July 6, 2013

Updating — And Extending — the Obama Administration-Ben Bernanke ‘Stimulus’ Graph

Filed under: Economy,Taxes & Government — Tom @ 12:35 am

Let’s look at history, plus the great plan Barack Obama and Ben Bernanke have for the next two years:

ObamaBernankeStimulusChartThru2015

(2007-2013 portion charted by Steven Goddard at Real Science)

Two years from now, according to Obama and Bernanke, the unemployment rate, which is currently over 50% higher than Team Obama said it would be right now (June’s 7.6% divided by the promised 5.0%), will still, in their “ideal scenario,” be 30% higher (6.5% vs. 5.0%) — and that’s before considering the suffering induced by trends toward temporary and part-time work caused by pervasive uncertainty and impending Obamacare.

Reality will likely vary — in the wrong direction.

The obvious response (I know, Bernanke is supposedly a Republican — Give me a flippin’ break):

Party of compassion my a**.

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2 Comments

  1. Look at the moment the stimulus graph was put out. The rate of increase has been steady for one year as the recession was continuing. The rate then increased and reached a maximum. The rate of decrease since then has paralleled the predicted rate on the with recovery graph. Notice that the without stimulus had a lower rate of decrease in the percentage of unemployed as the both get back to stable unemployment at the same time.

    This shows that either they believed the stimulus would result in either hiring OR people giving up and just accepting the dole.

    The slow rate of decrease–as we have seen since the “end” of the recession is from people leaving the workforce. And this is the rate of decrease they predicted.

    If you believe their goal is reduce the workforce and increase dependency, this graph supports that view. Of course they thought the stimulus would result in a temporary increase in jobs, but they forget anything the government “creates” is taken from the private sector. Be it money, jobs, or debt.

    Comment by Scott Landmann — July 7, 2013 @ 8:51 pm

  2. Also, as they were correct on the slope they may be correct on the duration of decrease. If so the rate will plateau now or soon as remain separated from what was achieved less than a decade ago. The press will redefine full employment and “all is well.”. But hey, they voted for it, I’m sad for the country but I’m OK.

    Comment by Scott Landmann — July 8, 2013 @ 8:55 pm

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