Obama on the stimulus: Hey, at least unemployment’s not at 15%

posted at 10:09 pm on June 30, 2010 by Allahpundit

Remember back before he was sworn in, when his economic team was pushing that chart that showed unemployment topping out at eight percent or so if we gave him whatever moneybomb he asked for? Those days are looooong gone; now, instead of talking about how much higher the unemployment rate is than he thought it’d be, we’re talking about how much higher it could have been without that $787 billion bomb. And the nice thing about that, of course, is that he can slap any horrifying figure he wants on his worst-case scenario to make the current figures look rosy. For the moment he’s restricting himself to “12 or 13 or 15 percent,” but if he’s staring at a giant Republican wave come October, I bet that estimate will bump up to 20 or 25 percent in no time. Keep moving those goalposts, champ.

Oh, by the way: Not only is it entirely untrue that “every economist who’s looked at it said that the recovery [act] did its job,” but not even every Keynesian who’s looked at said it did its job. Click the image to watch.


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I can’t watch it. He lies all the time.

It makes me sick that the leader of our country lies constantly.

blue13326 on June 30, 2010 at 10:13 PM

Obama = pathetic. Truly.

Edouard on June 30, 2010 at 10:13 PM

Somebody needs to nominate him for the Nobel Economics prize… I mean c’mon… he CONTROLS unemployment rates…

Though you have to wonder… if he’s got unemployment under control at 10%… why can’t he get it lower?

Skywise on June 30, 2010 at 10:13 PM

I still have yet to see a single presentation or article that discusses the specifics of how the stimulus saved anything. Can anyone out there provide a link?

Here’s a mice WSJ article that talks about how Obamanomics has failed: http://bit.ly/cwB5hU

cannonball on June 30, 2010 at 10:13 PM

mice = nice

cannonball on June 30, 2010 at 10:14 PM

Yeah, so he’s a huge, lazy, lying, socialist moron…what’s your point? We’re just lucky to have him.

AUINSC on June 30, 2010 at 10:14 PM

If his lips moves ,then LIES sprout forth .
Friday we will see that O GOSHMAN has no double and triple counted Census jobs to count and the stock market will be killed

ELMO Q on June 30, 2010 at 10:14 PM

this guy is the biggest loser ive ever seen.

moonbatkiller on June 30, 2010 at 10:16 PM

So much for that 8% goal.

SoulGlo on June 30, 2010 at 10:16 PM

Stop spending

ninjapirate on June 30, 2010 at 10:17 PM

So, the next time I’m caught speeding;

“Hey, at least I wasn’t going 105 mph!”

Hope this works….

massrighty on June 30, 2010 at 10:17 PM

Just saw Karl Rove on Greta “He ought to stop…..He ought to……He’s better than this.” Oh shut up. He is not.

Marcus on June 30, 2010 at 10:18 PM

Is he talking about the unemployment or how much leadership he as applied to the Gulf?

Electrongod on June 30, 2010 at 10:19 PM

Actually, unemployment is 15%. It’s more like 16%, as economists and pundits regularly remind us.

J.E. Dyer on June 30, 2010 at 10:19 PM

Also if it weren’t for PBHO’s wise policy decisons Iran would be working on a nuke program AND a biowar program, the oceans would have dried up from global warming, Boston would have been destroyed by terrorists, a reemerging black plague would have killed half the nation, and gold would be worthless.

The man is a genius, a frickin’ genius.

Bishop on June 30, 2010 at 10:20 PM

J.E. Dyer on June 30, 2010 at 10:19 PM

+1

d1carter on June 30, 2010 at 10:21 PM

Accusatory response from The Race Card in 5,4,3…

massrighty on June 30, 2010 at 10:20 PM

I have my WonderWoman bracelets on, so I can easily repel (as usual) anything coming from The Race Card.

SouthernGent on June 30, 2010 at 10:21 PM

Those people in the audience – how can they sit there and soak this crap up?

Eren on June 30, 2010 at 10:22 PM

Obama needs to be reminded every day that he spent 100 million dollars of other people’s money in order to have the privilege of assuming the task at hand.

So it does no good to say that things are bad because of the mess he inherited. And it does no good to talk of how bad things could have been. He campaigned with the promise of fixing the economy.

