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Kokomo - A stimulus success

PostPosted: Thu Nov 18, 2010 1:49 pm
by backstagedee
http://www.wsbt.com/news/wsbt-report-ob ... 9371.story

http://money.cnn.com/2010/10/18/news/ec ... /index.htm

KOKOMO, Ind. (CNNMoney.com) -- Kokomo is going back to work.

A year and a half ago the fate of this car town, home to four Chrysler plants and a Delphi facility, was as uncertain as the American auto industry itself.

753Email Print CommentNow, thanks largely to the federal government, the town's unemployment rate has gone from over 20% to under 14%.

Economists disagree over the real nationwide impact of the massive stimulus jolt orchestrated by President Obama. But here in Kokomo, the Recovery Act and Obama's auto bailout have jolted Kokomo back to life -- keeping big industry from fleeing and attracting newcomers as well.

Re: Kokomo - A stimulus success

PostPosted: Thu Nov 18, 2010 7:05 pm
by John Q Public
Just heard on the news that President Obama & VP Biden are coming back to Indiana to visit Kokomo for a chest beating session in front of the media.

The old saying goes, even a blind squirrel can find an acorn once in a while.

Let's also talk about the wide misses that this program has had.

Re: Kokomo - A stimulus success

PostPosted: Fri Nov 19, 2010 6:51 am
by bob_rx2000
A huge success indeed - unemployment dropped by 6% to be only 5% above the nation's average. However, let us also ask the question, in the spirit of Mark Twain, how that number was calculated? Unemployment can be tricky because it measures only those who are actively seeking jobs. If you've left the area, if you have just given up and aren't looking any more, you're not "unemployed". As Mr. Twain remarked "there are lies, d**mned lies, and statistics."

Re: Kokomo - A stimulus success

PostPosted: Mon Dec 06, 2010 1:42 pm
by lionsshare
bob_rx2000 wrote:A huge success indeed - unemployment dropped by 6% to be only 5% above the nation's average. However, let us also ask the question, in the spirit of Mark Twain, how that number was calculated? Unemployment can be tricky because it measures only those who are actively seeking jobs. If you've left the area, if you have just given up and aren't looking any more, you're not "unemployed". As Mr. Twain remarked "there are lies, d**mned lies, and statistics."


:clap: Yes!! someone else gets it!!

It is for this reason that I don't really take the unemployment stats seriously. They can be skewed by so many factors. For instance, I know people that are nearing retirement that decided to retire early because they couldn't find work. Would anyone consider this a true drop in unemployment, much less a success for the stimulus?

Anyhow, my $0.02 - and it's worth about that much :D