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As Unemployment Mounts, Failure of Stimulus Leads Millions of Americans to Ask “Where Are the Jobs?”

August 17, 2010

President Obama heads to Ohio tomorrow to continue to sell his economic “stimulus” plan.  One slight problem though – Americans simply don’t believe his stimulus plan is working.  As Abraham Lincoln famously said, “You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all of the time.”  And a quick look at the facts explains why so few Americans are fooled by the President’s proclamation of stimulus success:

  1. Democrats promised their stimulus would create millions of jobs.  It hasn’t. 
  2. Democrats promised stimulus would keep unemployment below 8%.  It hasn’t.
    • Instead unemployment reached 10% and remains stuck near that level today.
    • In addition to that high official unemployment, millions of other Americans simply dropped out of the labor force – what some call the uncounted unemployed.
  3. The flood of deficit spending from Democrats’ policies has driven the debt to an astonishing $13 trillion.  That debt is so huge it is already hurting job creation. 
    • Using the Administration’s own forecasts, the surge in debt caused by stimulus and other Democrat policies has already destroyed 1 million jobs.
    • Unemployment and debt have soared by a combined 60% since President Obama took office.  That’s an “Obama Misery Index” that reflects current and future damage caused by Democrats’ failed policies.
  4. While the job situation seems to have finally stopped getting worse, the trickle of private sector job creation in 2010 is so anemic that at the current rate it would take until 2017 to recover the jobs lost during the recession. 
  5. However, Democrats’ agenda has helped one industry – government.