Stimulus Month 7 Update: 3.1 million lost jobs


Recently, President Obama, his various spokesmen and his media supporters donned their Econ professor hats to tutor us from history that re-employment has always been a “lagging indicator” as recessions end and recoveries begin.   True enough. But that’s not what they said in January and February.  Back then, when they were furiously selling the stimulus, they said spending $787 Billion in borrowed funds would make this recession different, that job losses would halt, and millions of new jobs would be created – immediately.

Actual Stimulus Results:

In January, as the President was furiously selling the stimulus or recovery plan, promising millions of new jobs, 134.3 million people were employed.

In August, the seventh month of “stimulus” 131.2 million people were employed.

3 Comments so far

  1. Reseda Hank on September 4th, 2009

    as anyone who gives this a moment’s thought understands, this is the BUSH recession, and these are BUSH unemployment rates.

    you can be sure that I think President Obama is doing an _excellent_ job in difficult circumstances, and with all things considered I’m extremely pleased that he’s president.

    Now let’s return to fixing the healthcare system…

  2. Sarah Livingston on September 4th, 2009

    What is there to be pleased about?

    Obama is turning America into a third world dump.

  3. Drew on September 5th, 2009

    Apparently Reseda suffers from a combination of poor reading comprehension and a lack of facility with numbers.

    Obama’s own report predicts that either with NO ACTION, or under HIS POLICY INITIATIVE unemployment would be significantly less than in reality. That is, under his watch the economy is underperforming.

    He can get away with this with the Reseda’s of the world probably forever, because they have no analytical ability.

    However, you can rest assured, two years from now if the economy begins to show real recovery, they will magically turn on a dime, and attribute all things good Obama.