akuma587 said:
They predicted that without a stimulus that unemployment would not get higher than 9%. I don't really see how you can fault them for the fact that the economy actually turned out to be worse than everyone expected. They got those numbers from private sources (i.e. people in the private sector, economic experts, etc.). If anything, it means there was a greater need for a stimulus than they thought. Your argument is essentially like saying that the fire department shouldn't have brought a hose to a fire because the fire was worse than they expected. It really makes no sense. |
Mr. Biden has admitted that the administration "misread" the economy. But he explained that away on ABC's "This Week with George Stephanopoulos" on Sunday by saying the administration had used "the consensus figures and most of the blue chip indexes out there" to draw up its stimulus plan. That's not true.
The Blue Chip consensus is an average of some four dozen economic forecasts. In January, the consensus estimated that GDP for 2009 would shrink by 1.6% and that unemployment would top out at 8.3%. Team Obama assumed both higher GDP growth (it counted on a contraction of 1.2%) and lower peak unemployment (8.1%) than the consensus.
http://online.wsj.com/article/SB124709502661214861.html
Not only that, what makes you think that the stimulus money saved ANY jobs? You take an immeasurable metric, and then say it's working, just the problem was worse than you thought.
A better analogy is the fire department brought enough music to the fire to blast songs at it for 3 hours. The fire burned longer than expected, all because they didn’t bring enough music.
Millions of people said this was not going to work, yet we are all wrong when it didn’t? Fucking open your eyes man. You just pissed away $780 billion, and proved us right. Now your argument is you didn’t piss away enough. Unreal.
