Americans have been concerned about the economy as far as redundancy is concerned, still not understanding that redundancy rates are not a principal indicator of the state of the country economically. President Obama assured America once more yesterday, that his recovery plan was heading in the right direction, even though the time following the signing of the stimulus bill saw recession high redundancy rates and an additional large drop in the market.

The President admitted he is also not satisfied with the progress we’re seeing so far, indicating that his administration will be fast tracking the strategy detailed in the stimulus plan, eager to give another flicker of hope to Americans who are incensed, at the very least, with the shape of the economy. The Obama administration also claimed that they have so far just spent $44 billion, or 5 percent, of the $787 billion stimulus package, the biggest economic stimulus in American history, and arguably one of the largest financial bills in American history.

Obama says that, “we’re in a spot to really speed up.” He reiterated his guarantee to generate or save 600,000 jobs by the conclusion of the summer, a claim that will never be verifiable. This is just a “repackaging” of old promises and a rejuvenation of old projects, but hopefully the renewed sense of urgency will be enough to make President Obama’s plans and projects effective.

1.6 billion Americans have lost their jobs since the economic stimulus plan was signed in February, making the White House estimations they have still saved 150,000 jobs rather bleak in comparison. The Obama administration has admitted for the first time that they were too overly optimistic in the forecasting they used to sell the stimulus package to Congress. Jared Bernstein, Vice President Biden’s financial adviser, commented, “At the time, our estimate seemed logical. At this time, looking back, it was obviously too positive. Experts consider the administration is still being idealistic and that any job formation will be the result of luck by itself and not at the great scale he predicts.

Opponents of the stimulus plan have argued ever since the President’s swearing in that the stimulus package cannot succeed at all, in spite of of forecasting, due to ‘pork barrel’ projects that have been incorporated in the bill and the fact that the federal budget does not include the money it takes to fund the venture. Obama is now trying to refurbish the country’s assurance in the measures he has taken. He commented, “We’ve done more than ever, faster than ever, more reliably than ever, to get the gears of the economy moving once more. I’m not pleased. We’ve got more work to do.” Americans seemingly agree, and think he has not done a sufficient amount. Obama’s disapproval rating with regard to the economy rose from 30% to 42%, virtually overnight.