Don’t Believe Government Economists

Decades of sad experience proves that economic predictions from government officials and Economists almost never turn out to be accurate.

Yet the political-media establishment continues to be driven by politically motivated, economic predictions.  Specious predictions are presented to the public as if they were knowable, proven facts.  The campaign for ObamaCare was a tsunami of absurd predictions of better health care for all of us, at lower cost to government, employers and individuals.

Health care hype wasn’t the first time the Obama Administration regaled us with confident, upbeat economic predictions.  The President began promoting his “stimulus” or recovery act back on January 10, 2009 with a report called “The Job Impact of  the American Recovery and Investment Act.”  Below are key predictions from that report, along with charts showing actual economic results after the first 13 months.

Obama’s Prediction:

A package in the range that the President-Elect has discussed is expected to create between three and four million jobs by the end of 2010…More than 90 percent of the jobs created are likely to be in the private sector.

Obama’s Prediction:

Certain industries, such as construction and manufacturing, are likely to experience particularly strong job growth under a recovery package that includes an emphasis on infrastructure, energy, and school repair.

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One sector has enjoyed a 9% increase in jobs in the 13 months since the stimulus was enacted:

The Bottom Line

Utopian political predictions of better health care at lower cost are not believable.

It’s not too late to turn the ObamaCare ship around.  The various programs, bureaucracies, rules, regulations and costs are scheduled to  phase in over the next four years.  We must demand repeal of this hideous legislation, in its entirety, before grim economic reality replaces pie-in-the-sky predictions.