“Economic Stimulus” Doesn’t Include American Jobs

The big news this morning is that, in order to help inject “confidence” into the economic outlook, the Fed is offering a $200 billion plan for increased liquidity. Of course, most of this help goes to mortgage lenders who got into trouble with their subprime lending practices.
The move is par for the course in terms of the numerous efforts in recent months to produce “economic stimulus.” And while “economic stimulus” includes tax rebates, mortgage rate freezes and modifying home loan terms, one thing it doesn’t include is American jobs.
The Pentagon just announced that instead of awarding a tanker contract to …read more