rssIs This What Failure Looks Like?
Friday, April 02, 2010 at 2:29 pm
- 11 Comments
Republicans today have been quick to use the Dept. of Labor’s new employment numbers as evidence that the Democrats’ efforts to stimulate the economy over the last year have failed.
House Minority Whip Eric Cantor (R-Va.), for example, issued a statement arguing that no long-term recovery can happen until “Washington stops actively impeding economic growth.” And Rep. Tom Price (R-Ga.), who heads the Republican Study Committee, said “we have still yet to see the robust private sector job creation the Obama administration promised would come from its $862 billion failed stimulus.”
It’s a curious tactic, considering that (1) the economy created 162,000 jobs last month — 114,000 when census hiring is excluded; (2) that the “failed stimulus” included more than $300 billion in tax cuts for businesses and individuals, which is the same strategy that GOP leaders have argued would most effectively grow the economy; and (3) that 162,000 is quite an improvement above the 700,000+ jobs that were being shed each month when Obama moved into the White House.
Case in point: this graph from House Speaker Nancy Pelosi (D-Calif.).
11 Comments
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Comment posted April 2, 2010 @ 7:08 pm
You forget that the teabaggerz still haven't figured out that they pay less taxes under Obama than they did under Bush.
I don't think charts and graphs get thru to people as ignorant as we're talking about…
Comment posted April 2, 2010 @ 8:35 pm
Of course it tapered off! That is common sense. No matter whom was President, no matter how many hundreds of billions spent, job losses would “taper off.” The Administration's problem is that it claimed the stimulus would keep unemployment under 8%. It did not. The question becomes whether the $862 billion stimulus was responsibile for tapering it off – and the clear answer is “no.”
The tax relief you mention was a small check sent to Americans, not pro-growth tax relief that creates jobs. Sending people a $500 tax rebate is nice, but does nothing to create a job.
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Comment posted April 5, 2010 @ 2:26 pm
Sign the tier 5 unemployment petition!
http://www.change.org/petitions/view/the_99ers_…
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