Obama Stimulus Catastrophe: Week 30

The $787 Billion  Obama Stimulus, AKA Recovery Act, was enacted in February, in an atmosphere of urgency and panic, by Congressmen and Senators who did not read it.  President Obama’s promise was an immediate halt in job losses and resumption in job creation.

These numbers represent extraordinarily high job losses.

• Last December was the first time since 1982 that unemployment claims exceeded 540,000 in a single week.  Since the stimulus passed, Unemployment claims have been above 540,000 every week, for 30 straight weeks.

• During December and January, as President Obama demanded urgent action from Congress to enact the legislation authorizing him to borrow an additional $787 Billion, Unemployment claims averaged 554,000 per week.
  

• During the most recent two months Unemployment claims averaged 567,000 per week.