Friday, July 10, 2009

Obama Can't Be Trusted With Numbers - WSJ.com

Obama Can't Be Trusted With Numbers - WSJ.com: "In February, President Barack Obama signed a $787 billion stimulus bill while making lavish promises about the results. He pledged that 'a new wave of innovation, activity and construction will be unleashed all across America.' He also said the stimulus would 'save or create up to four million jobs.' Vice President Joe Biden said the massive federal spending plan would 'drop-kick' the economy out of the recession.
But the unemployment rate today is 9.5% -- nearly 20% higher than the Obama White House said it would be with the stimulus in place. Keith Hennessey, who worked at the Bush White House on economic policy, has noted that unemployment is now higher than the administration said it would be if nothing was done to revive the economy. There are 2.6 million fewer Americans working than Mr. Obama promised.

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