Actual Unemployment vs. Obama’s Prediction
The light blue line is the curve the Obama administration said would happen if we passed the stimulus bill. The dark blue curve is what they said would happen if we didn’t. The red dots show what is actually happening.
The graph is from innocentbystanders.net.
As you can see, the Obama administration grossly underestimated the unemployment levels. If you asked Axelrod, I’m sure he’d say “if we didn’t pass the stimulus, unemployment would be even worse!”
The logical come-back would be – “How do you know when you were so certain that unemployment would be so much lower today?”
The fact of the matter is the administration isn’t basing any of its moves on the fundamental laws of economics. They’re pulling shit out of their ass because that’s what they feel like doing.
And our society is paying an awesome price. The aggregate cost of having politicians in our great Washington D.C. halls who are near completely ignorant of the fundamental laws of economics is staggering. But I guess it’s worth it to most to have their feelings massaged by the fact that they believe some mighty leader is looking out for them…
Tags: obama unemployment, prediction
Sunday, November 8th, 2009 at 8:48 am • Economics, Politics • RSS 2.0 feed • leave a response or trackback
Any unemployment data given out by the news media and Government is always slanted. None of them EVER take into consideration the fact that the data DOES NOT account for anyone who is not receiving any benefits anymore. They assume that those people are employed when most of them are just not getting any money at all.