April 05, 2010

Obama Admin: Stimulus Has Done Exactly What We Expected it To
— Gabriel Malor

No shit?

The federal stimulus act has performed "exactly" as the Obama administration expected it to, Council of Economic Advisers Chairwoman Christina Romer said Sunday.

Republicans renewed their criticism of the stimulus in the aftermath of the March jobs report that showed the unemployment rate stuck at 9.7 percent. But the White House and Democrats and Congress have touted the 162,000 jobs created last month as a sign that their policies are working to spark a recovery.

"I think it has done exactly what we would say it would do," she said on NBC's "Meet the Press."

I seem to remember that Obama's promises about the stimulis were somewhat more optimistic:

Geoff's unemployment chart superimposed on Obama's stimulus expectation.

So Christina Romer lies. As if that's unusual for this administration. And more employment problems may be right around the corner.

Posted by: Gabriel Malor at 05:34 AM | Comments (37)
Post contains 162 words, total size 2 kb.

1 Given that the underlaying fundamentals are still screwed up, can I interpret that graph as showing that we have a natural 10% unemployment ceiling in this large mature economy?

Posted by: Jean at April 05, 2010 05:37 AM (6Njk9)

2 Its bc that chart is raaaaaaacist! It needs to be more street-wiser

Posted by: M. Steele at April 05, 2010 05:40 AM (eoYse)

3

I'm waiting for the 17% unemployment. and unfortunately, I won't wait long.

We are in a spiral, and the current trend is still gonna head downward. Its Carter on Steroids. When prices start to rise with taxes, its gonna get worse. alot worse.

Show me a bloc of small businesses that plan to grow and hire. (other than ones propped up on the FedGov tits)

"The federal stimulus act has performed "exactly" as the Obama administration expected it to:" Yes, and we will fail forward into Communism. State employment cards for the privleged.

Posted by: Cromagnum at April 05, 2010 05:42 AM (QZFcc)

4
Strong B+.

Posted by: YIKES! at April 05, 2010 05:43 AM (E5V01)

5 This chart reminds me of the Neo Nazi flag

Posted by: Mjim at April 05, 2010 05:44 AM (V8B//)

6 The federal stimulus act has performed "exactly" as the Obama administration expected it to,

Joe Biden said different.


Posted by: nickless at April 05, 2010 05:45 AM (MMC8r)

7 Gabe, I think you're being a little harsh here right out of the box for a new week.  They are not lying; the stimulus has done exactly what the Obama admin expected it to do - capsized the nation.

Posted by: 57 States at April 05, 2010 05:48 AM (kbH+o)

8 This chart reminds me of the Neo Nazi flag Put down the comic book.

Posted by: fluffy at April 05, 2010 05:48 AM (4Kl5M)

9

Just wait until crap and tax passes, amnesty passes, oil drilling is put off, VAT passes, and the health care taxes kick in.  It's destruction ahead.  The jackass party doesn't have a single idea that does not corrode the economy.  If they succeed in tanking it, which seems to be their plan, I wonder if things will work out to be as great for them as they suppose?  After all, nobody is going to buy our debt and keep endlessly financing their spending when it becomes clear that our ability to produce goods, services, and technological advances has been destroyed. 

Posted by: Reactionary at April 05, 2010 05:49 AM (xUM1Q)

10 Of course these guys think 10% unemployment and trillions of dollars of debt are a good thing because these are the same people screaming bloody murder a few years ago that 5% unemployment and billions of dollars of debt under George Bush was a bad thing.

Posted by: 57 States at April 05, 2010 05:51 AM (kbH+o)

11 Seriously, what stimulus?

Posted by: Chuckie Gibson at April 05, 2010 05:52 AM (GwPRU)

12

As Zerohedge showed on Friday, the BLS's own data reveals that when adjusted for census hires, "weather" distortions and "birth-death" adjustments, the net job movement was -67,000.

The fact that the U6 is climbing again (after a pretty dramatic drop in January from 17.3 to 16.5%), nearly half (44.1%) of the reported unemployed workforce has now been out of work longer than 27 weeks, and part-time/temp work has skyrocketed over last year, and the 162,000 jobs number doesn't seem quite so rosy.  In fact, it shows that people are desperately taking anything to keep their heads above water.

So no, this jobs report is only positive on the most superficial level.

Posted by: David Axelrod's Combover at April 05, 2010 05:53 AM (/Pw+r)

13

Last night's unemployment thread had a truly scary graph. And oil is going up.

We're screwed.

Posted by: Ed Anger at April 05, 2010 05:53 AM (7+pP9)

14 The chart doesn't go high enough to show the actual unemployment which is probably around 25%.

Posted by: Vic at April 05, 2010 05:53 AM (QrA9E)

15
13
And oil is going up.

We're screwed.
Posted by: Ed Anger

That's because of Bush's friends in the oil business.  Wait a minute.  What year is it?

Posted by: Dang at April 05, 2010 05:58 AM (UA4gE)

16

9  . . . I wonder if things will work out to be as great for them as they suppose?

Of course it will.  Once they have proved that capitalism has failed they will be able to abandon the free markets, the Constitition, elections, etc. to transform this fundamentally flawed nation.

