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May 11, 2009

CBO: Whoops, We Need to Revise Our Deficit Projections Up by a Tad*
* A "Tad" is an Accounting Term Meaning 50%

Months after everyone else projected the deficit would be far higher than the White House "projected," the White House gets around to confirming it. Correction: This is the CBO revising the deficit up from $1.2 trillion to $1.8 trillion. The White House has admitted only an $89 billion correction. (Only an $89 billion correction. Strange days.) Sorry for the conflation of the two.

And the White House admits no job growth through the rest of the year. I'm sure he'll be "saving" millions of jobs, though.

Former AoSHQ commenter Geoff at put together this amazing chart. Below, see in blue Obama's own projections of unemployment -- what he predicted unemployment would be with the Spendulous, and the higher unemployment he predicted we'd have without the Spendulous.

All Geoff added was the red triangles indicating real-world unemployment rates in March and April.

stimulus-vs-unemployment-april.gif

That's right -- the unemployment numbers track exactly with Obama's prediction of what would happen without his Spendulus.

So what has the Spendulus accomplished? According to Obama's own predictions, nothing.

I think this is just an outstanding little chart, and the MSM should be embarrassed that a blogger* did it before it even occurred to them that such amazing technologies were even possible.

* Not even a blogger, really. Innocent Bystanders insists it's not a blog, it's a commenting site where the commenters just happen to post blog entries.



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posted by Ace at 03:47 PM

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