Plan to speed federal spending good kick-start - Business First of Columbus:

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Regardless of the the difficulties Americans suffered during such periods have beensimilar — job losses, slow to negativ production growth and consumer wariness. Each recessiob has had its own and myriad actions have been attempted to securs a returnto normalcy. Since World War II, our natiomn has endured around adozen recessions, with an average length of arounxd 14 months. The current recession, which begah in December 2007, has surpassed that time framde by somefour months, and the end is stillo likely a few months away. The economic turmoil in Americsa is impossible to ignore as dailg headlines and newscasts present the dismal picture infull color.
The nation’s econom has shrunk for three consecutive quarters and approximatelgy 5 million jobs have been lost over the past 16 morethan 1.6 million of those since February. That tota number far exceeds the 1.6 million total employmenty drop inthe 1990-1991 recession and the 2.7 million durin g the 2001 recession beforr those economies turned around. Even though job losses have slowed slightlyt inrecent weeks, unemployment levels have stil reached 9.4 percent, the highest level in more than a quartee century. Signs of improvement (or at least declinese at a slower rate indicatingproximate recovery) are now appearinb in a number of statistics.
Moreover, consume r sentiment is on the rise, and most people remain confident that actions being taken to cure our economic ills will eventuallyy reap the desired A recent Gallup Poll noted thatthe “consumee mood” has become more positive since March. The decisioh announced by President Barack Obama this week to deliveerapproximately 600,000 jobs during the summedr will undoubtedly be received as encouraginvg and perhaps further enhance consumers’ optimism.
The President’e pledge to speed up federa l spending for various endeavorss includes monies for maintenance projects atmilitarty bases, as well as stats road and airport improvements, along with the employmen t of around 135,000 school teachers and supporf staff. This decision is expected to kick start the flow of moneu intostate coffers. Since the bette summer weather is normally consideresd optimum for expanding public construction state agencies had alreadhy beensubmitting applications.
With the news that money will now becomee more readily available for funneling to these kinddof endeavors, greater opportunities for slowing the economicc decline have now entered the It will, of course, take time to see what developsw and how these actions will mesh with other evente occurring in the U.S. and the It is always a challenges to implement the proper safeguards for using publi c funds while trying to expedite their but this effort is certainly a step in therightf direction.