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Barack Obama’s Stimulus Is Not Stimulating

By: Erick Erickson (Diary)  |  June 8th, 2009 at 04:30 AM  | 

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Moe has already pointed this out. It is worth reiterating and paying attention to.

Below is a chart prepared by the Obama administration — at least the blue lines were prepared by the Obama Administration. The light blue line shows what unemployment would be like if Barack Obama’s stimulus plan had not been passed.

The dark blue line shows what unemployment would be like with Barack Obama’s stimulus plan.

The assertion was that with the stimulus plan, the growth of unemployment would slow dramatically during the second quarter of 2009, taper off in the third quarter, then begin heading back down. Without the stimulus plan, unemployment would continue skyrocketing well into 2010.

There is some additional data added to the chart. Some red dots showing where unemployment is now that Barack Obama’s stimulus plan has passed. The result?

Actual unemployment has risen faster and higher than Barack Obama said would happen even without his stimulus plan. In other words: Barack Obama’s stimulus plan has failed to do what he claimed it would do and we are in greater debt and greater unemployment than if we had done nothing at all.

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COMMENTS

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  • cajundomer

    Technically, all of the graph is “created by the Obama economic team,” especially the maroon dots.

  • cajundomer

    Technically, all of the graph is “created by the Obama economic team,” especially the maroon dots.

  • USNJIMRET

    Now drink your Hope-N-Change flavored Kool Aide and bow to you masters!!
    (The above message brought to you by the Diversity Council of the Democratic Party of America.)
    (Bill to follow.)

  • Skanderbeg

    Just in case anyone runs into a charge that the “blue” graph is a recent fabrication (I did after Moe’s original on this one), here’s an archived 10 January 2009 story about the release of the graph by the incoming team.

    http://www.twine.com/item/11s7l7fhb-183/unemployment-rate-with-and-without-the-recovery-plan?context=%2Fsearch%3Ftype%3DImage%26spot%3Dradar%253A%252F%252F16jly655-7zp%26start%3D6%26size%3D9

  • izoneguy

    Actually Obama’s economic “plans” are probably causing unemployment to rise faster. Business looks at Obama as the great “redistributor”. Business is slashing & burning all it can so that Obama cannot take it away. In addition to the job cuts the real story is this: No one is hiring. If you use Obama’s logic that he has “saved” 150,000 jobs then that means we have only lost 2 million jobs since he took office. So if Obama “creates” another 300,000 in 8 months then America will only lose 3.7 million jobs instead of 4 million in the same time period. 450,000 jobs vs. 5.7 million lost jobs does not look very stimulating to me. In addition the stimulus stimulates government spending. It does nothing to help the private sector. If Obama’s idea of helping the private sector means seizing the means of production then we really don’t want your help Mr. President.

  • Mike gamecock DeVine
  • Scope

    n/t

  • Xasteius

    seems it will peak around 10% – assuming it continues to follow the trend.

  • Scope

    As I have said on another thread, the more people who become unemployed, and for longer periods, the more and more people will become very angry. I can see the theft arrests going through the roof, and utter chaos ensuing. As GC said, when the Libs start pushing for even more extended unemploymenrt, it would be a great opportunity for the Republicans to also push for the benefits, and make darn sure that the message gets out their that it is all Obama and the Liberals fault for the lack of jobs, and the bankrupting of the USA.

  • Mike gamecock DeVine
  • Patricia_C

    Initially, Obama promised Americans that his stifulus plan would Create OR Save 3.5 million jobs. The “Create” part, according to the rising unemployment rate has pretty much smashed that to a pulp while the “Create” part is a fantasy number pulled out of his backside, which experts say is impossible to quantify.

    Thus far, The Obamasiah claims that as many as 150,000 jobs HAVE been “saved or created” by his stimulus plan, even as government reports say the economy has LOST more than 1.6 million jobs since Congress approved funding for the program in February and he has no mathematical evidence to prove that ANY jobs (other than the Czars and other minions necessary to crush and/or punish those who would stand in their way) have been “saved or created” for We The People.

    Well, now, The One has pulled a NEW number out of his butt… His promise now is that 600,000 jobs will be “created” this summer… and when this too is proven as ridiculous as the other promised jobs “created” numbers he will again insert the very convenient (and unquantifiable) description of “saved” in order to again explain his failure… Oh… and he make sure to pass blame on to the “previous administration”… “causee, everyone knows that he is responsible for everything Bambie screws up.

    http://news.yahoo.com/s/ap/20090608/ap_on_bi_ge/us_obama_stimulus

    I guess this is why The One takes great care to control who is present during his big Teleprompter Reading Sessions and has created his OWN Press Corp… Can’t have us REAL people snickering and laughing like the Chinese did atTimmy, now can we?