A Miserable Failure

That’s the Obama administration’s “stimulus” plan, which mainly stimulated Democratic constituencies with great gobs of pork. The web site Innocent Bystanders has done a service by plotting the actual unemployment rate against the Obama administration’s prediction of what would happen with and without the “stimulus.” Here is the latest, updated through June; click to enlarge:

stimulus-vs-unemployment-june-dots.gif

The administration’s forecast provides a benchmark against which we can judge the success or failure of the $700 billion porkapalooza. The result is obvious: it was a failure. The best thing Congress could do is to cancel the rest of the program–the large majority that remains unspent–and let the economy recover without being hampered by government-imposed inefficiencies.

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