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Reality Check: Unemployment Has NOT Dropped Faster than the Administration Projected in Selling Their Failed Stimulus Plan

November 21, 2014 — The Jobs Search   

On Wednesday, the White House released a curious chart, attempting to show that unemployment “is dropping faster than projected.”  The chart compared the actual unemployment rate with forecasts made by the Administration in 2010, 2011, 2012, 2013, and 2014:

Notice something missing, given that the President took office in 2009?  Specifically, where’s the “2009 Forecast” line

Here’s what that would look like (comparing the actual unemployment rate with the Administration’s projection in their infamous “Romer-Bernstein Report” used to sell the Democrats’ failed trillion-dollar stimulus law):     

That’s clearly one projection showing how unemployment has NOT dropped faster than the Administration projected.  Indeed, the Administration projected that, under their stimulus policies, we would reach the current 5.8 percent unemployment rate in early 2012.  Instead, Americans have gotten the slowest recovery for jobs ever, with millions dropping out of the labor force altogether.  That’s the opposite of the Administration’s forecast under their 2009 stimulus plan, which in reality delivered millions more unemployed Americans than the Administration projected


SUBCOMMITTEE: Work and Welfare    SUBCOMMITTEE: Full Committee