Jul 14 2009

Remember, President Obama Claims His Economic Plan Is Working!

The economic train wreck is now pretty much unavoidable. The deficit numbers out for June make that clear, and assuming the same employment disaster for the next few months, President Obama and the Congressional Dems are on a path of historic economic screw ups.  The Wall Street Journal has some of the sobering data out today:

The average work week for rank-and-file employees in the private sector, roughly 80% of the work force, slipped to 33 hours. That’s 48 minutes a week less than before the recession began, the lowest level since the government began tracking such data 45 years ago. Full-time workers are being downgraded to part time as businesses slash labor costs to remain above water, and factories are operating at only 65% of capacity. If Americans were still clocking those extra 48 minutes a week now, the same aggregate amount of work would get done with 3.3 million fewer employees, which means that if it were not for the shorter work week the jobless rate would be 11.7%, not 9.5% (which far exceeds the 8% rate projected by the Obama administration).

– The average length of official unemployment increased to 24.5 weeks, the longest since government began tracking this data in 1948. The number of long-term unemployed (i.e., for 27 weeks or more) has now jumped to 4.4 million, an all-time high.

Sadly, this is just a small snippet of the bad news. And yet, the liberal Dems claim everything is going according to plan. It is his economy since it is his plan, working as expected. He deserves all the credit now. 

I lost the link, but someone did note that if President Obama had run on mammoth deficits, government control of health care and higher energy prices to force lower consumption he would not be President right now. Check out the deficit spending picture:

All that wasted money, and nothing to show for it. What is worse, the Obama administration’s lousy ability to accurately project the impact of their hair brain schemes is just as bad with the deficits as it is with the jobs:

The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to $1.09 trillion. The administration forecasts that the deficit for the entire year will hit $1.84 trillion in October.

Folks, we still have three months of the fiscal year yet and we already surpassed the deficit predictions and are on the way to $1.84 trillion deficit. In fact, if you project out the year to date numbers for three more months the Obama deficit for his first year in office will be staggering $2.5-2.8 trillion dollars!

The problem is twofold. The liberal economic stimulus scheme did not stimulate the economy (we are now told it was never supposed to until later this year). But as people are out of work or working at lower wage, part time jobs the tax revenues are dropping off. Higher spending plus lower revenues – you would think any Ivy League school graduate could do that math.

It is pathetic and so damaging it will take us years to recover from the liberal economic stupidity. These fools have bankrupt all of our futures on liberal fantasies. Fairy tales about how government can solve all problems and bring Nirvanna to Earth. Now we know the truth, we see the results of their plans. And it will be getting worse still.

14 responses so far

14 Responses to “Remember, President Obama Claims His Economic Plan Is Working!”

  1. Terrye says:

    You know what scares me? We will get in so deep we can not get out. That is what scares me.

  2. WWS says:

    Terrye – we ARE in so deep that we can’t get out.

    This is not reversible without a decade of pain. No matter who wins the next elections.

  3. daniel ortega says:

    Well, it just depends on what el-presidente means by the verb “working”.
    I say it is leftist misdirection. You need to be more familiar with this.

    Here is what I think “working” means:

    The “hijacking” of the US Government has been long since planned by Marxists like George Soros, and Zbigniew Brzezinski. The fact of the this very serious matter is, Obama knows more about the old Russian Constitution then he does the US Constitution. Let me explain.

    Obama is recruited at Columbia University by Marxist CIA Officer and Professor

    When attending Columbia University as an Indonesian foreign student, Obama was one of eight students recruited by Brzezinski to study “Sovietology”. By this time, Brzezinski had worked his way up the ladder in the CIA to become one of its’ top officers.

    “Brzezinski, a CIA expert on the Soviet Union, teaches international relations and is the head of the Institute for Communist Affairs at Columbia.”

    Brzezinski wrote a book called “The Grand Chess Board”, which is a blueprint for world domination by a one world government, led by he and his Marxist cronies, of course. Using the USA’s innovation and wealth, Brzezinski talks about taking over Eurasia and more. Here are some quotes from The Grand Chess Board:


    That was from http://repubx.com and represents one of the two most prominent theories about the Manchurian candidate.

    Am I sure of this theory? No. Am I sure of the other theory about
    Obama being a moslem operating in Taqiyya? No.

    But am I sure that he a Manchurian candidate? Si.

    If he was just stupid and inexperienced, then once in a while
    he would do something that helped America. And he has not made
    that error since his election. Every little thing he does is tragic.
    There is an evil intelligence behind seemingly naive manoeuvres.

    And the Left makes a big error here. In most times, the elite of the Left
    assume safely that their communist laws do not actually apply to them,
    that there is a place of safety where they can go and have the wine, women, and thong. But this time they are wrong.

