Back in February 2009, the Obama Administration promised the American public that after their nearly trillion dollar stimulus too effect, the unemployment rate would drop down to 5.3% at the end of his first term.
Today it’s at 8.3%.

What’s another trillion dollars among friends?

Via Instapundit… JAMES PETHOKOUKIS: July jobs report: America’s labor market depression continues. Plus, once again, the damning graph comparing Obama’s stimulus promises with actual results. “Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.”

They really believed they could spend their way out of recession.
What idiots.
The Wall Street Journal reported:

The famed Rosy Scenario, coined in the early days of the Reagan White House when large tax cuts and higher defense spending were assumed to be paid for in part by strong economic growth, is a cornerstone of the Obama administration’s first multiyear budget.

After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.

The last time the economy preformed that well was the New Economy heyday of the late 1990s.

The 2010-2013 forecasts are slightly more optimistic than CBO but much rosier — in some cases by well over one percentage point — than what the Blue Chip Consensus calls for. A separate private-sector gauge, the Survey of Professional Forecasts, also projects a much weaker economy this year and next.

The unemployment rate at the end of President Barack Obama‘s term in 2013 will be just 5.2%, according to the White House. The rate currently sits at 7.6%, and many economists expect it to climb past 9% before the recession ends. A report Thursday showing jobless claims at a 26-year high supports the more pessimistic forecasts, at least in the short run.

If Obama was working in the private sector he would have been canned a long time ago.

 

 

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  1. ++

    imho, the average of 8.3% can be a tad deceiving..

    State by State unemployment stats need to be displayed..

    ie: Nevada 11.6%(p) in Jun 2012

    has Harry paid taxes for the past ten years or so??

    ==

  2. This video should run on a continuous loop ’til election day

    Obama: Shovel ready not as shovel ready as we expected
    (laughing with Immelt)

    http://www.youtube.com/watch?v=O55aRrvXtio

  3. You folks need the new Obama Math book. 2 – 3 = 5 jobs (a 3 letter word according to Biden) Please don’t make them break out the steel cage head wear with the rats (not Rahm)

  4. #3 I have a sticker on my laptop that says 1+1=3. Its my ObamaMath CheatSheet.

  5. Notice how all the “jobs reports” leaves out the number of people no longer in the workforce. Isn’t the real unemployment number (the U6 index) up around 17% or so? If only there was a way to get the real number out to all the sheeple who believe everything this government and the liberal media tells them.

  6. We should make “Welcome to the Recovery” as widely known as the Left made “Mission Accomplished!”

  7. The left is out telling lies about how good the economy is now. The left will lie and lie and their devout followers will buy their garbage as usual.

  8. they didn’t believe they could spend their way of of recession. they believed they could spend their way into permanent power.

  9. They really believed they could spend their way out of recession.

    Regardless of what they actually believed, all they needed to do was convince the typical ignorant voter that such a thing was possible.

  10. #5…we are suppose to have the same number of people working as were working in 1971. we have a 100,000,000 more people in the united states(thats not counting the colonizers here illegally)than in 1971. where are all those people?

  11. “They really believed they could spend their way out of recession.”

    Um … no, they didn’t. They knew exactly what it would do and it’s accomplishing exactly what they want. Cloward-Piven.

    The only idiots are those who actually believe they’re actually TRYING to fix things. I’m getting sick of conservatives who think Obama is simply stupid.

  12. His promises never happen, and everything else he says has an expiration date.

  13. MUD – Marxist Utopian Delusion marches on. Next step is a failed state , then on to Utopia!

  14. Jim, get with the propaganda err program brother. It’s not 8.3% like stated, it’s 8.254% like genius 0bama’s brilliant economic adviser, Alan Krueger said. I mean who needs to round the figures up when you can just expand the number out kinda like the price of gasoline.

    @ Gregor #14

    He is an idiot to think the American people are going to buy what he is selling. Not for a one second have conservatives believed anything that loser said! After his first year it didn’t matter what he said or how he said it. It’s all lies, propaganda, blame games, class warfare, Cronyism, Statism, Fascism, Marxism and just BS in general. He is the most pathetic, desperate, vile loser to ever hold that office in the modern age imo. That is saying a lot considering that Clinton and Carter also held the same office.

  15. Cass Sunstein has resigned.

    http://dailycaller.com/2012/08/03/obama-regulatory-czar-cass-sunstein-resigns/

    Hmmmmmm….does he see the handwriting on the wall and is bailing out before the indictments start?

  16. That could be the best Romney ad yet.



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