Monday, June 8, 2009

What Stimulus? Obama Makes Even More Promises

President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into primarily government jobs.

However, the promise of more jobs seems at the very least ingenious, as many of the promised jobs Obama announced Monday already were in the works.

While Obama and his supporters continue to blame Bush for the bad economy, the unemployment rate has now now risen to 9.4 percent, the highest in more than 25 years. Hundreds of thousands of Americans continue to lose jobs each month.

Obama has claimed as many as 150,000 jobs saved or created by his stimulus plan so far, a number that cannot be measured nor verified, even as government reports have shown the economy has lost more than 1.6 million jobs since Congress approved funding for the program in February.

In short, we'll know the stimulus is working when, and only when, the unemployment numbers actually start to decline, as opposed to being less than expected.

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