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.
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.
Obama isn’t trying to fix the economy, he is doing his level best to bankrupt America and take over all the big companies and banks. Obama has not done one thing for this country since he took office.