2.7 Million Jobs Lost Since “Stimulus” Bill Enacted

From John Kartch on Friday, October 2, 2009 1:47 PM

The U.S. has lost at least 2.7 million jobs since President Barack Obama signed the “stimulus” package into law on Feb. 17.

In January, the Obama Administration claimed the $787 billion “stimulus” plan would lead to an unemployment rate of below 8 percent at this point in time. The unemployment rate now stands at 9.8 percent.

“I think my initial measure of success is creating or saving 4 million jobs,” said President Obama on February 9.

On Sept. 24, Biden told the nation’s governors: “In my wildest dreams, I never thought it [stimulus] would work this well.”

Monthly job losses reported by the BLS are as follows:

Mar:     652,000
Apr:     519,000
May:    303,000
June:    463,000
July:     304,000
Aug:     201,000 (preliminary)
Sept:    263,000 (preliminary)
Total: 2,705,000

“Obama’s overspending has made the economy worse, not better,” said Grover Norquist, Americans for Tax Reform.

Meanwhile, Vice President Joe Biden reacted to the jobs report by saying “As bad as things are, they would be far worse without the recovery plan or these other efforts.”

“Americans were forced to swallow the stimulus overspending, and it didn’t work,” said Norquist. “Is there anything the Obama Administration does that they will ever take responsibility for? Anything?”

Permalink | Email | Print | Tags: CONGRESS, GROVER, SPENDING, OBAMA, STIMULUS, Federal

Comments

Well of course the majority of the money "we" gave the government in the Stimulus bill hasn't been spent yet. They are waiting for next year to spend most of it, mostly because that's when the off-year Congressional elections will happen. But I SURE would love to see ANY HEALTH CARE BILL pass ONLY IF ALL FEDERAL EMPLOYEES (EXCLUDING THE MILITARY) HAVE TO ABIDE BY THE SAME LAWS AS THE REST OF US FOR THE SAME KIND OF HEALTH CARE WHICH THEY WOULD HAVE TO PAY FOR. And yes, that most definitely includes all members of Congress, their staffs and the White House, the VP and all of their respective staffs.
>> realwest Saturday, October 3, 2009 1:44 AM Report Comment

stimulus was a waist of time amd money unemployment is out of control will be over 10% soon
>> george bojsa Saturday, October 3, 2009 11:45 AM Report Comment

It doesn't appear, either, that the government is ever very good at spending money wisely. When it does spend money (giving grants to ACORN) it rarely is able to assess the adequacy of controls to whom it gives money, and when it doesn't spend money, (as with the stimulus) then there is no Keynesian benefit. Strict Keynesians would have preferred tax cuts, and now we see why.
>> Jeffrey Hosten Monday, October 5, 2009 12:47 PM Report Comment

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2.7 Million Jobs Lost Since “Stimulus” Bill Enacted

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