http://www.powerlineblog.com/archives/2009/06/023741.php
A site called Innocent Bystanders is doing the wonderful service of tracking unemployment numbers against the projections that the Obama administration used to justify the $800 billion, pork-laden "stimulus" bill. The Obama administration projected what unemployment would be if the bill was passed, compared to what would happen if there was no "stimulus" package. Unfortunately, reality has taken a quite different turn--unemployment is much worse than the predicted "no stimulus" scenario. In fact, looking at the trend line, it seems obvious that the $800 billion bill has had no impact whatsoever--no positive impact, anyway.
It's not too often that one can declare, on the basis of a single graphic image, that a particular piece of legislation has been a failure, but I think this is such a case
It's not too often that one can declare, on the basis of a single graphic image, that a particular piece of legislation has been a failure, but I think this is such a case.
1 comment:
Interesting stats and graphic but, as we say at work "If you torture numbers long enough, they'll say anything you want."
What is known though, is that the employment rate is a terrible indicator of the state of the economy since, it's well known that employment is a lagging indicator.
Still, makes for great discussion.
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