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All month Turner Classic Movies will be showing movies with depression-era themes. In "My Man Godfrey" (MGM, 1935), cynical referrals are made to the popular slogan of that era: "Prosperity is right around the corner." It is much of what we hear from the White House today when they refer to the bright signs from Wall Street, and the fact that not as many Americans are now losing jobs.
With the 2010 elections staring the House and Senate in the face, we are now seeing the panicky comments about unemployment from our reps. given at every opportunity to the media... whether it is the topic of interest at the moment or not. Take our trusted Charlie Rangel. All of a sudden, he is interested in the unemployed in this country...'we need to do something for the unemployed'..."code words" for the second stimulus.
Extending unemployment benefits seems appropriate considering these same workers paid into unemployment benefits for many years. These extensions will be paid by extending a federal unemployment tax. Still, the extensions will cost over 25 billion. Yet, this is just a drop in the bucket. The other domestic bills being considered by Pelosi are astronomical in their detail,depth,and cost.My Way News reports: "Rep. Dave Camp, D-Mich., the top Republican on the Ways and Means Committee, said: "The fact that they're putting forward all of these things is really an indication that the stimulus was a failure. It didn't work." That probably says it best. After all, "prosperity is just around the corner", and while we contemplate that, we can think of all the jobs saved by the "first stimulus".