Posted on 07/03/2009 10:21:25 AM PDT by rellimpank
After being asked when the public should begin judging the success of the nearly $800-billion stimulus plan, White House Press Secretary Robert Gibbs answered, "I think we should begin to judge it now."
Let's take his advice.
The administration warned that if we failed to support a stimulus package, unemployment would hit a dire 9 percent by 2010. With the stimulus, unemployment, it claimed, would stay in the 8-percent range.
This week, the Labor Department announced that the jobless rate jumped to 9.5 percent, higher than any time since August 1983.
It's not as if the administration was close. As the New York Times notes, "the difference between the situation that the Obama advisers predicted and the one that has come to pass is about 2.5 million jobs. It's as if every worker in the city of Los Angeles received an unexpected layoff notice."
(Excerpt) Read more at denverpost.com ...
Ping.
Don't you mean the "mope" economy.
Its the equivalent of the entire adult population of Virginia being unemployed. Insane.
Going to get worse. The EPA in CA is making sure of that.
The worse is yet to come with the additional cost for energy and anything that uses it and the inflationary impactof the enormus growth in the money supply. That doesn’t take inot account the negative impact if BO doesn’t make his growth goals(even more debt and inflation). This guty would f**k up a one car funeral.
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