Eight months ago the President signed a $787 billion “stimulus” bill that was rushed through Congress. At the time President Obama Speaker Pelosi and claimed the bill would “save or create” 4 million U.S. jobs. Since then, nearly 3 million jobs have been lost and the unemployment rate has soared from 8.1 percent to a 26-year high of 9.8 percent.  

As the unemployment rate reaches 10 percent for the first time since 1983, the Administration continues to send mixed messages about the economic situation. On one hand, the White House has touted the success of the “stimulus,” saying that it already “added between 600,000 and 1.1 million to employment,” even as unemployment grew.[1]  On the other hand, the President admitted that the “stimulus” has done little for jobs and growth, and argued that more government action needs to be taken, saying, “there is more we need to do. And that’s why today, we’re announcing new steps to support more lending to America’s small businesses—steps that will lead to more jobs, more growth, and a stronger economic recovery.” [2]

The regrettable truth is that the State unemployment numbers for September continue to reveal: since the “stimulus” passed 46 States, the District of Columbia, and Puerto Rico have seen increased unemployment as the spending our way to prosperity policy fails.

 [1] Executive Office of the President Council of Economic Advisers, The Economic Impact of the American Recovery and Reinvestment Act of 2009 First Quarterly Report.  September 10, 2009. [2] The White House, President Obama Announces New Small Business Lending Initiatives.  October 21, 2009.

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