Mr. Drudgehad two important and related headlines today:
7 Months After Stimulus 49 of 50 States Have Lost Jobs
That's right! This press release by the Ranking House Ways and Means Committee Republican, Dave Camp shows that America is "Now Over 6 Million Jobs Shy of [the Obama] Administration's Projections" and says the following:
The table below compares the White House's February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs. To see how stimulus has failed your state, see the table below.
So it's no wonder that Mr. Drudge also links us to newRasmussen poll data, showing Obama's ratings are sinking again with an approval index near all-time lows. Bottom line: Your stimulus package isn't creating jobs, Mr. President, and America knows it, and we're holding you responsible!
The entire argument for the trillion dollar stimulus package that passed into law back in February, was that even though it would dry up productive capital and result in a net loss to the economy over the long run, in the short run it would create much-needed jobs to alleviate the distress of working class Americans.
It hasn't even done that! It was a completely worthless, piece-of-trash legislation that rewarded corporate lobbying interests at the expense of American productivity, true economic recovery, and as we now see, even jobs! I WARNED YOU ABOUT THIS!