Promise not fulfilled. And come 2012, the electorate will fire him.

keep the change on June 30, 2010 at 10:23 PM

Thomas Sowell had another one of his eye-opening/common sense columns a couple of weeks ago about a table in the book Out of Work: Unemployment and Government in Twentieth-Century America that listed unemployment rates for every month during the entire decade of the 1930s.

Those who think that the stock-market crash in October 1929 is what caused the huge unemployment rates of the 1930s will have a hard time reconciling that belief with the data in that table.

Although the big stock-market crash occurred in October 1929, unemployment never reached double digits in any of the 12 months after that crash. Unemployment peaked at 9 percent, two months after the stock market crashed — and then began drifting generally downward over the next six months, falling to 6.3 percent by June 1930.

This was what happened in the market, before the federal government decided to “do something.”…

Hoover intervened in June 1930, with these results (my emphasis):

Within six months after this government intervention, unemployment shot up into double digits — and stayed in double digits in every month throughout the entire remainder of the 1930s, as the Roosevelt administration expanded federal intervention far beyond what Hoover had started.

INC on June 30, 2010 at 10:23 PM

SouthernGent on June 30, 2010 at 10:21 PM

Your prior post appears to have been moderated.

massrighty on June 30, 2010 at 10:23 PM

I have my WonderWoman bracelets on, so I can easily repel (as usual) anything coming from The Race Card.

SouthernGent on June 30, 2010 at 10:21 PM

You leave another comment like the one you left and you won’t have to worry about him. Don’t racialize things that have no business being racialized. First and last warning.

Allahpundit on June 30, 2010 at 10:24 PM

Duck and cover!

Bishop on June 30, 2010 at 10:25 PM

J.E. Dyer on June 30, 2010 at 10:19 PM

Actually, I’ve read that the ‘real’ rate is around 20%

So he’s ‘right’, but not in a good way.

CPT. Charles on June 30, 2010 at 10:25 PM

Economic illiteracy is the foundation upon which the Progressive/Modern Liberal/statist ideology is built.

Libs will come out of the woodwork to argue about their interpretation of the Constitution, ad hominem attacks, etc. but when it comes to economics 101….stone cold silence.

I’m a former Lib…once I learned the basics of economics I gave up on the Progressive ideology forever. It’s pure folly.

visions on June 30, 2010 at 10:26 PM

Its all Bush’s fault that unemployment is not at 12 , 13 or 15 %.

macncheez on June 30, 2010 at 10:26 PM

What an idiot… use scare-tactics claiming a worst-case scenario of 9% unemployment if you DON’T have the stimulus, get the stimulus, get prolonged 9.9% unemployment, then say “Well, at least it’s not 15%.”

My response to him, if I were there, would be “If you keep screwing up like you are, we’ll be there soon.”

teke184 on June 30, 2010 at 10:26 PM

Fail to the Chief…

ronsfi on June 30, 2010 at 10:28 PM

Hey, I have just thought of a GREAT IDEA…!

Let’s elect Barack Hussein Obowma as President of the United States!

… WHO’S WITH ME???

Seven Percent Solution on June 30, 2010 at 10:28 PM

Kind of off topic but in regards to the new movie about Obama’s life and childhood :

A scene showing Obama, who is a Christian, praying like a Muslim was dropped as it was deemed “too political”, Dematra said.

Read more: http://www.nypost.com/p/entertainment/movies/movie_based_on_us_president_childhood_BYHGe4mCzMMx2vTrhCgauK#ixzz0sOTIX9rF

CWforFreedom on June 30, 2010 at 10:29 PM

Geez… c’mon people.

He can’t suck unemployment up with a straw.

The Ugly American on June 30, 2010 at 10:29 PM

The June unemployment report will be released on Friday, and it might not be very good at all, so Obama is lowering expectations.

Emperor Norton on June 30, 2010 at 10:30 PM

I’ve seen late night infomercial pitch men with more credibility. What’s that? 8% unemployment can be mine for one low payment of 800 Billion? But wait, there’s more?

trubble on June 30, 2010 at 10:32 PM

We should have an office pool to guess the date on which the unemployment rate is identical to the amount of GDP which goes to debt. Double the jackpot if you guess the day AND the percentage correctly.

