Unemployment Worse With Stimulus Than Without It

Remember back when Obama was really turning up the scare mongering to pass the Stimulus bill? If not, here’s a quick video reminder:

That last bit is sad. Sad that not one reporter said, “You are unwilling to repeat the failed theories of the last eight years, but you are willing to repeat the failed theories of the last 80. Keynesian economics failed FDR, yet you are attempting to apply them here.”

For example, he suggested back then that if the Stimulus Plan was not passed, unemployment would reach 8.3 percent. That would be a drop of 1.2 percent from the unemployment rate with the Stimulus Plan:

Unemployment hit 9.5 percent in June, according to the Department of Labor, putting the figure 2.5 percent higher than the White House had predicted it would be if a government stimulus spending program went into place. Moreover, the new figure is nearly one percent higher than where the White House said it would be without any stimulus spending at all.

In fact, the White House never predicted that unemployment would rise above nine percent regardless of whether Congress spent the nearly $800 billion in so-called economic stimulus spending it recommended at the time.

…

In fact, Obama’s own estimate shows that the economy might have fared better without any stimulus spending at all. Romer and Bernstein’s projections show that without a stimulus package, unemployment would rise to just above nine percent in December 2009, staying there through most of 2010 before falling off in early 2011.

June’s unemployment numbers are well above what even the Obama administration said they would be if Congress didn’t enact a stimulus plan. In selling the massive new spending, Obama said that economic conditions without the plan would be intolerable.

Obama is now warning that unemployment will reach 10 percent. 10 percent! And this is will his $1 trillion boondoggle.

So what is the plan now? Of course, the Democrats want to spend more:

Paul Krugman says we need another stimulus plan. He says we just aren’t spending enough.

Welcome to the Democrat’s America, where they can’t spend your money fast enough.

Taking a page from Gateway Pundit, I am going to share some graphs with you, showing the disaster the Democrats have created with their meddlesome economic policies:

Krugman, Frank and the other socialist looters think we need to spend more. SPEND MORE!?

This is the thinking of madmen and criminals. It is a failure to learn from past mistakes coupled with the idea that they can take these failed theories and make them work. What arrogance!

After two terms of the “New Deal,” Henry Morgenthau, Treasury Secretary under FDR, said the following:

We have tried spending money. We are spending more than we have ever spent before and it does not work … After eight years of this Administration we have just as much unemployment as when we started … And an enormous debt to boot!

Look at those charts and tell me that this is any different than what they did. It isn’t, save one: FDR didn’t have history to show him this wouldn’t work.

The answer does not lie in the government, but in free people. Stop looting us for our own good. Get out of the way and let us clean up the mess you have made of our country. You are only making it worse.