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:
Aug: 201,000 (preliminary)
Sept: 263,000 (preliminary)
“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?”