One Year Later…. Stimulus Failure By The Numbers

NJ Republican State Committee Press Release

One Year After February 17 Signing Of Stimulus, 17 Numbers You Need To Know

• 3.5 MILLION: Jobs Obama Promised Stimulus Would Create By End Of 2010. (President Barack Obama, Remarks At The Signing Of The American Recovery And Reinvestment Act, Press Release, Denver, CO, 2/17/09)

• 2.8 MILLION: Jobs Lost Since Obama Made That Promise. (U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• 6.3 MILLION: Jobs Obama Must Now Create To Keep Promise By End Of 2010.Press Release, Denver, CO, 2/17/09; U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• 1.1 MILLION: Jobs Obama\’s Economists Project Will Be Created By End Of 2010. (David Jackson, \”Obama Economic Report: Stagnant Job Growth This Year,\” USA Today, 2/11/10)

• 5.2 MILLION: Jobs By Which Obama\’s Economists\’ Projection Leaves Him Short In Keeping Promise. (U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10; David Jackson, \”Obama Economic Report: Stagnant Job Growth This Year,\” USA Today, 2/11/10)

• 6 PERCENT: Not Surprisingly, Number Of Americans That Say Obama\’s Stimulus Created Jobs. (Stephanie Condon, \”Poll: Economy Brings Down Obama\’s Job Approval Rating,\”CBS News\’ \”Political Hotsheet\” Blog, 2/11/10)

• 7.7 PERCENT: Unemployment Rate When Obama Was Selling Stimulus In January 2009. (U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• 8 PERCENT: Unemployment Rate Obama Pledged Stimulus Would Prevent Us From Reaching. (Christina Romer and Jared Bernstein, \”The Job Impact Of The American Recovery And Reinvestment Plan,\” 1/9/09)

• 9.7 PERCENT: Current Unemployment Rate. (U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• 16.5 PERCENT: Current Unemployment Rate When Underemployed And Discouraged Workers Are Included. (Sara Murray, \”Signs Of Hope As Jobless Rate Dips,\” The Wall Street Journal, 2/6/10)

• 334,000: Americans That Have Given Up Looking For A Job Since Stimulus Was Signed. (U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• 47: States That Have Lost Jobs Since Stimulus Was Signed. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• 10: States That Moved From Single-Digit To Double-Digit Unemployment Rate Since Stimulus Was Signed. (U.S. Bureau Of Labor Statistics, www.bls.gov, Accessed 2/16/10)

• $862 BILLION: Updated Cost Of Stimulus, $75 Billion Increase From Last Year\’s Cost Estimate. (\”The Budget And Economic Outlook: Fiscal Years 2010 To 2010,\” Congressional Budget Office, 1/26/10; Douglas Elmendor, Director, Congressional Budget Office, Letter To Speaker Nancy Pelosi, 2/13/09)

• 440: Number Of Nonexistent Congressional Districts That Received Stimulus Funds. Houston Chronicle, 11/18/09)

• $6.4 BILLION: Amount Of Stimulus Funds That Went To Nonexistent Congressional Districts. (Richard S. Dunham, \”Site Lists Jobs In Imaginary Texas Districts,\” Houston Chronicle, 11/18/09)

• $18 MILLION: Cost Of Stimulus Website, Recovery.gov. (Rick Klein, \”$18M Being Spent To Redesign Recovery.gov Web Site,\” ABC News\’ \”The Note\” Blog, 7/8/09)