The Bureau of Labor Statistics announced Friday that May's unemployment rate soared to 9.4 percent. Once again, Obama administration predictions on the economic impact of the $787 billion stimulus plan have proved wrong.Read it all. Join a tea party near you on July 4, 2009.
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After the stimulus bill was signed into law on Feb. 17, the Obama administration predicted that the unemployment rate this year would average just 8.1 percent. Even as late as May 11, Ms. Romer didn't think the unemployment rate would reach 9.5 percent until December.
What is stunning is the speed at which the unemployment rate is increasing.
Monday, June 08, 2009
Obama Porkulous Bad for Ecomony
Not surprisingly, the Obama porkulous bill has failed to get the unemploymenbt rate under control. Typical of liberal solutions to ecomonic problems, the porkulous bill is making things worse.
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