Listening to Kudlow on WABC right now saying the exact opposite.
Soooooooooooo, Obama said unemployment if we do the stimlus package would not go over 8%, well guess where it is now..and we did the stimulus!
Yes but, only about 20 billion is out now. The rest is next year.
Even so, it`s artificial jobs, the ones that dry up and wither once the money does. Like FDR, he may bring down unemployment a digit or two but it will only prolong the depression.
Add to that is Sect. 1605 of the recovery act which is as bad as FDR`s NIRA, a HUGE job killer.