At a Council on Jobs and Competitiveness meeting today in Durham, N.C., President Barack Obama had a nice little chuckle about the lackluster results of the Recovery Act, better known as the stimulus.
While a member of the Council was explaining how federal permit process can delay construction and infrastructure projects by “months to years … and in many cases even cause projects to be abandoned,” Obama quipped: “Shovel-ready was not as … uh … shovel-ready as we expected.”
The Recovery Act was intended to prevent the jobless rate from going over 8 percent. It’s now at 9.1 percent.
http://www.youtube.com/watch?v=sVonk_OqEUU