I hate to say I told you so regarding the abysmal failure of President Obama’s “stimulus” plan, but I freakin’ told you so! Since February of 2009, 49 states including the District of Columbia lost jobs. The only state which has survived unscathed from President Obama’s big government failures is North Dakota, of all places.
This report, released by the Republican members of the House Ways and Means committee, is not good news for the floundering administration.
Here are the details by the numbers:
The table below compares the White House’s February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs. To see how stimulus has failed your state, see the table below.
I love the last line, “see how the stimulus has failed you state, see the table below.” Well without further ado, here is the mentioned table listing the administration’s projected job gains thanks to the stimulus next to the actual job loss numbers:
The state of Illinois is an ironic example in my opinion. Since Obama’s massive job-creation stimulus plan in February, the state has lost the exact mount of jobs it was forecast to gain. That’s the best illustration showing how these policies being peddled by the Obama administration couldn’t be further removed from economic reality or basic economic common sense.
Six million jobs shy of promised White House projections since we the taxpayers wrote a $700 billion pork-filled check back in February. How sick is that? Is this the change Obama spoke of? Bringing government waste and failure to an entirely new level of incompetence?
I, among many other people, argued vehemently against President Obama’s wasteful stimulus bill back in February of 2009 because I could see it had nothing to do with stimulating the economy. The legislation grew the size of government and did nothing with regard to job creation or spurring the private sector. President Obama can no longer blame his failures on President Bush, as he’s been doing for months. He must man-up and level with the American people on how he failed in terms of economic growth.
I know that will never happen since the smartest people in the White House will never admit they were wrong, despite factual evidence to the contrary. Of course, the Associated Press is now trying to argue that 10% unemployment is the new norm and we all need to just shut up and praise Obama for his good intentions.
Keep this all in mind when your grandchildren’s children are paying back President Obama’s failed stimulus plan.