Will the stimulus bill actually results in millions of new jobs?

I would love to be wrong on this one.

After the economy was hit by the financial crisis and the government declared that the country is in recession, many faced layoffs and foreclosures. No one should be blame but ourselves why the economy declined. Irresponsible lending habit is one reason they think why our economy crashed down. There's a lot of press coverage dedicated to a credit crunch. Well, there is one - banks are less willing to lend to anyone, meaning there is a credit crunch, and so if you need some short term credit, banks will be less willing to help you out. There are a lot of job losses, and that means not everyone can pay them back. Well, there are other options - you could look into payday loans. Payday loans are short term loans for small amounts that you pay back quickly, usually your next payday. Some lenders can use direct deposit - that's one of the payday loan benefits - so if you feel the credit crunch, try filling out a personal loan application.

http://personalmoneystore.com/moneyblog/2009/05/07/payday-loans-beat-credit-crunch/

Part-Time Workers Mask Unemployment Woes
http://www.nytimes.com/2009/07/15/business/economy/15leonhardt.html?_r=1&hp
In California and a handful of other states, one out of every five people who would like to be working full time is not now doing so.

It is a startling sign of the pain that the Great Recession is inflicting, and it is largely missed by the official, oft-repeated statistics on unemployment. The national unemployment rate has risen to 9.5 percent, the highest level in more than a quarter-century. Yet it still excludes all those who have given up looking for a job and those part-time workers who want to be working full time.

nclude them — as the Labor Department does when calculating its broadest measure of the job market — and the rate reached 23.5 percent in Oregon this spring, according to a New York Times analysis of state-by-state data. It was 21.5 percent in both Michigan and Rhode Island and 20.3 percent in California. In Tennessee, Nevada and several other states that have relied heavily on manufacturing or housing, the rate was just under 20 percent this spring and may have since surpassed it.

Almost nobody believes that unemployment has finished rising, either. On Tuesday, President Obama said he expected it to “tick up for several months.”
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he did it on purpose. he's trying to create more jobs in the teleprompter industry. :O)


WASHINGTON -- President Barack Obama had just started a spirited defense of his economic stimulus plan on Monday when one of his teleprompter screens came loose, crashed to the floor and shattered into pieces.

http://www.foxnews.com/politics/2009/07/13/whoops-obamas-teleprompter-breaks-mid-speech/

Do you really think the unemployment rate will drop to <7.6% by Dec??
I think somebody is not reading the question carefully. It asks "will it be down from the corresponding month last year?" no down from the month before!

Update unemployment rates for 2009:
February 8.1
March 8.5
April 8.9
May 9.4
June 9.5
July 9.4
Data for August on September 4th.
The biggest unemployment rate in 2008 was 7.2% in December 2008. The question seems to ask for improved unemployment rate not just a decrease in number of unemployed. Consistent with the background this should be the acceptation of "unemployment numbers".
An drop in unemployment rate to 7.1% in December 2009 looks impossible at the moment. Probably we won't see this level of unemployment in the next years.

Nobailatol - for ED
http://www.youtube.com/watch?v=s0vvQF2-InU

Obama Econ Guru Predicts High Unemployment For Years
http://www.aim.org/don-irvine-blog/obama-econ-guru-predicts-high-unemployment-for-years/

...

That may be true but it was the president that promised that he needed the stimulus to prevent unemployment from topping 9%. We are well past that point with predictions that have the unemployment rate peaking at a whopping 10.2% and doesn't include the millions of discouraged workers. When the only evidence Obama and Summers can point to for an improving economy is that the pace of job losses are diminishing that isn't exactly a receipe for success.

Consumer confidence may be increasing but consumers still haven't opened their wallets as freely as they did in the boom years which will continue to be a drag on the economy. Also don't forget the near record foreclosure rate which the president conveniently left out of his speech on Wednesday when he discussed the economy. This too won't be fixed overnight and will slow any economic recovery.

Obama and the Democrats seem to be convinced that spending massive amounts of taxpayer dollars will bring the economy back given enough time. At the pace we are going though how much more time can the American public afford?
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That may be true but it was the president that promised that he needed the stimulus to prevent unemployment from topping 9% obama said 8%! :O)

So, "Are you better off today than you were $4,000,000,000,000 ago?"

As one of the many people looking for a job right now due to lay offs or whatever all I hope is that something happens soon. Who cares why or how there are alot of families lives at stake here. We were promised so much with nothing in return. Empty promises mean nothing to those who are trying to support and raise their family.The American people can't afford any more time to be spent on this topic ACTION is required!!!!!