Of course the stimulus was a bust
Last Friday’s Department of Labor jobs report, which showed private sector job creation fell by 190,000 between April and May of this year […]
In total the U.S. economy has now lost a net of 2.2 million jobs since President Barack Obama signed his stimulus bill, and his administration is now 7.2 million jobs short of what he promised his $862 billion stimulus would help create by 2010.
This morning on MSNBC, former Rep. Joe Scarborough (R-FL) pressed prominent Keynesian economist and director of the Earth Institute at Columbia University Jeffrey Sachs on whether it was too early to declare President Obama’s stimulus a failure. Scarborough had to ask the question twice, but Sachs finally relented: “It did fail.”
The one thing that sticks out in the early days of the Obama administration and its push for the stimulus bill was the focus on jobs. Remember all the talk of “shovel ready” jobs that were part of public works projects that just needed that boost of Federal cash to get them off the ground?
Remember the Vice-President running around the country lying about the number of jobs “created or saved” on such-and-such project?
Meanwhile, the most glaring aspect of this bogus “recovery” is the lack of any job creation at all. And they continue to lie about job creation and the “success” of the stimulus.
Smoke and mirrors, people. Smoke and mirrors.