Trillions and trillions worth of economic stimulus over four years, and the best our economy can provide is an 8.2% unemployment rate.
Economist Alan Tonelson, a research fellow at the U.S. Business & Industrial Council Educational Foundation, says the reason the various stimulous plans haven’t worked is because there’s “a big hole in the bucket.”
When the government puts more money into the hands of consumers, they spend it on foreign-made goods, and the jobs are created somewhere else.
Tonelson also explains why the private sector has been actually creating fewer jobs than advertised.
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