Friday, October 02, 2009

You Are Here

Don Surber offers this graph to show us where we were told we'd be with, and without, the stimulus plan. Of course, we're at 9.8% un-employment today. Click here to read his post.

FoxNews has the real un-employment number of 17%.

If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994.

U/T: Instapundit

UPDATE 10.5 Another graph on the subject by Harvard Prof. Greg Mankiw.

When the Obama stimulus plan was proposed, the president's economic team put out a report in January 2009 that purported to show what would happen with and without the fiscal stimulus. The chart above is from page four that report, together with the actual results over the past couple months. As you can see, the actual outcome is significantly worse than the projection with the stimulus plan and is, in fact, roughly on track with what was projected without the stimulus.

What does this mean? One interpretation is that the fiscal stimulus has failed to achieve what Team Obama thought it would.

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