President Obama admitted his $787 billion stimulus stimulated nothing: “We’re still in the middle of a very deep recession.”

Well, Vice President Joe Biden said there was a 30% chance of failure. We are spending $787 billion to prove once again that Keynesian economics are an abject failure.

In January, then-President-elect Obama said: “If nothing is done, this recession could linger for years.  The unemployment rate could reach double digits.  Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four.  We could lose a generation of potential and promise, as more young Americans are forced to forgo dreams of college or the chance to train for the jobs of the future.  And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world.”

We acted — that is the 53% acted as if support for him were 100% and rammed through the most useless and expensive piece of economic claptrap in the history of the universe.

What do we get 4 months later? An acceleration of unemployment to 9.4%.It is not slowing down. It is not ebbing. Obama has worsened the situation.

Obama admitted today: “We’re still in the middle of a very deep recession” and that “it’s going to take a considerable amount of time for us to pull out of.”

Recessions average 16 months. This one is in its 18th month. This recession would have been over by now.

But thanks to the panic of President Bush and the power-grab by Obama we are headed to double-digit unemployment and double-digit inflation.

Small Dead Animals reported: “US Loses Most Jobs At Fastest Rate In History.”

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