Friday, November 6, 2009

I'm not making this up

I keep saying, "Obama promised that the stimulus plan would hold unemployment below 8%".

I didn't make that up.

Follow the link below to the official Obama administration report "The Job Impact of the American Recovery and Reinvestment Plan" (aka the stimulus plan) dated January 10, 2009.

Go to page 5 and look at the graph entitled "Unemployment Rate With and Without the Recovery Plan". "With Recovery Plan", unemployment is predicted to peak at 8% in the third quarter of 2009. "Without Recovery Plan", unemployment is predicted to peak at 9% in the first quarter of 2010.

In fact, "With Recovery Plan", unemployment has already passed 10% (in excess of 17% by certain measures) in the fourth quarter of 2009, and is expected to continue increasing, notwithstanding the enactment of Obama's magical wonderful miraculous stimulus plan.

Remember that the next time this administration issues an economic prediction.

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