Worse Than Nothing

Carol Platt Liebau
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Posted: Jun 13, 2009 4:47 PM
Writing in the Washington Examiner, Newt Gingrich points out that job losses in the wake of the Obama stimulus package are worse than the Administration had projected had the gigantic waste of taxpayer money known as the "stimulus" never been passed.

Recall that in January, the administration argued that without this gigantic redistribution of taxpayer dollars, which have been used to subsidize everything under the sun including fish feed, unemployment in June of 2009 would be 8.7%.  Guess what?  The May rate was 9.4%.  As Gingrich concludes:

If an enterprising White House reporter bothered to do the math, he or she would reach this startling conclusion: Since the passage of the stimulus bill, the U.S. economy has lost one million more jobs than President Obama assured us we would lose if we had done nothing at all.

It's a little depressing to consider just how many other things have probably been made worse by government efforts to "help."