Obamanomics

GEeks and Government

By on 10.12.10 | 10:27AM

It won't come as a surprise to the Washington Examiner lobbying beat reporter Tim Carney, but CNSNews reports that General Electric has become a big beneficiary of Obama administration generosity:

The Obama administration gave corporate giant General Electric—the parent company of NBC--$24.9 million in grants from the $787-billion economic “stimulus” law President Barack Obama signed in February 2009, according to records posted by the administration at Recovery.gov.

...GE decreased its U.S.-based employees by 18,000 in 2009, according to the company’s 2009 annual report....

GE was the primary recipient of 14 stimulus grants, a spokeswoman for Recovery.gov confirmed to CNSNews.com. These 14 grants provided GE with $24.9 million in tax dollars. On four additional stimulus grants, the primary recipient of the federal money hired GE as a contractor.

Carney back in March 2009:

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Media Mystified as Failure of Obamanomics Becomes Apparent

By on 7.1.10 | 11:53AM

"New claims for state unemployment aid unexpectedly rose last week, heightening fears the U.S. economic recovery is stalling."
-- Reuters, "Surprise Rise in Jobless Claims Stokes Recovery Worries," July 1, 2010

Hmmm. As of noon today, the Dow Jones Industrial Average was at its lowest point in more than eight months, and an analyst says the latest economic data are "clearly pointing to a double-dip recession."

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