Gee, and it only took six months! Yesterday, MS-NBC’s Chuck Todd asked White House press secretary Robert Gibbs when the time will come to judge the success of the stimulus package Barack Obama pushed Congress to pass. Gibbs says we can start now:
Now that we can actually hold Obama accountable, what has the stimulus done? Joblessness has gone to 9.4%, and even Barack Obama admits that it’s on its way to double digits. While Obama ran re-runs for his weekly radio address, the Republicans demanded to know where the jobs are. Porkulus money has actually slowed as the administration fumbled its “ramp-up” of stimulus spending.
Thanks to Gibbs, though, when jobs fail to appear and the economy remains mired, we know who to blame. It won’t be Bush, either, but Obama and the Democrats who spent $800 billion on a non-stimulating stimulus, instead of allowing capital to remain in the market and to build solid economic growth. The first test for this will be next Thursday, when the BLS announces the jobless rate for June. If it goes up — and indications this month show new claims rising each week — Obama will own it.