NYT analyzes:

With unemployment already at 9.5 percent and likely to exceed 10 percent, much higher than White House officials predicted back in February, Mr. Obama has been facing attacks that his $787 billion stimulus program was either too timid or wrong-headed or both. Now, just five months after Congress agreed on the plan, with only a fraction of the money actually out the door, Washington is debating the need for a second round of stimulus amid economic and political crosscurrents.

Wasn’t it apparent even before the stimulus was passed that it wouldn’t work?

It took $787 billion in Congressional funding, and trillions more in Treasury money, and thousands of lost jobs to make it clear that Obama’s plan will not help. And, he’s asking for more?!

It ain’t going to the consumers. And, its surely not helping their confidence.

According to the latest numbers…

The consumer confidence index fell to 49.3 in June from 54.8 in May. Economists polled by Reuters had expected a healthier reading of 55.0 for the month.

Oops. Ouch. Oh no. Where did all of Obie’s trillions disappear?

Abroad, we could say it all lined politicians’ pockets … how about here?