Tuesday, May 12, 2009

It's a good thing we had the stimulus bill

Just think how it would be without it. [Link]

Months after everyone else projected the deficit would be far higher than the White House "projected," the White House gets around to confirming it. Correction: This is the CBO revising the deficit up from $1.2 trillion to $1.8 trillion. The White House has admitted only an $89 billion correction. (Only an $89 billion correction. Strange days.) Sorry for the conflation of the two.

And the White House admits no job growth through the rest of the year. I'm sure he'll be "saving" millions of jobs, though.

Former AoSHQ commenter Geoff at put together this amazing chart. Below, see in blue Obama's own projections of unemployment -- what he predicted unemployment would be with the Spendulous, and the higher unemployment he predicted we'd have without the Spendulous.

All Geoff added was the red triangles indicating real-world unemployment rates in March and April.

That's right -- the unemployment numbers track exactly with Obama's prediction of what would happen without his Spendulus.

So what has the Spendulus accomplished? According to Obama's own predictions, nothing.

It has accomplished something, we're all deeper in debt.

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