Posted on 09/04/2009 8:55:42 AM PDT by AngelesCrestHighway
When President Barack Obama sold his $787 billion stimulus package to the American people, he set one metric for success: jobs. Specifically, President Obama promised the American people he would create 4.1 million jobs by the end of 2010. According to the President’s plan, the stimulus should have lowered the nation’s unemployment rate below 8% by this August. That is the objective standard the President set for himself.
And according to objective data released by the Bureau of Labor Statistics this morning, President Obama’s policies, and his stimulus package, have been complete failures. BLS reports that the number of unemployed persons increased by 466,000 in August raising the nation’s unemployment to 9.7% … the highest it has been in 26 years.
Faced with the failure of their signature economic policy, the Obama administration trotted out Vice President Joe Biden to defend the stimulus yesterday in a speech to the Brookings Institute. Biden claimed that the stimulus bill created or saved between 500,000 and 750,000 jobs. This is demonstrably false. Job creation has fallen since the stimulus became law. When Congress passed the stimulus in February the new hire rate had fallen to 3.2%. The most recent data, from June 2009, shows that after the stimulus passed, job creation fell even further to 2.9%. Employers are creating fewer jobs than they did before the stimulus was passed.
Obama: “A Trillion dollars just doesn’t go as far as it used to....”
$787 BILLION divided by 4.1 MILLION = about 191,000 per job!
That’s good government!
But, then, actually = The communist in chief has succeeded and will continue to succeed in destroying the middle class in this country - which is what he and his entourage WANT to achieve.
Normal leaders want the economy to improve. Americans want the economy to improve.
Communists do not.
And soon the fakery will have to end. But it won’t.
They lie because Communism is a LIE. And their vile hatred of this country is pouring out every day in every way - damaging, destroying, all funded by our taxpayer dollars!
A recession is when your neighbor loses his job.
A depression is when you lose your job.
A recovery is when Obama loses his job.
If the “stimulus” succeeded then there wouldn't be any more “crisis” that Obama would have to fix by confiscating more of our money. Additionally, it's my understanding that a very small percentage of this money has been spent so that it can be used later to buy votes at the appropriate time.
Now that is worth repeating!
“A recovery is when Obama loses his job.” Yes!
The question is: Did Biden use the ole’ “saved or created” canard?
Ahh... the words he used were “Create or save”.
But how do we measure how many jobs were “saved” by the stimulus?
If anything, the jobs were “saved” for another day.
The thought of what ACORN is going to do in the next electiuon (with all these billions) scares the hell out of me
We need to start thinking about that future - in 14 months ACORN will be running around with billions
How can this article objectively call it a “complete failure” when we still have over fifteen months till the end of 2010? Granted we’ve been headed in the wrong direction since, but it ain’t over until the deadline passes. Maybe 5 million jobs will pop up in fifteen months. It’s happened before. Right?
They don’t want success! They want chaos and despair in order to take control of the masses.
“damaging, destroying, all funded by our taxpayer dollars!”.....
That’s his Hope and Change....using our tax money to destroy capitalism in America!
Exactly right.
Isn’t that the truth! This guy should be called out EVERY day in EVERY way by EVERY indvidual who cares about the future of this country and their own personal wellbeing....that he and his fellow communists in Congress are DESTROYERS on a mission to “CHANGE” America from a land of free enterprise and the prosperity it has brought us - to become the Marxist/Communist/Green Utopia that will mean continued poverty for generations for millions!
These guys are just full of revisions. Now, with the new unemployment news, they’re 21% off that 8% cap figure and the new hire rate, since the “stimulus” has fallen 11%. These dudes would screw up a 1 car funeral, and it wouldn’t be an accident. Neither is this. Go Comrade O go.
WSJ: REAL Unemployment at 16.8%:
U-6 at 16.8%. Nice job, Obama.
The Hertitage Foundation is right. Trouble is, the stimulus package wasn’t suppose to work in 2009 as advertised. It was Obama’s intention for any positive effect from the $787-billion package to take effect in 2010, just in time for the election. For most Americans, at the current rate 2010 won’t be any better than 2009.
I expect a lot of the stimulus money will start being spent next summer in time for the mid term elections.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.