Democrats have longer argued against the tax cuts to empower wealth creation labeling it “voodoo economics” and “trickle down” economics.  Well, as the unemployment rate crossed 10.2% (a point which POTUS Obama said it would not cross with these programs he started), the democrats have been trumpeting that the programs are kick starting a recovery on Wall Street that just hasn’t trickled down to the job market yet.  Ah so, trickle down theories do work?

While we’re being consistent about numbers, let me shed some light on some of the stimulus fall out.  The Obama Administration is claiming that 640,329 jobs were created or saved through October 30th, 2009 via the stimulus bill.  Let’s also consider that the number of employed people fell from roughly 140,436,000 in January to 139,088,000 in October.  That’s 1.3 million jobs lost.  So clearly NO jobs were created by the stimulus bill and any claim along those lines is pure poppycock.  Even if we consider the flawed “saved or created” jobs claims by the Obama Administration at face value, the net would be 707,671 jobs LOST. And that’s with $150 billion spent trying to “create or save” jobs.
Accepting the administration’s flawed numbers, the net is still 707,671 jobs lost!
At the same time the population grew and the number of people eligible to work in the workforce grew, so the country experienced a growth in the number of people reporting unemployment from 13,009,000 in January 2009 to 14,547,000 in October of 2009.  This is 1.5 million additional people unemployed during those 10 months.  Some out there will like to measure based on a per capita basis with the theory that it’s harder to create more jobs with more people in the work force.  The employment-to-population ratio was 59.8% in January of 2009 and fell to 58.8% by October.  We have to go back to the late 1960s before we find a period of time with such low ratios.

To put things in a historical perspective, from January 2000 to January 2009 (the period covering the maligned Bush administration), 5.5 million people were added to the employment rolls.  At the bottom of Obamacare, Cap & Trade and the pork filled Stimulus bill is the economy.  That is what will be the focus of the 2010 mid-term elections.  If, by that point, the democrats in power have pushed through economically disastrous legislation and if the republicans can clearly and simply articulate that and a path away from it, there will be a huge swing in legislative power.  And you know we’re right because just as reader Lynn O. says, “you guys are awesome”.

Note that all job data comes from the Bureau of Labor Statistics using official government numbers.

GorT

GorT is an eight-foot-tall robot from the 51ˢᵗ Century who routinely time-travels to steal expensive technology from the future and return it to the past for retroinvention. The profits from this pay all the Gormogons’ bills, including subsidizing this website. Some of the products he has introduced from the future include oven mitts, the Guinness widget, Oxy-Clean, and Dr. Pepper. Due to his immense cybernetic brain, GorT is able to produce a post in 0.023 seconds and research it in even less time. Only ’Puter spends less time on research. GorT speaks entirely in zeros and ones, but occasionally throws in a ڭ to annoy the Volgi. He is a massive proponent of science, technology, and energy development, and enjoys nothing more than taking the Czar’s more interesting scientific theories, going into the past, publishing them as his own, and then returning to take credit for them. He is the only Gormogon who is capable of doing math. Possessed of incredible strength, he understands the awesome responsibility that follows and only uses it to hurt people.