Bishop on June 30, 2010 at 10:33 PM

yet.

29Victor on June 30, 2010 at 10:34 PM

The June unemployment report will be released on Friday, and it might not be very good at all, so Obama is lowering expectations.

Emperor Norton on June 30, 2010 at 10:30 PM

Truth.
Especially with the drawdown in Census jobs.
The numbers will likely be brutal.

And, no way to hide the decline!

massrighty on June 30, 2010 at 10:34 PM

Thomas Sowell had another one of his eye-opening/common sense columns a couple of weeks ago about a table in the book Out of Work: Unemployment and Government in Twentieth-Century America that listed unemployment rates for every month during the entire decade of the 1930s.

Those who think that the stock-market crash in October 1929 is what caused the huge unemployment rates of the 1930s will have a hard time reconciling that belief with the data in that table.

Although the big stock-market crash occurred in October 1929, unemployment never reached double digits in any of the 12 months after that crash. Unemployment peaked at 9 percent, two months after the stock market crashed — and then began drifting generally downward over the next six months, falling to 6.3 percent by June 1930.

This was what happened in the market, before the federal government decided to “do something.”…

Hoover intervened in June 1930, with these results (my emphasis):

Within six months after this government intervention, unemployment shot up into double digits — and stayed in double digits in every month throughout the entire remainder of the 1930s, as the Roosevelt administration expanded federal intervention far beyond what Hoover had started.

INC on June 30, 2010 at 10:23 PM

He also writes about that in “Intellectuals and Society.” I’m about halfway through, it’s an incredible book.

visions on June 30, 2010 at 10:35 PM

United States Labour Department
=================================

http://www.bls.gov/news.release/empsit.nr0.htm
——————————–

United States Unemployment Rate

http://www.tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=USD
——————————–

Historical Labor Force/Unemployment Data for
UNITED STATES

http://www.nidataplus.com/lfeus1.htm

canopfor on June 30, 2010 at 10:36 PM

The numbers will likely be brutal.

And, no way to hide the decline!

massrighty on June 30, 2010 at 10:34 PM

What do you mean…?

… According to the press, there is no oil leak in the Gulf, spending Trillions in debt is kewl, and not a single soldier has died in Iraq or Afghanistan since Obowma took office.

Seven Percent Solution on June 30, 2010 at 10:40 PM

I dont get why he hasn’t climbed the mount, extended his arms and command the unemployment rate to disappear???

the Coondawg on June 30, 2010 at 10:40 PM

Yeah, unemployment isn’t at 15%. Try 17-20% for a true figure. But then Barry and truth are strangers to one another.

GarandFan on June 30, 2010 at 10:42 PM

he is a straight up habitual liar, plain and simple. its a sickness.

trailortrash on June 30, 2010 at 10:43 PM

I dont get why he hasn’t climbed the mount, extended his arms and command the unemployment rate to disappear???

the Coondawg on June 30, 2010 at 10:40 PM

He’s busy reducing Ocean levels.
He’s busy closing Gitmo.

He’s busy (insert un-kept promise here.)

massrighty on June 30, 2010 at 10:43 PM

Not only is it entirely untrue that “every economist who’s looked at it said that the recovery [act] did its job,” but not even every Keynesian who’s looked at said it did its job.

Plug the Damn Hole!
Kick Somebody’s Ass!
Close that Prison!
Let me Be Clear!
Where’s my Clubs?
Get my economists on the horn!

ted c on June 30, 2010 at 10:46 PM

He also writes about that in “Intellectuals and Society.” I’m about halfway through, it’s an incredible book.

visions on June 30, 2010 at 10:35 PM

–great book—i’m reading it too—still….

ted c on June 30, 2010 at 10:47 PM

Good job democrat voters. You really stuck it to big business.

Inanemergencydial on June 30, 2010 at 10:48 PM

Speaking of roads,
——————-

Obama Porkway: Road Built With Stimulus Money Will Bear President’s Name
================

Two hundred jobs will be created to build the first $10.5 million phase of the road, which will connect with Metrowest Boulevard.

http://michellemalkin.com/2010/06/19/obama-porkway-road-built-with-stimulus-money-to-bear-presidents-name/

canopfor on June 30, 2010 at 10:48 PM

Actually, unemployment is 15%. It’s more like 16%, as economists and pundits regularly remind us.

