Obamanomics: How's It Doing So Far?
A site called Innocent Bystanders, with which I was not familiar, has done a real service. Geoff, the proprietor, noted this prediction by Barack Obama's economists in January 2009 of what would happen with, and without, the "American Recovery and Reinvestment Plan," better known as the pork bill. Obama's economists summed up their projections neatly in this graph; click to enlarge:
Such concrete projections--unfortunately for Obama--can be checked. Geoff at Innocent Bystander has begun charting reality against Obamanomics, with this graph:
As you can see, we are currently in a little worse shape than Obama's economists predicted we would be without the "stimulus" bill. Does this mean we can conclude that the $800 billion "stimulus" was a failure, that did nothing but drive the country deeper into debt? Does it mean that Obamanomics isn't "saving or creating" millions of jobs after all? Does it suggest that the administration's wild, wasteful spending and impending tax increases are actually destroying jobs? Shouldn't someone at least think to ask these questions at Obama's next press conference?
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