President Obama on July 1st – Stimulus has “done its job.”
Unemployment figures released on July 2nd – 467,000 jobs lost and jobless rate at 9.5%, the highest in 26 years.
I think the only job the stimulus has done has been to reward all the liberal special interest groups that back Obama in the election and allow the liberals in Congress to pass a massive expansion of the government under the guise of stimulus.
Where’s the stimulus, Barack?
Obama says stimulus spending to “ramp up” – June 8th.
But according to USAToday, “Federal spending meant to jump-start the economy slowed last week, two weeks after President Obama vowed to “ramp up” the pace of that aid.”
This WSJ article by William McGurn is the best explanation of the phony job claims by the Obama Administration. Several other posts have shown the lack of job creation by the stimulus funds, but Obama has taken it to a new level.
In a wise — but dishonest — political move, McGurn points out how the Obama claim of jobs “saved” is phony. It is a dubious economic measure that cannot be confirmed. So when the stimulus bill doesn’t work (as we are seeing right now, 1.6 million jobs lost since it passed), the Obama Administration can say it worked because we “saved” all these jobs that would have been lost.
If you Google “Obama Saved or Create” you get 726,000 results showing how widely this phrase has been thrown around. In the mainstream media’s love affair with Obama, the WSJ is alone in questioning the validity of this bogus claim.
We first reported this news about the Obama stimulus package on May 13th. Others are now seeing the light. FactCheck.org’s report on “Making Sense of Stimulus Spending” says:
“The fact is the economy has lost more jobs, and the unemployment rate is significantly higher, than the administration originally predicted would be the case if Washington did nothing. In fact, the original projections of Obama’s economic aides have turned out to be off by a very wide margin.”
This is no shock to those folks who are trying to make a living in this economy. FactCheck.org is clearly seeing through the spin.
Interesting chart below, courtesy of the White House. The Administration’s economic team released a report on January 9 to help sell the stimulus by comparing unemployment projections with and without their proposed stimulus.
Take a look at the red markers, which were added to indicate actual unemployment…
Wes Climer, Communications Director
Rep. Bill Cassidy (LA-06)
White House Chart
Saying today marks “the beginning of the end” of the recession, Obama signed the $787B stimulus into law and asked Americans to “hold us accountable to the results.”
Don’t worry — we will. Can’t wait for the 2010 elections.
Change we can believe in? Take a look here to see how the stimulus bill was actually written and delivered.