J.E. Dyer on June 30, 2010 at 10:19 PM

The last actual unemp #, including those that filed longer than 6mo’s ago, or have stopped looking, I saw was 17.3%.

Archimedes on June 30, 2010 at 10:49 PM

I can’t believe this is the a*hole that beat us in 2008. He was suppose to be the king of PR, but it’s been two years of flubs and stupid stuff like this. He is utterly clueless, very stupid.

Apologetic California on June 30, 2010 at 11:00 PM

Goal post, moved yet again.

ThePrez on June 30, 2010 at 11:10 PM

Don’t worry… it will make it… TO INFINITY AND BEYOND!

CynicalOptimist on June 30, 2010 at 11:13 PM

I don’t bother watching, all he does is dish out plate after plate of abject provable lies. Teleprompter seances for stupid people.

So we supposed to be happy the unemployment isn’t 15% and the fact that we never get back the 8 million jobs as Bite Me said? Reagan BTW created 18.5 million jobs in his two terms, so seems like it’s quite possible you could get 8 million in four years, if you actually wanted to do that.

However I think Obowma’s goal is to enslave Americans, with debt so large it can never be repaid. Chickens coming home to roost so to speak. Now who was it that said that?

tarpon on June 30, 2010 at 11:15 PM

I can’t watch it. He lies all the time.

It makes me sick that the leader of our country lies constantly.

blue13326 on June 30, 2010 at 10:13 PM

You should watch that clip. That was so painful it was funny. Oh man, I am so looking forward to 2012. Can you imagine this kind of rhetoric coming from his mouth in a desperate attempt to save his (thin)skin?

“Obama 2012: Hey it could’ve been worse”

Doughboy on June 30, 2010 at 11:15 PM

It makes my heart sick and sad when I remember all the good words that he spoke and now all his broken promises. A man who so dishonors his own country is worse than a snake. My father was the first to see through the lies of this fork tongued serpent. My father had much sharper eyes than the rest of our people. One might as well expect rivers to run backwards than to expect any truth or honor from this man. From where the sun now stands I will keep calling upon the Great Spirit to drive Chief Golfsalot from this land.

Hinmahtooyahlatkek on June 30, 2010 at 11:16 PM

Those people in the audience – how can they sit there and soak this crap up?

Eren on June 30, 2010 at 10:22 PM

..have you noticed how the background crowds are thinning out and more and more look like comatose, drooling, mouth-breathers? I’m guessing that the 52% is dwindling.

The War Planner on June 30, 2010 at 11:25 PM

I’ve seen late night infomercial pitch men with more credibility. What’s that? 8% unemployment can be mine for one low payment of 800 Billion? But wait, there’s more?

trubble on June 30, 2010 at 10:32 PM

+100 “A Lot More – just pay separate processing and handling…”

Who is John Galt on June 30, 2010 at 11:28 PM

Ya notice how every single time Obama gets challenged, he has to fly to a city that’s friendly to him (at taxpayer expense), have his media team set up a Potemkin “Oprah stylized” stage set complete with adoring fans, then answer the challenge with his dripping, sarcastic condescension (Biden would call it “being a smart@ss)?

Thin skin Obama should do us all a favor and save us billions of tax dollars and either resign and become a blogger and answer his critics online, or just start using twitter for all his childish, smart@ss rebuttals.

And by the way, as I’ve said so many times already, narcissistic big mouths who are in love with the sound of their own voice leave a ginormous trail of their words behind, which eventually come back to bite them in the rear, as everyone is beginning to figure out (even CBS). So stay tuned…Obama will be eating many more crap sandwiches of his own making in the near future.

OxyCon on June 30, 2010 at 11:57 PM

The meltdown begins.

novaculus on July 1, 2010 at 12:15 AM

I really hate clicking on A/V of this moronic man who is now the POTUS ~ :(.

I am beginning to have nightmares – going mad I say.

hawkman on July 1, 2010 at 12:15 AM

cannot and will not click on video. The only thing worse than his lies and spin is the “media” who enables him (and the fools who voted for and continue to support him). I simply can’t take any more of this crap. November can’t get here soon enough.

