Posted by: arnegrim | June 16, 2010

Federal Stimulus? More proof…

that the government can’t buy its way out of the ‘recession’.

“Home construction plunged last month and building permits also fell, the latest signs that the construction industry won’t fuel the economic recovery.

Builders are scaling back now that government incentives have expired. The biggest evidence of that trend: single-family homes fell 17 percent, the largest monthly drop since January 1991. The struggle in the housing industry is a concern for the broader economy because less homes mean fewer jobs across various sectors.”

http://news.yahoo.com/s/ap/20100616/ap_on_bi_go_ec_fi/us_economy

Unemployment figures will now start climbing again…

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