Obama said the $787 billion stimulus plan would keep unemployment under 8%. He said that it would create 3.7 million jobs by the end of 2010.
Today’s unemployment number is at a decades high 9.5%. The economy has lost nearly 2 million jobs since the stimulus plan was made law.
Experts predict that a US unemployment rate of 12 per cent by the year’s end or early next year is not out of the question, and that’s without another stimulus plan, which Obama has recently announced he is considering – because the first one has worked so well.
In other news, the Employer-in-Chief has declared that George W. Bush is responsible for the lack of results from his deficit spending. In addition, his stimulus plan will now have to produce nearly 6 million jobs over the next 18 months in order for him to break even.
At least America can take comfort in knowing that the messiah is “deeply concerned” about the whole thing. But, is his concern for the unemployed, or is he concerned about his plunging approval ratings due to the failure of his economic master plan?
What others had to say: