The current administration predicted unemployment would rise to 9 percent by 2010 if Congress did not pass the $787 billion stimulus bill, a do-or-die situation. The President also claimed it would ‘create or save’ 3.5 million jobs and insisted that ‘only government’ could save the country from a recession.
Sad Hill News looked over the ‘Job Impact Recovery and Reinvestment Plan‘ and found this:
“As Figure 1 shows, even with the large prototypical package, the unemployment rate in 2010Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.1”
Near the beginning of Obama’s 2010′s ‘recovery summer,’ he said the stimulus bill created or saved 150,000 new jobs and that it would ‘create or save’ another 600,000 jobs by the end of the summer. Today, the Bureau of Labor Statistics revealed unemployment is now at 9.6% and America accumulated 283,000 job losses over the summer.
What do we learn from all of this? Qualifying ‘hope and change’ has its price. (sigh)
‘Recovery Act’ do-or-die speech:
Double digit unemployment speeches:
Media fall for phony ‘jobs’ claim: HERE
Job Impact Recovery / Reinvestment Plan PDF: HERE
Unemployment justification: HERE
Double digit claims: HERE
Unemployment 9.6%: HERE