Thursday, June 9, 2011
The Daily Snark 6/9
Does anything else need to be said? Pretty clearly, those "wonderkids" in the Obama Administration had no actual idea as to what they were doing when they spent nearly $800 billion on the Stimulus. In fact, by their own numbers, we would have been better off not spending a dime of that and keeping the debt lower. A 6.5% unemployment rate right now is a laughable notion, but there's the prediction. The multiplier effect government spending was magically supposed to have surprisingly didn't happen. Of course, no reason was ever put forward for why it would occur, but who can blame the top economic officials in the nation for not having a plausible reason for their wildly optimistic projections?
Now apply this same level of accuracy to the Left's forecast of ObamaCare and entitlement spending and you will see why I am concerned.
(chart from economics21.org)