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Tuesday, June 23, 2009

Team Obama: Stimulus Predictions Vs. Reality

June 23 (Bloomberg) -- President Barack Obama said that he expects the U.S. unemployment rate will exceed 10 percent this year, though a second stimulus package isn’t needed yet. (!!!!!!!!!!!!!!!!!)

It's unlikely the press will remind people that Obama previously claimed that his stimulous package would prevent unemployment from reaching 9% He now, less than five months later is admiting it will reach 10% even though we passed his bill.

The blogger, Innocent Bystander put together the chart above. Red Dots show actual unemployment data. Blue lines show predictions of Obama team.

The top chart shows the one thing team Obama, Bernanke and Co, have done very well, which is destroy the value of the dollar.

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