Back in February 2009, the Obama Administration promised the American public that after their nearly trillion dollar stimulus too effect, the unemployment rate would drop down to 5.3% at the end of his first term.
Today it’s at 8.3%.
What’s another trillion dollars among friends?
Via Instapundit… JAMES PETHOKOUKIS: July jobs report: America’s labor market depression continues. Plus, once again, the damning graph comparing Obama’s stimulus promises with actual results. “Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.”
They really believed they could spend their way out of recession.
What idiots.
The Wall Street Journal reported:
The famed Rosy Scenario, coined in the early days of the Reagan White House when large tax cuts and higher defense spending were assumed to be paid for in part by strong economic growth, is a cornerstone of the Obama administration’s first multiyear budget.
After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.
The last time the economy preformed that well was the New Economy heyday of the late 1990s.
The 2010-2013 forecasts are slightly more optimistic than CBO but much rosier — in some cases by well over one percentage point — than what the Blue Chip Consensus calls for. A separate private-sector gauge, the Survey of Professional Forecasts, also projects a much weaker economy this year and next.
The unemployment rate at the end of President Barack Obama‘s term in 2013 will be just 5.2%, according to the White House. The rate currently sits at 7.6%, and many economists expect it to climb past 9% before the recession ends. A report Thursday showing jobless claims at a 26-year high supports the more pessimistic forecasts, at least in the short run.
If Obama was working in the private sector he would have been canned a long time ago.
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#1 August 3, 2012 at 1:22 pm
bg commented:
++
imho, the average of 8.3% can be a tad deceiving..
State by State unemployment stats need to be displayed..
ie: Nevada 11.6%(p) in Jun 2012
has Harry paid taxes for the past ten years or so??
==
#2 August 3, 2012 at 1:33 pm
Tim in Cali commented:
This video should run on a continuous loop ’til election day
Obama: Shovel ready not as shovel ready as we expected
(laughing with Immelt)
youtube.com
#3 August 3, 2012 at 1:41 pm
Carbon Pootprint commented:
You folks need the new Obama Math book. 2 – 3 = 5 jobs (a 3 letter word according to Biden) Please don’t make them break out the steel cage head wear with the rats (not Rahm)
#4 August 3, 2012 at 1:52 pm
Eden12345 commented:
#3 I have a sticker on my laptop that says 1+1=3. Its my ObamaMath CheatSheet.
#5 August 3, 2012 at 2:06 pm
DirtMonkey commented:
Notice how all the “jobs reports” leaves out the number of people no longer in the workforce. Isn’t the real unemployment number (the U6 index) up around 17% or so? If only there was a way to get the real number out to all the sheeple who believe everything this government and the liberal media tells them.
Obama has no domestic policy to speak of. He has no foreign policy to speak of. He has no jobs program to speak of. His signature health care plan is driving doctors out of the field, crippling small businesses and putting thousands of Americans out of work.
The Obama of 2012 has nothing positive to run on. Nothing. And guess what? He, more than anyone else in his White House or campaign, knows it.
Obama has no domestic policy to speak of. He has no foreign policy to speak of.He knows his biography is unraveling faster than the baseball that Roy Hobbs crushed into the rain in the movie “The Natural.” He knows that he has run out of all options but one: Go negative on Mitt Romney 24/7 and hope a heretofore compromised mainstream media will once again unethically act as his surrogate.
Unfortunately for Obama, two massive holes exist in his “demonize Romney with an assist from the media” campaign tactic.
First, most Americans who are paying attention to this contest have come to the conclusion that Romney is a very decent and moral person who does have a fairly impressive business background coupled with some other real-world experience. |
