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Stimulus bill. we've had six months of job growth but this month's was the weakest since october and, you know, well below the levels of their promise, think, $862 billion stimulus bill. $415 billion have been spent as of yesterday and 600,000 jobs since the end of last year and that means we have spent $700,000 for each of the new jobs created. that's a dismal record, the economy is anemic, recovery was good the last quarter of 2009, but they just reduced the gdp forecast for the first quarter of this year down to less than half of what it was at the end of last year. the economy is fit fully...

And it is, in fact, required by law if a new state budget is not reached soon. she says if the cuts are in fact, put into effect, workers would be repaid the difference once a new budget goes into effect. at any moment president obama expected to talk about the new unemployment numbers. he also announced that thousands of new jobs will be created with stimulus money. the president due to speak 9:35 eastern time. we will carry his comments live as soon as he steps up to that mike. you remember the stimulus. you know the $862 billion project supposed to help turn the economy around. minutes fr...

3.5 million new jobs. 90% of them will be in the private sector. the money is going to go out right away. it's going to go to shovel ready projects. every single one of those things is not true. who is he kidding? >> laura: karl, you are such a cynic. you don't know this is recovery summer. joe biden is doing this coast-to-coast tour. this is called recovery summer. uflly it's an unplugged tour. the economy is coming loose. he took a swipe kind of at you. go ahead. >> well, you know, joe biden, you know, they're going around doing these shovel ready projects. less than 4% of the 862 billion-do...

Summer, whatever it is, that's because, think about this, the stimulus spending is in full swing right now. the biggest bang we're ever going to get out of the stimulus is happening right now. and even while it's happening, we still have unemployment around 9.5%. so what's going on here? a big part of the problem is that you've still got states coming back, all this problem in the private sector. a lot of people are saying, wait a second, the stimulus is $862 billion. why didn't it turn the economy around? other people are saying things would be way worse if it wasn't for that. the president a...

We're still seeing hovering up toward 10%, even being above nine is insanely high. that is happening at the same time the stimulus is pretty much giving us the biggest bang for its buck that it ever going to give us. we're having this high unemployment rate. at the same time that the stimulus is pretty much operating in overdrive. and here to help explain that is tammy luby from cnnmoney.com. got a great story out there today that says that -- >> thank you. >> i'll show everyone the headline. the big bang is over. so talk to us about this. it is an $862 billion project. how much is the stimulu...