The Economy by The Numbers

By Max Pappas on September 08, 2010

President Obama's rhetoric about the economy continues to be at odds with the facts.  The "stimulus" depressed the economy. The "Summer of Recovery" saw 283,000 jobs lost.  And today White House Press Briefing Press Secretary Robert Gibbs claimed that “by virtually any measure, our economy is a better place than it was two years ago.”

 Republican House leader John Boehner's office put out the following numbers which show the opposite is true and commented, "Apparently, 'virtually any measure' does not include any of these key economic indicators:"

  • THEN: Unemployment In August 2008: 6.1. percent; 9.4 million unemployed Americans
  • NOW: Unemployment In August 2010: 9.6 percent; 14.9 million unemployed Americans
  • THEN: The National Debt on September 2, 2008: $9.67 trillion
  • NOW: The National Debt on September 2, 2010: $13.44 trillion
  • THEN: The National Deficit in 2008: $400 billion
  • NOW: Projected National Deficit In 2010: $1.34 trillion
  • THEN: Average 2008 Government Compensation: $108,476; Private Sector: $69,928 
  • NOW: Average 2009 Government Compensation: $123,049; Private Sector: $61,051
  • THEN: Number of Homes Lost or Put Into Foreclosure In July 2008: 272,171
  • NOW: Number of Homes Lost or Put Into Foreclosure In July 2010: 325,229

Unfortunately, the unemployment number might be the most shocking of them all (tough call though--trillion dollar deficits and $13 trillion in debt are pretty shocking.)  The Heritage Foundation recently put out this graph showing just how far apart White House forecasts on the effect their "stimulus" spending spree would have on unemployment: 

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For more on the failure of the "stimulus" and unemployment, check out one of our side projects, TruthInJobs.com.

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