Obama’s Bogus 8 Million Jobs Saved

Conn Carroll / August 03, 2010

By the only objective standard available, President Barack Obama’s $862 billion economic stimulus has been a complete failure. His administration promised the American people that if the stimulus passed unemployment would never be higher than 8%. It blew past that and hit 10.1% in March 2009 and currently stands at 9.5%.

Faced with this inconvenient truth the President is now falling back on the same failed Keynesian models that betrayed him the first time to make the case that the recession would have been even worse without his policies. So last week on The View President Obama told Elizabeth Hasselbeck: “There was a report that came out by a couple of economists just today, including John McCain’s former economist, that said that had we not taken the steps that we had took, you would have actually seen millions of more jobs lost and we would be in a Great Depression.” (more…)