Nobama’s Stimulus Chart: Updated for June 2012 Actuals
Mr. Obama asserted again Friday that the problem is that Congress won’t pass his jobs plan. The first stimulus was supposed to produce growth that would by now have the jobless rate under 6%. So now we are supposed to believe that Stimulus II will do the trick.
If there is a silver lining in the jobs report, it is that we might see more Democrats in Congress break with the White House and acknowledge that falling off the January 2013 tax cliff could have damaging consequences. Calling off all the planned tax hikes on employers and investors would be the best way to get employment back on a faster upward trajectory.