Pundits who are feeling the squeeze of this deep recession seem to be grasping at straws to say that the economy is showing signs of turning around. What are the indicators? Geithner stated that to aid the recovery the President will have to break his promise to the Middle Class not to raise taxes.

        We know for certain that raising taxes during the FDR depression of the 30’s deepened the depression, but it was necessary then to continue the Work Progress Administration that was spending taxpayer money for non permanent employment jobs, and doing more damage to the economy then did the water pouring into the gaping hole in the side of the Titanic. Are we facing another Titanic size depression?

        So what’s new? Where are the new jobs that will ultimately be necessary for the economy to be self-sustaining? We know that since President Obama signed the stimulus bill, 1 million more workers lost their jobs. If the unemployment continues, eventually the cost to the taxpayers will be unsustainable. There is already talk in Congress about extending the unemployment benefits, so where is the recovery? Can there actually be a jobless recovery? Many doubt it.

        Alabama counties prepare for a government shutdown. The economy fell twice as fast and as deep as expected. Hopefully all the talk about signs of recovery will be more accurate, but I still have to ask where the permanent jobs are. Would the environmentalists support reopening the steel mills in Gary, Indiana, or the cement plants in California to stimulate the economy? I think not.

        The U.S. Dollar is at a new low. Regulators shut down banks in New Jersey, Ohio, and Florida. The Gross Domestic Product is in negative numbers, which means the economy is not growing but is retracting. In the past week the stock market index has risen, but it did so quite often during the FDR administration, like a yo-yo on a string. And if the stock market has taught us anything, it causes depressions it doesn’t fix them.

        Home prices are still falling nationwide. Credit card debt is increasing because instead of wealth creating jobs, consumers are still increasing debt to survive. Even NPR is reporting that the Federal Reserve will have to raise interest rates. This can not be good for the economy. Between Jan and April of 2009 the economy fell 6.4%. Greenspan expects the job loss to continue although at a slower rate, which is like saying that the economy has been raped and is now only slightly pregnant and the swelling has slowed down.

        Although it has been reported that only a small percentage of the $787 billion stimulus package has been spent, the Democrats are asking for an additional $88 billion. This doesn’t sound like they expect an economic recovery any time soon.

        Some Democrats want to extend subsidies to the unemployed in the amount of 65% of the cost of healthcare while they remain unemployed. This doesn’t sound like those Democrats believe that the unemployed will be returning to jobs that provide medical coverage. They would be high-paying jobs, not jobs at McDonalds or part-time jobs at Wall Mart.

        The definitive word on the subject comes from Rep. Maxine Waters, D-Calif. Who said, “It does not appear that there is any real hope in sight for new job creation and for jobs for the people that need them perhaps the most.