Or as another great American once said, "We have to abandon the free markets to save the free markets."

It's all gravitas.

Posted by: 57 States at April 05, 2010 06:00 AM (kbH+o)

17 Why, after so much evidence that the Obamunist regime is constantly fricking with the unemployment figures (or "tweaking" them, in the current idiom) does anybody believe that unemployment is only 9% - 10%?  Try 16% - 17%. 

Posted by: Minnie Rodent at April 05, 2010 06:00 AM (PZLW0)

18 As an addendum, no wonder they're so hot to bring the troops home.  Obama wants to to have those tanks rolling in the streets, in case the citizenry wants to express its dissatisfaction.

Posted by: Minnie Rodent at April 05, 2010 06:03 AM (PZLW0)

19 I would love to see that chart if unemployment were calculated the same way today as it was in 2007, and then if the full # of unemployed and underemployed people were counted. They are tweaking like mad to keep the # at 'only' 9.7%

Posted by: PaleRider at April 05, 2010 06:14 AM (DIsMj)

20 And add in the fact that almost all the stimulus monies went to libtard states and pals of bambi.......


Posted by: Rickshaw Jack at April 05, 2010 06:15 AM (DvIX/)

21 Come now, Comrade Malor, why would you make such anti-socialist comments?  Comrade Obama cares about your welfare, and both He and the Party are greatly concerned that your comments could be misunderstood by a few wrong-thinking members of our great socialist society.

Comrade, enjoy your freedom.  But you need to think about the effects of your comments before you write such emotional and non-socialist words.

That is all.

Posted by: sf at April 05, 2010 06:20 AM (eSMQV)

22 Obama lies, about most everything ... And this lie is verifiable.

Posted by: bill-tb at April 05, 2010 06:41 AM (y+QfZ)

23 The chart is irrelevant. The stimulus was never intended to do anything but serve as a mechanism for promoting long-term Democrat election prospects. And we've already seen that it's performing that function quite well.

Posted by: Dodd at April 05, 2010 06:47 AM (TTJgx)

24

Geez, Gabriel, give President Obama a chance.

He inherited a disaster and they're still learning just how bad the last guy made things and all you right wingers want to do is obstruct progress and at least the president we have now can put politics aside and get things done but you want him to fail which means you want the country to fail which means you're not really a patriot at all except when it comes to cheerleading illegal wars of imperialism to further enrich your oil buddies.

At least he's trying.

Posted by: WaterCow at April 05, 2010 06:50 AM (cQyWA)

25

Retroactive lying.

If the lie is too obvious, just deny what you said and turn it into something better.

Calling them liars isn't strong enough.

Posted by: proreason at April 05, 2010 06:54 AM (+8dSJ)

26 Any update on the new chocolate rations?

Posted by: wiserbud at April 05, 2010 06:55 AM (tWf3S)

27

At least he's trying.

Yes he is.  Extremely. 

 

 

Posted by: wiserbud at April 05, 2010 06:58 AM (wWwJR)

28 @24 WaterCow - ya forgot the [/sarc] tag there

Posted by: chuck in st paul at April 05, 2010 07:14 AM (adr25)

29 Obama is absolutely lost . . . an economic tsunami and a foreign relations failure are about to tumble down on him and he stands facing the camera, smiling like a Cheshire cat eating shit. This poor sick Republic has but a slim chance of crawling out from under this disaster.

Posted by: rplat at April 05, 2010 07:23 AM (G1ArL)

30 If we add this many people much debt and unemployment, my fear is that the island economy will tip over and capsize.

Posted by: Rep. Hank "Master Geographer" Johnson at April 05, 2010 07:23 AM (DrWcr)

31 Oh, knock off the Claude Rains bit.

Of course it has done just as expected - if you're an Alinskyite out to kill capitalism, it has.

Posted by: Wind Rider at April 05, 2010 07:45 AM (NiW2h)

32

This:  I loved this, from F&F this morning.

POLLS:

6% feel that the stimulus spending has created jobs.
7% feel that Elvis Presley is still alive.

Posted by: reason at April 05, 2010 08:14 AM (XiVKO)

33

Keep humpin that chicken, freepers.

Zombie Reagan weeps for his party.

Posted by: Junior at April 05, 2010 09:03 AM (rwnVk)

34 Congrats Gabe, this is a hot topic over at Fark.  Your snark hit the spot apparently. 

Posted by: sybilll at April 05, 2010 12:05 PM (pttUG)

35 Of course it did just what they wanted...pay off the multitudes of toadies, hacks, thugs, unions, et. al. that got your sorry asses jobs and that fool elected.

Well done.

Posted by: BigWyo at April 05, 2010 02:40 PM (SafY+)

36 "At this point I interrupted my sister as usual to say,  timesscience

Posted by: timesscience at April 05, 2010 10:02 PM (iccJ7)

Hide Comments | Add Comment | Refresh | Top

Comments are disabled. Post is locked.
83kb generated in CPU 0.5251, elapsed 0.5997 seconds.
64 queries taking 0.5308 seconds, 165 records returned.
Powered by Minx 1.1.6c-pink.