The Stimulus Bill was approved by Congress and signed by the President Last February. The main argument that was used by the Democrats who favored the Bill was that the increased government spending would decrease the unemployment rate. President Obama promised that the $787 Billion stimulus plan would create 600000 jobs.
The Administration created a chart last January that predicted the potential unemployment rate both with and without the Stimulus Bill. Obviously Team Obama failed to achieve its goals.
Unfortunately they are trying to spin the information by changing the baseline. Obama makes the claim that the Economy is in worse shape than they originally thought. However, last February Obama said that “today’s economy is the worst since the Great Depression”.
Here is a chart that shows projected unemployment rates under the different scenarios along with actual unemployment rate. Doesn’t look good does it?
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