Letter to the Editor – Paul Caven

I would like to comment on the article by Congressman Sam Graves dated Sept. 9 entitled "Keeping focus on job growth." He tell us what we already know about the jobless rate. What he doesn’t say is what economists have said from day one of this recession, that the last phase of recovery is job creation.

He also doesn’t mention that although unemployment is high the rate of jobs lost has declined in recent months.

He tells us "The ‘economic stimulus’ is not working. Its focus on big, slow bureaucratic spending has failed to revive the economy." The ‘economic stimulus’ IS working, and it’s working here in Missouri. The very first stimulus project was $8.5 million for the Tuscumbia bridge project. $830 million of stimulus money is coming to Missouri.

The Wall Street Journal reports "Economists say the money out the door — combined with the expectation of additional funds flowing soon — is fueling growth above where it would have been without any government action. Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third quarters, when measured at an annual rate. The impact in the second quarter, calculated by analyzing how the extra funds flowing into the economy boost consumption, investment and spending, helped slow the rate of decline and will lay the groundwork for positive growth in the third quarter — something that seemed almost implausible just a few months ago."

The stock market is up, which is the first phase of recovery. We have already earned billions of dollars in interest from the banks who have paid off their bail out money with much more to come. The housing market is improving. New construction is up. Consumer spending is up. All of the initial indicators point to the fact that we are indeed heading out of the recession and into recovery. No, we are not there yet. Yes, it is going to take time before people get back to work. But we are going in the right direction.

So as much as Rush Limbaugh would like to see President Obama fail I pray that he succeeds for the betterment of all Americans.

Paul Caven, Gallatin