Yakko77 on July 1, 2010 at 12:26 AM

…God what a pathetic loser this President is and the people that support him.

……could democrats possibly lower the bar any further with this “at least it’s not 15%”.

We should start an Obama “move the goalposts” site…..I am sure we could come up with some great ones.

……”Hey, at least ALL the jobs are not gone”</em>


………”At ALL the banks are not ripping off the Tarp money”….



…….”At least I didn’t ask for 800 TRILLION dollars for my failed stimulus”



……”At least my lies about my Health Care bill being deficit neutral, quality of care not going down,and premiums not going up won’t really hurt Americans until I am out of office”



…….”At least my failure to regulate BP and provide a credible response to a major disaster will only harm the Gulf coast….lots of people have plenty of other beaches to go to…..”

Yea Man…thank God the adults are in charge!!!!

Baxter Greene on July 1, 2010 at 12:28 AM

From where the sun now stands I will keep calling upon the Great Spirit to drive Chief Golfsalot from this land.

Hinmahtooyahlatkek on June 30, 2010 at 11:16 PM


That is absolute gold!!!!

Baxter Greene on July 1, 2010 at 12:31 AM

He might as well be saying; “I’m Rick James biatch!” “What’d the hand say to the face? SLAP!”

ray on July 1, 2010 at 12:42 AM

… but at least we don’t have an ass hole as President
… wait a second .. we do

J_Crater on July 1, 2010 at 1:08 AM

In the movie “Downfall”. One of the guys who is in charge of defending Berlin asks Gobbles about the civilians that are still left in Berlin.
Gobbles tells him that the people gave them the mandate, so screw them, what ever happens to them, it’s their own fault

BruceB on July 1, 2010 at 1:09 AM

Well, if unemployment isn’t at 15% yet, give Comrade Barack a break – he’s only been at it for 17 months, and it IS his first real job, you know.
`
`
Give him another two years with a Democratic Congress, and 15% is no problem, baby!
`
`
Now, I know the actual % of unemployed workers is always higher than the official number because the latter excludes those no longer actively looking for work. The so-called “discouraged workers” have always been with us, but the separate number wasn’t measured until the early ’80s, and has always ranged from 1.2% to 1.8%, no matter what the economy was doing at the time (the figures were always mentioned during Republican Administrations, but never made the news during Clinton or Obama years, wonder why?).
`
So some actual data would be nice. Is the number of discouraged workers now so high? Or is the claim of current 15-17% “true unemployment” including other categories not measured by the Labor Department?

Adjoran on July 1, 2010 at 3:16 AM

now, instead of talking about how much higher the unemployment rate is than he thought it’d be, we’re talking about how much higher it could have been without that $787 billion bomb. And the nice thing about that, of course, is that he can slap any horrifying figure he wants on his worst-case scenario to make the current figures look rosy. For the moment he’s restricting himself to “12 or 13 or 15 percent,”

As sure as night follows day, statements that begin with, “Things would have been much worse if we hadn’t … ” are followed by an unproveable assumption unsupported by any empirical evidence. 

ya2daup on July 1, 2010 at 3:53 AM

The money quote from this video
along with Harry Ried’s
“we’ve only lost xxx jobs, and that’s good news” video
need to be in every campaign ad this October/November.

Lockstein13 on July 1, 2010 at 4:08 AM

I can’t watch it. He lies all the time.

It makes me sick that the leader of our country lies constantly.

blue13326 on June 30, 2010 at 10:13 PM

copy that

cmsinaz on July 1, 2010 at 5:57 AM

CPT. Charles on June 30, 2010 at 10:25 PM

The Bozo’s lying again. His own administration reports the official full unemployment rate at close to 17% according to table A15. That is what we used to call the U6 number. In reality ( a difficult concept for him, I know ) unemployment is over 25% when one adds up all the people that are inconvenient for the Department of Labor to count.

dogsoldier on July 1, 2010 at 6:50 AM

In his way he told the truth, the only economists he listens to told him worked.

rob verdi on July 1, 2010 at 6:51 AM

Perhaps he misread his own chart back when he proposed the stimulus and they mislabeled the lines, so that the norm would be unemployment peaking around 8% and the ‘stimulus’ would get it to 10%…

In that case it is overperforming! The magic of government spending to increase unemployment is not a bug, but a feature.

ajacksonian on July 1, 2010 at 7:20 AM

Are the people in the audience getting paid to be there? I mean who in there right mind can sit with a straight face and listen to this BS?

iceman1960 on July 1, 2010 at 7:36 AM

That comment will very likely come back to haunt him and the democratic party. The unemployment rate is heading up.

thgrant on July 1, 2010 at 7:47 AM

B. Mulroney. Ex-PM of Canada.

His tenure as Prime Minister was marked by the introduction of highly contentious economic reforms, such as the Canada-U.S. Free Trade Agreement and the Goods and Services Tax, and the failure of equally contentious constitutional reforms

-from Wikipedia.
Mulroney was swept into power by big promises of sweeping “reforms” and a popular revulsion with the corruption of the Liberal Party which preceded him. It quickly became apparent that he and his cronies were even more corrupt and deceptive, both personally and politically. His popularity sank like a stone, to where he is now remembered as the most reviled PM evah.
Here it is happening again in the US.
I’ll never forget walking into a bar in the late eighties and seeing Mulroney on the TV giving another speech. The sound on the TV was off. The bartender glances up at it then turns to me and says “He’s lying again.”
Mulroney’s party was swept out of power in the next elections so badly that they had to, in essence, dissolve and start over.
There is hope people.
We wait for November.

PaddyJ on July 1, 2010 at 7:47 AM

I’m not watching another clip of this guy until his 2012 concession speech.

pugwriter on July 1, 2010 at 8:15 AM

This dope could say he was responsible for ensuring the sun rose every morning and his fawning admirers would believe him.

John Deaux on July 1, 2010 at 8:17 AM

“Your husband is in a permanently vegitative state, but at least he’s not dead.”

Oops, forgot. It’s OK to kill him now. Maybe that’s the point.

Mr. Grump on July 1, 2010 at 8:57 AM

I know one person I would like to be unemployed…no names mentioned but the initials are Barry Obama.

Wade on July 1, 2010 at 9:09 AM

I’m not watching another clip of this guy until his 2012 concession speech.

pugwriter on July 1, 2010 at 8:15 AM

Why would you want to watch that? After all he’s just going to blame bush.

Oldnuke on July 1, 2010 at 9:23 AM

Actually, unemployment is 15%. It’s more like 16%, as economists and pundits regularly remind us.

J.E. Dyer on June 30, 2010 at 10:19 PM

Well at least it’s not 25% !!

/

cableguy615 on July 1, 2010 at 9:34 AM

More shovel-ready lies from the most inexperienced and incompetent President since Jimmy Carter.

Good Lt on July 1, 2010 at 9:50 AM

Hey – at least unemployment isn’t 100%!

See? The stimulus worked. Now pull the lever for the D’s, you racists.

Good Lt on July 1, 2010 at 9:51 AM

Buck Ofama. Buck him right in the November.

Western_Civ on July 1, 2010 at 10:00 AM

So this is Hope and Change. Funny. I thought it would look different.

Oh wait a minute: no I didn’t. I knew exactly what we were getting. Those who couldn’t be bothered to take off their rose-colored glasses? Up yours.

Physics Geek on July 1, 2010 at 10:36 AM

I can’t believe people actually believe this bafoon. The lies come so easy for him, and the gullible lap them up like a hungry lion on a gazelle.

Jan Schakowski spoke with Bill Hemmer this morning, and blatantly lied. Which is all Democrats seem to know how to do these days. She said more jobs have been created with Obama’s policies, and no jobs were created under Bush.

They’ll continue this mantra…but the sad reality is….there are still to many people out there that believe it. It’s just sad!!!

capejasmine on July 1, 2010 at 11:17 AM

I cannot and will not willingly listen to this this hideous monstrosity called the President. He is an oozing pustule on the face of this nation and needs to be excised with greatest possible expediency.

LarryG on July 1, 2010 at 12:24 PM

That’s the best you can come up with, Jug-ears?
What a worthless, incompetent sack of excrement. Even if we flush this turd in 2012, will it be too late?

Extrafishy on July 1, 2010 at 1:17 PM