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  • Infographic: Obama's Promise vs. Reality in the October Jobs Report

    Travel in time back to January 2009 when President Barack Obama’s advisers painted a portrait of the future under the President’s recovery plan. It turns out that their prediction was much rosier than reality.

    With the plan, they predicted in their chart, unemployment today would be somewhere in the neighborhood of 6.5 percent. Today, after the President’s $787 billion stimulus, unemployment still stands at 9 percent. In a new paper, Heritage’s Rea Hederman, Jr. and James Sherk write, “The labor market is adding jobs and holding steady but not improving fast enough to make up for the depths of the great recession.”

    In the chart below, see the difference between the Obama’s advisers’ predictions (in blue) and where we are today (in red).

    Posted in Featured [slideshow_deploy]

    10 Responses to Infographic: Obama's Promise vs. Reality in the October Jobs Report

    1. Doesn't this debunk Pelosi's claim that unemployment would be 15% if the stimulus wasn't passed? If the stimulus wasn't passed, according to the Obama administration, it would be just over 7%; two points LOWER than it is now.


      • donnie says:

        Soooo not true

      • Carl says:

        Which means that the extent of the problem was much bigger than people thought, not that the stimulus didn't help. The truth is, the impact of the housing bubble and financial sector meltdown was so great, that stimulus or no stimulus we were in big trouble. According to a majority of economists though, we would have been in worse shape without the stimulus. The merits of the stimulus can be debated endlessly, and we will never really know. But, what got us into this mess is pretty clear: financial deregulation.

    2. Bob says:

      Gosh int this a lovely promise from those that are so caring and concerned?

    3. Pete says:

      Anyone that listens to Pelosi is missing a few cards from their deck. Before the election in 2008 she was an incomprehensible babbler. I could not believe that the house voted her as their illustrious majority leader. The same goes for Harry Reid. Blame the Republicans for nothing getting done. He is doing a pretty good job of doing nothing since the 2010 fall elections. We should have put Obama, Reid, and Pelosi in the last space shuttle flight with only enought fuel to get out of the earths orbit and sent them off into space. When they called to inquire about the return trip, the congress could respond that since a budget was not done, they would be on their own. Much like alot of the american people that are on their own with no hope of help.

    4. Mutantone says:

      You have to love the fact that the numbers still do not count all those hat have lost their unemployment benefits because they ran out, so the number shown is only those that still have some unemployment benefits left so it is even worse than stated.

    5. William Severn says:

      The problems with these numbers is that the article doesn't designate how many new government jobs were created that the American Taxpayer will pay for. If anyone knew the real numbers of what jobs were paid by government subsidies and the number of government jobs compared the number of free market jobs, the American Taxpayers would understand why the National deficit is going up $100,000 per second. The number of people being added to the tax burden by becoming inmates is going up. The number of people being deemed disabled to collect social security is going up. The number of elderly that have lost 401k accounts to a failed economy are going up. The number of homeless is going up. http://www.data360.org/dsg.aspx?Data_Set_Group_Idhttp://www.census.gov/govs/apes/ http://articles.businessinsider.com/2010-01-05/wahttp://www.usatoday.com/news/nation/2008-10-21-ho

      • Manny says:

        Actually, most of the increases in unemployment were due to cutting gov't jobs.

        You see, when local and state gov't cut jobs, that is really what made the recession even more painful. Private sector job growth has been very solid under Obama. It's the public sector that has been the problem:

    6. Economics Student says:

      Haha, the graphs are purposely skewered (quarters instead of months), and the lowest point of the Y axis on the first chart is 6%. By the time the stimulus was even rolled out, unemployment had already breached 8%. The economy was losing over half a million jobs/month. Within 6 months, this bottomed out and the economy has gained about 2 million jobs.

    7. Liberal Libra says:

      Mitt Romney Economics Started this Recession.
      MItt Romney/Repuke Economics will end this recession…. with the end of the American Empire.

      You dumb Americans will vote for Romney as if he offers anything new, when in fact he's exactly like Bush! And if you really believe he will be anything BUT a pragmatic Progressive Conservative President, then you're even more high than those Obama supporters!

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