QE3

Drudge headlines

Fed looks to 50-year-old trick to shore up economy...
GOP urges no further stimulus spending...

Here is the trick explained:

No tricks, we need jobs. Didn’t Rick Perry warn the fed about campaign tricks to try and help Obama in 2012? How about this trick, is it ok with you Gov Perry? Looks a little bit fishy to me, the Bernake trying to lower interest rates again. People need jobs and secure jobs, not the fed’s lousy tricks.

Where Did The Money Go: 1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus

Twenty-eight months after Congress passed President Obama’s signature economic stimulus law, and nearly one year after he declared the summer of 2010 to be “Recovery Summer,” 1.9 million fewer people are employed.

In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 – the last month for which data are available – that number had fallen to 139.8 million, a difference of 1.9 million.

While the number of people with jobs has increased slightly from its low point during the recession – 137.9 million in December 2009 – those 1.9 million jobs have been lost despite $800 billion in stimulus spending.

CNSNews.com

Tax Cheats Get $24 Billion In Stimulus Funds

Companies, contractors and other interest groups. In other words, an Obama money laundering scheme to rebuild the Democrat party.

At least 3,700 recipients of federal stimulus funds worth more than $24 billion owe the government upwards of $750 million in unpaid federal taxes, a report from the Government Accountability Office found.

Nearly 5% of the 80,000 contractors and other companies that received funds from the stimulus package the government passed in February 2009 have unpaid taxes totaling at least $750 million, GAO said in a report requested by Senators Tom Coburn (R. Okla.), Carl Levin (D. Mich.), Charles Grassley (R., Iowa), Max Baucus (D., Mont.) and Orrin Hatch (R., Utah) for release at a Tuesday hearing of the Senate Permanent Subcommittee on Investigations.

Among 15 examples highlighted in the report, a construction company that received more than $1 million in stimulus funds did not pay around $757,000 to the Internal Revenue Service, largely through payroll taxes withheld from employees but never sent to the government. At the same time, its chief executive had “hundreds of thousands of dollars in casino transactions,” according to the report.

More here: