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A Non-economist’s view of the Economy

The federal govt released a report on the economy—you know, the one they’re saying is good and getting better—that one. The report, written by the White House’s Council of Economic Advisers, a group of 3 economists who were hand-picked by the pres, says in a nutshell that the “Stimulus” has added or saved just under 2.4 million jobs. Let’s see; the Stimulus has cost us, so far, $666 billion. Put another way, those 2.4 million jobs cost us $278,000 each. Somehow, to this non-economist, that’s not a good deal for anyone. How about this: the government could have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and we taxpayers would be $427 billion ahead.

But wait, but wait, there’s more. The council also reports that, put in taxpayer-English, over the past six months, the economy would have added or saved more jobs without the “Stimulus” than it has with it. In comparison to how things would otherwise have been, the “Stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

The administration’s own Bureau of Labor Statistics stats show the unemployment rate was 7.3% when the “Stimulus” was being debated. It has since risen to 9.1%. And the national debt at the end of 2008, effectively when Obama took office, was $9.98 trillion. It’s now $14.4 trillion — and counting.

There’s no debate on the validity of these numbers. All sides also seem to agree on this key point: The economy would now be generating job growth at a faster rate if there had been no “Stimulus.”

What mystifies me is that why, with all the evidence to the contrary, Obama and his supporters continue to assert that their policies and actions are making positive results. Maybe they define things differently from most folks…like the words marriage and diversity and economics and…? But, don’t worry; this won’t have any negative effect on our national security. Oops.

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