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Obama owns recession

Mon, 07/06/2009 - 12:12pm | posted by Jason Pye

As you can see in the graph below, Christina Romer, an economic advisor to the administration, predicted unemployment to be somewhat better under the so-called “stimulus” plan (p.5) than without it. This was a key selling point to win public support.

It doesn’t take an economist to see that the situtation has been substainially worse as our economy has shed more than 3 million jobs.

Unemployment under Obama

Unfortunately, Keynesian economists and members of Congress are already talking about a second “stimulus” plan, despite the $14 trillion already thrown away bailouts and stimulus.

Looking at this, it’s pretty clear that President Barack Obama has taken ownership of the recession.

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  • Tagged: Barack Obama Economy

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