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Home › Forums › Financial Markets/Economics › If you get mad easily about Big Government wasting stimulus money…don’t read this… › CDMA ENG wrote:My mother is a

September 21, 2010 at 9:12 AM #608332
Coronita
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[quote=CDMA ENG]My mother is a hiring clerk at a school district in one of more depressed areas of the country. They just recieved 54 million dollars in stimulus with the provision that the money ONLY be spent to hire new workers and only for the minimuim required hours to count as a full time employee. If you are a current employee working less than full time that money can not be used to bring you to full time status.

All the money is to be spent this year. There is no money coming to retain those new hires past one year.

You can make your own assumptions here about the goverment and its reason for stimulus money…

Personally it makes me made… but for those who are working that one year I am sure it is a god-send.

CE[/quote]

The real sad part is once this stimulus is gone, we’re not going to be in any better shape from an economy/unemployment standpoint.

The issue with the ways these stimulus is being spent is they are short term, short sighted “fillers” to temporarily create jobs. These temporary jobs aren’t going to continue and the same people that benefited from them temporarily are going to find themselves back at square one.. It’s not creating something that is sustaining or something that can be carried into the future, something like spending on job training or retraining would be able to do.

After the money is spent, we’re going to be in no better shape, and the same people that couldn’t find work before these temp jobs were created are still not going to be able to find work after the temp jobs are done. Systematic failure, and it’s sad because the gap between skilled and unskilled people is going to grow even larger….

The way the stimulus is being spent is similar to how many households spend an unexpected bonus/windfall. Rather than taking that windfall and reinvesting in something that could make it grow, they spend it on something bling/temporary, and when it’s all said and done, what’s left is a poorer household….

These stimulus should have been applied to folks who were seeking retraining/schooling but otherwise couldn’t afford it. What a unbelievable waste.

Wait until the orgies stop, and we’ll see how much better things really are. Private sector tech/medical/legal/finance probably will be fine probably, though running leaner. Labor related is going to bite bigtime.