended.
All humor – or attempts thereof – aside, the latest unemployment reports show joblessness in Elkhart is well over 15%, one of the highest rates in the nation. This time, President Obama comes with money.
The Associated Press reported, “Venturing back to a region reeling in deep unemployment, President Barack Obama's latest mission in Indiana is to show that the costly stimulus plan he lobbied for is producing tangible help – $2.4 billion in taxpayer grants to create electric cars and tens of thousands of jobs.”
Obviously, Obama is journeying over to Elkhart to administer hope to the hurting. But, with economists predicting a “jobless recovery,” that will be difficult. The people of Elkhart are looking for jobs, not jargon or grants.
One unemployed salesman told the IndyStar that he was not impressed with the grants that Obama came announcing.
Obama says that his grants will create jobs. The $2.4 billion that he announced today, which will be matched by the grant recipients, is to help produce better electric cars.
According to the IndyStar, the money will fund 48 projects in 25 states. And, the good news for Indiana residents is that their state will be the second-largest recipient, receiving 7 of the projects. Michigan is getting 11 grants, making it the largest recipient.
Hopefully, for the whole nation, these grants for electric cars will work the way the government intends and help flip the switch back on for the economy. It’s not just Elkhart, Ind.; the whole nation is suffering – especially from joblessness.
Private business layoffs for June dropped less than expected. On top of that, Reuters reported, “U.S. firms planned to increase layoffs in July for the first time in six months.”
Economists may be correct in predicting a jobless recovery. It will certainly take a while for jobs to be back on track. Thus, Obama has gone down to Indiana to “rally the people.”
As the AssociatedPress put it, “As Congress breaks for the summer, the public message war is on. Obama wants to persuade Americans that his economic agenda is working but also remind them it will take time to produce the numbers that people really want: more jobs.”
Survive the Great Fleecing of 2010 AD (That’s After Dollar)
The government’s plan to balance the books will destroy the wealth of 99.9% of all Americans. But we have nine rebels who can show you how NOT to be one of them...
Learn how to survive - and thrive - in Finding Wealth in the Post-Dollar World, Taipan Publishing Group’s CD of unique wealth-building strategies designed to help you to post gains - even 69 times your money - during these rough economic times. Find out how to bank your money here.
Other Articles Related To This Topic:
