Yet. It’s not working yet. Just wait until next year when the spending really kicks in. After the economy’s, er, already started to recover.
Plus, it’s already “created or saved” not quite one-tenth the total number of jobs lost. That’s worth upwards of a trillion dollars, isn’t it?
Neither the acceleration nor the jobs goal are new. Both represent a White House repackaging of promises and projects to blunt criticism that the effects haven’t been worth the historic price tag. And the job estimate is so murky, it can never be verified.
The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama’s handling of the economy has declined along with the jobs data.
For the first time, the administration admitted the economic forecasts it used to sell the stimulus were overly optimistic…
Some analysts believe the White House is still not being realistic, that Obama will be lucky if any real job creation from his recovery effort is seen by the end of the year, let alone the employment explosion he predicts.
“I think these estimates are overly optimistic,” said Arpitha Bykere, a senior analyst with RGE Monitor…
Several economists said Monday the economy is unlikely to see much boost from the stimulus before next year.
Via Frank Strategies, a quickie recap of poor economies then and now. Rest assured, if/when unemployment does start to bounce back, Papa O’s generosity with our money will be given ample credit. No matter when it happens.