President Obama’s Huge Stimulus Bill that was hyped as so urgent it had to be passed in a few hours, before any Senator or Congressman had read its thousand pages, when the one and only copy still had hand written corrections, cross-outs, and margin notes. Why the urgency? The Administration and the media insisted that immediate action would…
President Obama said…
A failure to act, and act now, will turn crisis into a catastrophe and guarantee …Millions more jobs will be lost.
David Obey, Chairman of the House Appropriations Committee implied that passage of the stimulus would reduce the number of lost jobs the very next week!
Another week that we delay is another 100,000 more people unemployed. I don’t think we want that on our consciences.
House Speaker Nancy Pelosi, arguably the second most powerful Democrat, behind President Obama, implied that immediate action would bring about immediate, positive results, telling Fox News:
We were — we will lose half a million jobs a month the longer we go without a package.
Each unemployment insurance claim represents a newly laid off employee. As the chart shows, during the four weeks since the stimulus passed the rate of job losses has been higher than the four weeks before the stimulus, more than six times Obey’s 100,000 per week and more than 5 times Pelosi’s half-million per month.
Liberty Works will continue to update this chart every week to keep our readers current on the results of The Big Stimulus.
Update: Click on the chart to see the most recent stimulus update.