    Imagine the world with no USA. What happens next?
    Somebody should make a movie. Not beautiful.

  4. penguin2 says:

    AJ, from the beginning, you and others said the “stimulus would not work.” In fact, many of us knew that, because the stimulus was full of expanded government initiatives and programs, whose only purpose was to increase the dependency of the populace on government. This is in either in the form of government jobs or government handouts, note his extension of unemployment benefits and increase in the food stamp dollars. The “porkulus” bill was also filled with all kinds of start up funds for new government programs, including nationalized health care.

    I believe Obama and his henchmen/women, never intended it to work. It was a slight of hand to grow government’s power behind the guise of doing ‘something’ to help the economy. They also had been counting on the economy turning around on it’s own enough to make it look like ‘his’ plan had worked and thus he would be able to take credit for the turn around.

    Two factors have prevented this. One is the obvious mechanical and logistical failure of that kind of program to actually provide a healthy solution for an ailing economy and two, which I think has been overlooked or underestimated, is the psychological impact of the Dems being in power and the effect of the Obama ascendancy to power. I believe it was you who posted graphs about economic well-being during Dem administrations and Rep. ones. Clearly since the Dems took over in 2007, a negativity in our growth has occurred. IMO, since Obama was elected in 2008, there is a deep underlying lack of confidence from the business and personal sector that instinctively, the people know this administration is no good for us and for the country.

  5. kathie says:

    I’m quite sure Obama and his gang didn’t understand how bad the economy was. Because if they had they wouldn’t have used the crisis in such a cavalier way, as a reason to pass nationalized health care and cap and trade. Of course the wealthy are going to have their taxes raised and my bet others as well to help get us out of the depression. On top of having taxes raised to help get us out of this depression, he is going to tax them again to pay for nationalized medical care? And then he is going to tax everybody again with cap and trade? I ask, with medical insurance and cap and trade hanging over the economy, why would any one hire a single soul. And secondly, this government has complete miss the amount of wealth that has been lost and will take years and years to regain, if not generations.

    He thinks he is going to put people to work building green, OK, but who is going to be able to buy green at a new great expense? He thought he would force people to do it with cap and trade. But where is the money to do anything beside subsist? This is a, when ideas hit the reality check, moment. This whole Presidency is, when ideas hit a reality check. And we have tons of oil and gas to be mined and we are think about taxing marijuana! We are in for a very rough ride!

  6. rhoan says:

    Sarah Palin is the definition of common sense, honesty and perseverance. The integrity of her message resonates and needs no parsing.

  7. kathie says:

    I say he must not of known or understood the magnitude of the recession, thinking that Obama didn’t want to be a failure and one term President.

  8. Neo says:

    I think Obama and his economic team thought that this was merely a “crisis of confidence,” meaning the economy would resume as soon as the feeling of “panic” was abated, so targeting the “stimulus” just was that important. As a matter of fact, I think you could have sold that idea up until GM went into bankruptcy. At that point, the banks had been tested and GM and Chrysler were “dealt with” so the feeling of crisis had abated, but it set the stage for the current situation.
    Once there was a feeling that the worst of the crisis was over, the Obama agenda was left there, naked for all to see.
    As the weeks have progressed, the unease of the underlying future consequences of the current “cap and trade” (somehow called an energy bill) and Obamacare bills started to suck the oxygen out of the normal recovery process.

  9. […] Air Macsmind The Strata-Sphere (here, too) Sister Toldjah Stop the ACLU Gateway Pundit Protein Wisdom Blue Crab Boulevard Share and […]

  10. […] AJ Strata: The problem is twofold. The liberal economic stimulus scheme did not stimulate the economy (we are now told it was never supposed to until later this year). But as people are out of work or working at lower wage, part time jobs the tax revenues are dropping off. Higher spending plus lower revenues – you would think any Ivy League school graduate could do that math. […]

  11. […] Remember, President Obama Claims His Economic Plan Is Working! […]

  12. Neo says:

    Somewhere, on some blog (maybe this one, but I think not) during the thick of last year’s campaign, an Obama supporter asked the question … won’t you concede that the election is about who gets to split up the spoils ?

    The (most benign) alternate interpretation of why the “stimulus” was so badly targeted is that those who put it together always thought that the previous “stimulus”-s were purely a “spoils distribution” and they decided that it would be different this time.
    While this interpretation is not necessarily based on ill-will on the part of the participants, it is scary none-the-less.

    By the way, I don’t believe elections are the basis of who gets to split up the “spoils” and I responded that way.

  13. […] Hot Air, Pajamas Media, QandO, The Strata-Sphere, Stop The ACLU and Balloon […]

  14. […] And as to emphasize what I posted this morning on the high probability this year’s deficit will hit a mind boggling $2.5-2.8 $1.84 trillion, […]