Jul 11 2009

The President Of Denial

Published by at 11:59 pm under Measuring The Recovery

I seriously have my doubts about the Obama Administration’s new plan to deal with the failed liberal stimulus experiment by employing a heavy dose of  aloof denial:

President Barack Obama said his $787 billion stimulus bill “has worked as intended” as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.

“It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.”

And yet it has clearly failed – as the following graph illustrates. The dark blue lower line was the promised result, the middle light blue line was what would happen if we did nothing, and the red line is what we got from the liberals’ failed experiment.


What does this young and inexperienced president think he is doing? How can he say it is working as intended when it has failed to even come close his administration’s promised results? Who does he think he is kidding?

“As a result of the swift and aggressive action we took in the first few months of this year, we’ve been able to pull our financial system and our economy back from the brink,” he said, deflecting calls for a new round of stimulus spending and saying that his plan was intended to work not in a few months but over two years.

Emphasis mine. Look at those projections from the Obama administration again and note where they said we would be right now. Of course they promised their fantasy liberal experiment would have an immediate impact – it’s their damn chart and their damn blue lines! Now it seems the administration is try to move the gold posts, pretending there never was any hope of immediate help for jobs:

In an advanced text of his weekly radio speech, Obama said the stimulus plan approved by Congress and signed into law in mid-February “was not designed to work in four months — it was designed to work over two years.”

In their initial projections from January they predicted the job losses would have leveled off now and would be heading towards job growth. Not in 48 months, in 4 months. It’s their chart, their promise to America.

Obama is admitting what many have been saying, a turn around in jobs will not happen for OVER A YEAR.

Just eight of 51 economists in The Wall Street Journal’s latest forecasting survey said more stimulus is necessary, suggesting an average of about $600 billion in additional spending. On average, the economists forecast an unemployment rate of at least 10% through next June, with a decline to 9.5% by December 2010.

All of a sudden the real plan, the secret hidden plan, has come out. Instead of fixing the economy this year, with their just as ridiculous predictions of strong fourth quarter growth, the plan now is months and months of economic hell:

Onward, then, to the toughest economic challenge Summers [Director of the US president’s National Economic Council] faces today: the recession. Here, Summers turns sombre: “I don’t think the worst is over … It’s very likely that more jobs will be lost. It would not be surprising if GDP has not yet reached its low.

But according to President Obama is plan is working, it is on track, all is going as planned! If President Obama and the Dems think America will buy this pile of denial they are truly delusional.

In fact, if Obama wants to accelerate his demise and bring the GOP back to life, he couldn’t pick a better plan. And if that is his real plan (to screw up so badly on US jobs he brings the GOP back from the brink of oblivion), then that effort really is working!

Voters now trust Republicans more than Democrats on eight out of 10 key electoral issues, including, for the second straight month, the top issue of the economy. They’ve also narrowed the gap on the remaining two issues, the traditionally Democratic strong suits of health care and education.

As a strategy to address the continuing degradation in the job market, the act of aloof denial is definitely unique. It will fail, but it sure is novel.

21 responses so far

21 Responses to “The President Of Denial”

  1. Neo says:

    Behind The Meltdown: Many Americans are unaware of the causes of the greatest economic calamity of our lifetime. A new congressional report details how government politicized housing, wrecking the economy.