So, how is Barack Obama doing on the economy?
First things first. It's a good thing Congress passed that "stimulus bill"!
Obama predicted that without the "stimulus" bill the unemployment rate would be around 8% or 9% right now:
As it turns out, -- heh heh -- we're actually in the same or worse place that Obama predicted we would be without the stimulus. Unemployment is at about 8.9% -- figures we haven't seen for about three decades.
(Charts and concept are by Geoff at Innocent Bystanders)
In other words, the billions and trillions Obama and Dems in Congress are spending are not only doing nothing to reduce the unemployment rate, but may actually be hurting.
Of course, we have to remember one salient fact: Obama is, by definition, infallible. Therefore, if it appears that he is screwing up the economy royally, someone need to be "re-educated."
Here's another chart to curl your hair:
Yes, all that red ink on the right is Obama's. We're swimming in it! The White House budget deficit will top an unprecedented $1.8 billion.
Meanwhile, Obama and his administration are making enemies with some of their more heavy-handed tactics.
Yep, it's very hopey-changey, but not very practical. Where it ends up, nobody knows. Obama is betting it all on red.
With the new ideas to pay for health care, who is going to be left working to pay for it. employeers will not be able to fund health care for all employees and pay tax on it, employees will not be able to pay the tax and still eat and pay rent. Maybe it is time for our illustrious congressmen and senators to consider tying their pay, benefits and retirement to what the rest of us have to live with. Social security, that is not real secure, health care that is outrageously expensive, and pay that does not go up annually just because we ignore it like they do. Don't vote on pay and you automatically get a raise. They need a reality check and then to be voted out of office, without lifetime retirement pay.
Posted by: Pat | May 12, 2009 at 09:30 PM