Monthly reminder: The stimulus was and is an epic failure
July’s unemployment rate – still at 9.5% – came out last Friday, so it’s time for yet another reminder of what an epic failure the stimulus was and is.
Remember the standard that I’m comparing the stimulus to is the standard Obama and Reid set for the stimulus themselves. They used the chart below to justify passage of the stimulus and believers in the free market should use it now to show how bankrupt Obama and Reid’s economic policies are.
And unfortunately, the bad news keeps coming. Nevada’s unemployment rate – already the nation’s highest – will be substantially higher than the national rate, once state data is released.
Two things: Since the first stimulus was such an object failure, why are Obama and Reid trying to pass another one?
Also, this is the perfect reminder of why it’s not the government’s job to create jobs. When the government tries to create jobs, it simply make things worse.
Good intentions are not enough. Ideas have consequences and when the government institutes bad policy, bad results follow.