FOXNews.com - Obama Appeals to Congress for $50 Billion in Emergency Aid

FOXNews.com - Obama Appeals to Congress for $50 Billion in Emergency Aid: "Congressional leaders received a letter from the president asking for almost $50 billion for distribution to state and local governments, saying that increased spending is “urgent and unavoidable,” the Post reported. The money would protect the jobs of teachers, police and firefighters.

“Because the urgency is high—many school districts, cities and states are already being forced to make these layoffs,” Obama wrote, “these provisions must be passed as quickly as possible.”

Obama’s plea comes despite last year’s $787 billion economic stimulus package, which worked to stabilize the failing economy, but did little to help the country’s high unemployment rate. At 9.7 percent, unemployment is nearly the same as it was a year ago."

He was very wrong about the effect of the stimulus and what is left of his credibility on economics?