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by Nick Coons
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As the unemployment rate reaches up to 9.8% and another 785,000 jobs were lost in September, Vice President Joe Biden is cheer-leading that the stimulus is working beyond his "wildest dreams."
When Obama's administration pushed the stimulus, back when unemployment is far less, they warned that unemployment would reach 8.5% if the stimulus was not passed. 8.5% unemployment is looking pretty good right now. The truth is that government meddling in the economy has very little power to do good, but huge power to do harm; and that's exactly what government meddling does.
Biden claims that the stimulus has saved or created one million jobs. It's hard to tell what that means, since nearly three million jobs have been lost since the stimulus was passed. Maybe he's saying that we would have lost four million jobs if not for the stimulus, which is a perfectly valid claim to make, but it would be nice to know what his data is? How is he determining that?
As usual, the government provides no logical explanation for its claims. They just spew garbage and expect that we're not smart enough to question or reject it.
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Germany Provides Insights into Stimulus - Mike Renzulli
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