I think it is time to call it "The Obama Recession." Using Obama's own numbers, we are now worse off than we would have been had Obama's stimulus not gone into effect.
Early in the Obama administration, his economic experts put out a report on the predicted effect of his recovery plan on jobs, "American Recovery and Reinvestment Act: Job Impact by Congressional District" . In that document is a reference to another document, "The Job Impact of the American Recovery and Reinvestment Plan" , dated January 10, 2009.
I give you these references and links so you know what is shown below is real. In the second document, a figure shows the predicted unemployment rate with and without President Obama's stimulus package, the one that is supposed to "create or save" 3 million jobs.
That figure from January has been updated for reality through May's unemployment figure, the one just released today (Friday, June 5) by the blog Innocent Bystanders.
(click for larger view)
The figure should speak for itself. Not only are the actual unemployment numbers worse than predicted with the Recovery Plan, they are worse than predicted had there been no stimulus at all!
Saturday, June 6, 2009
The Obama Recession
The employment numbers are actually worse than if we hadn't passed the stimulus according to the Obama team's projections. From American Thinker: