Chart of the Day: Wasn’t the “stimulus” supposed to keep unemployment down?

Mon, 10/11/2010 - 1:32pm | posted by Jason Pye

Via Dan Mitchell comes this chart that shows monthly unemployment numbers since the passage of the “stimulus” in February of last year. During the debate over passage of the Keynesian-style spending package, the Obama Administration told us that the “stimulus” bill would keep unemployment under 8%.

Of course, unemployment hit as high as 10.1% in October of last year, and high been above 9.5% consecutive months, the longest streak since the Great Depression.

Unemployment Chart

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  • Tagged: Dan Mitchell Deficit Spending Economics Great Depression Great Recession Keynesian Economics Obama administration Spending stimulus Stimulus Bill Unemployment Unemployment Rate
 

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