Several readers sent emails calling our attention to continued preposterous claims by Administration officials and their media cheer leaders that in spite of the data presented in our previous article, the stimulus is “working!”
Therefore, they say, we should trust their promises on a host of other initiatives including health care, financial regulation, energy regulation, and new taxes.
The stimulus bill was enacted in February, 2009 by Senators and Congressmen who did not read it and did not know what was in it, based on the President’s promise that it would, using his words:
Regardless of what he and his defenders say now, Obama did not sell the stimulus bill in January by promising that jobs would disappear at record rates for the remainder of the year.
They did not sell the bill by promising that the unemployment rate, then 7.7 %, would be 9.7%, fourteen months later.
The clear promise from Obama and “experts” in the administration was that the number of jobs would increase, virtually over night, if Congress enacted the stimulus, $787 Billion of extra borrowing and spending, over and above the already bloated federal budget.
Two simple statistics summarize the “success” to date of the stimulus bill, enacted in February, 2009:
From March through December, 2009, job losses averaged 12,902 per day.
From January through March, 2010, job growth averaged 1,800 per day.