Thursday, October 29, 2009

Good thing we passed that stimulus bill

In February of this year President Obama painted a pretty grim picture of the future of the US economy if swift and decisive action was not taken in passing his stimulus bill.  His stimulus bill would save or create four million jobs. With the stimulus, unemployment would peak at just under 8 percent.  If nothing was done, we'd lose five million jobs and unemployment would peak at 9 percent. 

So how have the White House's projections faired thus far?  After losing another two or three million more jobs, we're only off the pace by a little over six million jobs.  Unemployment?  It now stands at 9.8 percent.  

Good thing we passed that stimulus bill, huh?

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