I think it is time to call it "The Obama Recession." Using Obama's own numbers, we are now worse off than we would have been had Obama's stimulus not gone into effect.
Early in the Obama administration, his economic experts put out a report on the predicted effect of his recovery plan on jobs, "American Recovery and Reinvestment Act: Job Impact by Congressional District" . In that document is a reference to another document, "The Job Impact of the American Recovery and Reinvestment Plan" , dated January 10, 2009.
I give you these references and links so you know what is shown below is real. In the second document, a figure shows the predicted unemployment rate with and without President Obama's stimulus package, the one that is supposed to "create or save" 3 million jobs.
That figure from January has been updated for reality through May's unemployment figure, the one just released today (Friday, June 5) by the blog Innocent Bystanders.
The figure should speak for itself. Not only are the actual unemployment numbers worse than predicted with the Recovery Plan, they are worse than predicted had there been no stimulus at all!
Does it get any clearer than this? The "stimulus" was a failure at best, and at worst, a hoax in the first place.
hat tip: Ace of Spades HQ
Update -- Rosslyn Smith writes:
During the stimulus debate, Obama took the dishonest position that Congressional Republicans wanted to do nothing to help the economy recover. It turns out doing nothing might have been the smarter move.
Next time, listen to the strawman