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Friday, January 29, 2010
2:07 PM EST
Tim Andrews

Post "Stimulus" Unemployment: A Historical Perspective

 As we have noted previously on numerous occasions, in January 2009 , the Obama Administration the$787 billion so-called “stimulus” would “create or save” 2.5 million jobs immediately, and 4.1 million jobs by 2010. It was claimed the “stimulus” plan would lead to an unemployment rate of below 8 percent. This - rather obviously - has not occurred. Unemployment is at over 10%, and 2.74 million jobs have been lost in President Obama's First Year alone.

To adequately access the impact of President Obama's so-called "stimulus", however, it is best to compare employment data to what happened during similar, economic downturns. Enrique Martínez-García and Janet Koech, in a report for the Federal Reserve Bank of Dallas, have done just that. Their findings are both enlightening and disturbing.

Note how unemployment has exceeded any other post WWII recession.

This graph is particularly telling - because it was October 2008 when the big-government spending spree really begun...

More graphs here. 

No matter how they try to spin it, the Stimulus has not only failed, it has also made the economic downturnconsiderably worse.

 

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