Monday, May 11, 2009

Grading the Stimulus

Back in January, the incoming Obama administration was pushing the stimulus plan. They said that the results would be dire if the stimulus didn't pass. They even gave us this handy graph to compare what unemployment would be like with or without the stimulus:

As you can see, the prediction with the stimulus was that unemployment would top off at 8% and then gradually fall. Without the stimulus, unemployment would rocket to to the crippling level of 9% by Q1 2010, then gradually fall to be the, um, same as the alternative by 2014 (which means that this massive debt Obama is incurring is to save 1% unemployment for a couple of years).

Now the April unemployment numbers are in, and we can do some comparing:
Yay! Current unemployment is 8.9% and would have been nearly 9% if you don't count the 66,000 temporary employees added to federal payroll for the 2010 census and the 6,000 employees added to local and state governments.

So our current economy has now reached a point worse than where the Obama team predicted we would ever be if the stimulus didn't pass. Oh, and we've added huge amounts of debt and the debt will only get worse.


Andrew said...

I'm starting to understand Europe. The unaware don't want to be encumbered by kids. Those who are aware don't want to bring kids into the future their governments are creating.

We've sold our children into debt bondage because we're too immature to live within our means.

Big Jay said...

Mark, you are the man. Great post