Knoxville blogger Les Jones points out (with a handy graph) that not only are the current national unemployment numbers worse than they were projected to be after the stimulus plan took effect, but they’re actually worse than the Obama administration had projected they would be without the stimulus plan (via Silence).
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May 12th, 2009 at 9:03 pm
You gotta give the stimulus time to work. God only knows how many jobs it might’ve saved already. Who is to say that the unemployment rate wouldn’t be 11 or 12 percent right now if it had not been for the stimulus?
May 13th, 2009 at 8:40 am
Quirky - The point is he claimed it would be along the top curve (somewhere around 8% at this time) without the stimulus. You are saying that it might really have been 11 or 12 percent without the stimulus. If you are correct, then his team of economic geniuses were off by 40-50% in their projections. If they were correct, then the administrations plicies are actually making things worse. Either way, it does not fill me with hope. As Glen Reynolds says, the country is in the best of hands.