With the report this morning of a jawdropping 9.4% national unemployment rate, we can officially say this about the stimulus.
We blew it. Big time.
As you can see in the below graph, courtesy the Innocent Bystanders blog, what Obama promised regarding unemployment numbers post-$800 billion stimulus is far from reality. Even his calculations of what would happen had we done nothing is far better than what the numbers turned out to be.
Based on this graph, Obama’s own stimulus has made things worse. There is no other conclusion to be had. According to him, we had two options…his stimulus, or nothing. It turns out nothing would have been the better option, since his spending spree has led to unemployment numbers that we haven’t seen for 26 years.
But don’t worry, the White House has a new spokesman that will clear everything right up.
h/t: Fielding Yost