Friday, November 6, 2009

Yeah, About Those Jobs

President Barack Obama warned that unless he got his way -- unless Congress appropriated billions upon billions of dollars in new government spending, unemployment would reach double digits: “If We Don’t Act Swiftly And Boldly, We Could See A Much Deeper Economic Downturn That Could Lead To Double Digit Unemployment," Obama said last January 3, 2009

One month later, he repeated his warning: “[I]f We Don't Act Immediately, Then Millions More Jobs Will Disappear; The National Unemployment Rates Will Approach Double Digits."

Congress caved and gave Obama the vast sums he said he needed to stave off double-digit unemployment.

Bottom line: the Obama plan did not work. Unemployment has now broken the 10 percent mark for the first time in more than two decades.

Senate Republican Leader Mitch McConnell called the Obama plan a failure: “I know the administration shares our goals of job creation and economic growth. But more debt, more spending, higher taxes and growing the size of government clearly has not worked—particularly in a time of double-digit unemployment.”

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