Thursday, August 12, 2010

Is the stimulus working?

This report from the AP should answer that question for you:

Initial claims have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January. The four-week average, which smooths volatility, soared by 14,250 to 473,500, also the highest since late February.

The prospects of more layoffs added to this week's grim outlook for the economy, which began Tuesday when the Federal Reserve lowered its assessment of the recovery.

It's very simple. The $800 billion stimulus was enacted nearly 18 months ago. If it was working, would we currently be approaching highs of jobless claims for the year? The answer, of course, is no.

The question now for voters isn't necessarily whether Obamanomics has worked or not. It's pretty damn clear that it hasn't. Instead voters will be asking themselves, "who should I blame?"

That's not good news for the Party currently controlling massive majorities in Congress and the Presidency.

1 comment:

  1. But...but... things would be WORSE if we hadn't passed the stimulus!! Modern Esquire told me so!!


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