Jobs, Today’s Recycled Gibberish

Recount the billions of dollars wasted on this … Wasn’t the porkulus originally about $9oo Billion, and for what?

obama-unemployment

What did we get for the money other than some bankrupt carcuses of dead companies littering the landscape.

All hat no cattle… In fact he no longer even talks a good game, it’s just recycled gibberish.

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I almost feel sorry for the Obama Administration’s spin doctors. Every month, they probably wait for the unemployment numbers from the Bureau of Labor Statistics with the same level of excitement that people on death row wait for their execution date.

This has been going on for a while and today’s new data is another good example. As this chart indicates, the White House promised that the unemployment rate today would be almost down to 5 percent if we enacted the so-called stimulus back in 2009. Instead, the new numbers show that the jobless rate is 7.9 – almost 3.0 percentage points higher.

I enjoy using this chart to indict Obamanomics, in part because it’s a two-fer. I get to criticize the Administration’s overall record, and I simultaneously get to take a jab at Keynesian spending schemes.

What’s not to love?

Compare to other modern recessions …

feb-2013-minn-fed-employment-recession-data

Chart from the Minn Fed.

 

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