recovery plan

Nearly 9 Million Jobs to be Destroyed or Lost from The Recovery Act

Submitted by MichaelBDR on Sat, 06/20/2009 - 20:01

Dear Leader Zero force fed America a Pie in the Sky with his Recovery and Reinvestment Act. He claimed it would save or create nearly 3.7 million jobs by the end of 2010 compared to the projections for doing nothing to stimulate the economy at all. In fact, it has already caused the destruction and loss of over 2 million jobs beyond what we would have lost if NO Recovery and Reinvestment Act had been passed and will destroy nearly 9 million by September of 2010.

The Chart he used to claim the Recovery and Reinvestment Act showed that with his plan, unemployment would be leveling off by now and be under 8%. Without the Recovery plan, we would be at about 8.2% unemployment right now. Dear Leader ZerO's experience in economics and business assured the Obamabots in Congress that they would save America from a peak of 9.1% unemployment without the Recovery Plan and keep America under a peak of 7.9% unemployment.

The document his Economic team prepared which includes the chart is at:

http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf unemployment-rate-with-and-without-the-recovery-plan-3 Of course, this was all just a shame to sell the Progressives wish list of projects and programs as well as to pay off the organizations that helped him obtain the Presidency. $8.5 Billion for Community Organization Groups like his beloved ACORN and it's 220 front companies, and the like minded entities such as Americorps. Of course, we can't have any Inspector Generals actually investigate wether that money is being wasted or not and possibly bring criminal charges up for any of Dear Leader ZerO's friends and supporters ( http://blogs.abcnews.com/politicalpunch/2009/06/president-obama-fires-controversial-inspector-general-.html , http://www.foxnews.com/story/0,2933,526650,00.html ).

The actual unemployment numbers tell us the real story. May 2009 unemployment of 9.4%. Not only is he NOT saving or creating jobs with his Recovery Plan, but he is destroying them, to the tune of over 2 million so far. The red dots are the actual unemployment rates for the months since the passage of the Recovery Plan. unemployment-rate-with-adn-without-the-recovery-plan-4 Now we get into a whole new chart, because reality is going to be off of Dear Leader ZerO's chart. Based on the actual unemployment rate and projections, we add a 3rd line to the graph and we have a new chart. unemployment-rate-w-and-wo-recovery-act-and-actual Now we are looking at a peak of 14.8% unemployment in September of 2010. We also see we are going to do much worse WITH the Recovery Plan than if we had not spent $787 Billion on Progressive boondoggles.

This brings us to the meat of the numbers. Dear Leader ZerO based his 'save or create 4 million jobs' on how many jobs would be in the space between his red line for the Recovery Act and the yellow line for how many jobs would be lost without his Recovery Plan. This space represents jobs 'saved' if he really knew what he was doing and wasn't just giving America a Snow Job to get his Progressive pals their payback. The projected job savings from the Recovery Act would peak in September of 2010 with a savings of 2,946,539. Based on a Civilian Labor Force of 155,081,000 (May 2009 BLS http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?request_action=wh&graph_name=LN_cpsbref1 ).

The benefits of Dear Leader ZerO's Recovery Plan would not even have met his 3.7 million saved or created predictions. Not even close, it would have been just under 3 million. For it to have met the 3.7 million mark, the Civilian Labor Force would have needed to grow from 155 million to 191 million in less than 2 years time and that would be a very generous projection on the Obamabots part. unemployment-rate-w-and-wo-recovery-act-and-actual-9 In reality, the truth is that his Recovery Plan has already destroyed or lost an additional 2,171,134 jobs over what we would have had without anything being done at all. That would be the space between the yellow line for what the economy was going to do without his Recovery Plan, and the blue line that shows what his Recovery Plan is actually doing for the Economy. unemployment-rate-w-and-wo-recovery-act-and-actual-121 Total unemployment at the end of May 2009 was 14,511,000. Dear Leader Zero's Recovery Plan increased by 15% the amount of people unemployed that would have been without a job if nothing at all had been done. The predicted jobs destroyed and lost from the Recovery Plan will peak in September of 2010 with an extra 8,839,617 unemployed. That is on top of the 14,112,371 we where going to loose anyway from the recession for a total of 22,951,988 jobless in September of 2010! unemployment-rate-w-and-wo-recovery-act-and-actual-10 The projections for the future have a margin of error, that gets larger as we try to predict further into the future. All of these projections are slightly more valid than a crystal ball reading, but not by much. The Gray area is the area of uncertainty, where in fact, anything can happen. unemployment-rate-w-and-wo-recovery-act-and-actual-7 The margin of error would be a large amount as we try to predict past tomorrow. We can still avoid the 14.8% peak if Congress reigns in the spending on boondoggles that produce only make work and no real jobs. It does not make a strong American economy if the government pays one man to shutdown a water pump and put 80,000 other people out of work ( http://www.foxnews.com/story/0,2933,519818,00.html ). unemployment-rate-w-and-wo-recovery-act-and-actual-8 Considering his accuracy with the Recovery Plan, I would not bet much on any predictions for any of his other projects. Dear Leader ZerO will print money to be able to spend the $787 billion for his Recovery Plan and that will lead to huge inflation as that money comes into the economy. Dear Leader ZerO will probably outdo Jimmy Carter's 10.75% peak inflation as he tried to spend his way out of a recession as well. Although Jimmy Carter's peak unemployment was only 7.8%, it was trending up as he left office in 1981 and it took years of tax cuts and government spending cuts to bring unemployment back to a reasonable 5% by March of 1989. I expect we will be in for high unemployment through 2014 and beyond with high inflation for a chaser as Dear Leader ZerO repeats Jimmy Carters mistakes. He is trying to expand his Progressive agenda while claiming to be spending his way out of a recession. He may even meet Franklin D. Roosevelt's record and usher in a new Great Depression.