Charting Stimulus Failure
Remember how President Obama’s economic stimulus was supposed to save our economy? Remember how without it unemployment would definitely climb over 8%?
Well, E21 has charted the report created in 2009 by Christina Romer and Jared Bernstein when they estimated future unemployment rates with, and without a stimulus plan. Here is the chart that has been created:
That’s right, with the stimulus, unemployment has far exceeded even the predicted path it would have taken without the stimulus. Of course, President Obama’s answer to this is that it would have been even higher without the stimulus. 1) there’s no way to know that, and 2) it doesn’t take a genius to realize that taking taxpayer dollars and using them to create temporary construction jobs won’t actually “stimulate” the economy into growth.
When the construction ended, the job ended, period. That is government “make-work” at its worst. There was no continued stimulation to the economy caused by those construction projects. It was just a way to help union allies that were out of jobs at the time. Guess what, they’re out of work again, and surprise surprise, the left wants a new stimulus.