You can call Obama’s new plan a stimulus or an infrastructure expansion; it still won’t have any impact on job creation. Here is the evidence that the previous effort to create jobs failed big time:
To date, $275 billion has been reported spent in grants, contracts, and loans through the stimulus bill, and yet unemployment has not decreased. In fact, the latest data from the Bureau of Labor statistics shows a slight increase in the unemployment rate from 9.5 percent in July to 9.6 percent in August. This rate is much higher than the 8.8 percent unemployment rate that the administration expected the country would face if it did not pass the gigantic spending bill.