The synopsis on the economy is bleak. Report after report rattle off depressing statistics of severely diminished economic activity, growing jobless rates, and worse statistics to follow into the year. It's a vicious cycle that only can only be broken by renewed confidence in the stability of our economy, most notably jobs.
In the waning days of George W. Bush's presidency there are now murmurs of attempts to disperse the second half of the nearly 3/4 trillion dollar TARP funds before President-elect, Barack Obama is sworn in. http://money.cnn.com/2009/01/10/news/economy/bush_request_restoftarp/index.htm?postversion=2009011012
In my opinion, the key component of the President-elect's economic stimulus plan are the jobs components. Jobs are what is needed to rebuild confidence and get people confident enough to resume their lives. The stimulus funds are not unlimited. Any further dispersing of the TARP funds needs to be specifically targeted and carefully monitored to ensure that our tax dollars are not being squandered by their recipients.
Right now too many Americans, even those gainfully employed, are severely afraid to do anything. The hemorrhaging of job losses needs to be cauterized. There has been a great deal of blood lost and the reserve supplies are low. Let's not deplete the blood bank on cosmetic celebrity surgeries while new patients are flooding the ER!
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