State of The Union Stimulus Claims

President Obama tried to portray the so-called stimulus bill as an engine of prosperity.  Remember, the stimulus was sold as the immediate cure to rising unemployment.  Obama promised the jobless rate would rise no higher than 8% if it passed.  Here’s what he said Wednesday night:

Because of the steps we took, there are about two million Americans working right now who would otherwise be unemployed. 200,000 work in construction and clean energy. 300,000 are teachers and other education workers…The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act.  That’s right -– the Recovery Act, also known as the stimulus bill.

Since most of the hype leading up to passage of the Stimulus was about so-called shovel ready projects, one would have expected the construction industry to have received the most immediate benefit.  But one would never know there was any benefit from looking at actual employment results in Construction.

construction

Education employment is also disappointing when compared to Obama’s State of The Union claim.

education

2 Comments so far

  1. Forgotten Liberty on January 31st, 2010

    It’s all smoke and mirrors. He makes claims about jobs that are created or saved yet it is impossible to verify if what he says is true or not. What we do know for sure is that unemployment has continued to rise despite his claims.

  2. Drew on February 1st, 2010

    ” But one would never know there was any benefit from looking at actual employment results in Construction.”

    That’s because, as FL correctly observes, its all smoke and mirrors. They make it up as they go along, and there is no press to call them out on it.