What does it tell you about competence of the Obama administration? - In February the White House projected October unemployment to be without stimulus : 8.7%, with stimulus : 7.6%. Actual figure (with stimulus) : 10.2%.

by Alexander on November 11th, 2009

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Just Me Nov 12th, 2009 I know it's popular to hate Bush but I think it's ridiculous to say that without the stimulus or with Bush in office that the figure would be higher. People who spout such non-sense don't know how the economy actually works.

One of the problems with all politicians is that they are removed from regular society and have detachment from day to day life concerns. These stimulus packages cost tax payer dollars. So, with increased taxes on the rich, companies do what they can to save money. This means layoffs and job outsourcing to countries like India.

We don't produce anything anymore because it's cheaper to ship back and forth from China (whose economy is booming, by the way) and part of that is becase of high taxes and limitations put on factories by environmentalists. Our country is economically weak and it is not going to improve anytime soon.

What bothers me most is that either people in Washington, just like the average citizen, don't know or don't care. One thing that is happening with this economic breakdown is the public perception of an increased need for government control and programs. People think the role of the government is to take care of them. We are becoming less and less self-reliant and it's killing us as a nation. What does all that mean? Increased taxes, lower production, fewer jobs, more layoffs, etc. The people in power don't mind this because it only means they will have more power under the guise of helping citizens. What it's actually doing is increasing it's power and control over us while limiting our freedom. Let's not even get started on the healthcare reform.

What do I think about the competence of the Obama administration? I think it is quite competetent in that it is doing exactly what it set out to do... and faster than anyone could have possibly imagined.
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- Alexander Thank you very much for this perfect answer.
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buxtonite ..back from the brink Nov 11th, 2009 10.2% is not good ... but it would have been worse if old G.W.B. had still been in ...something like 48%, now looking at that 10.2% is pretty dam good
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- Alexander I do not ask you about whether double digits unemployment is good or bad. I ask you about the accuracy of Obama's projections. Good or not good?
  
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- Moongrim Irrelevant.
  
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Anonymous Nov 11th, 2009 And what would it have been without the stimulus? 15.2%? 20.2%?
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- Alexander According to Obama's own advisers it would be 8.7%. Did you read the question?
  
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- Anonymous I did, and I decided to respond by asking you acknowledge your anti-Obama biases.
  
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Im Alec Nov 11th, 2009 And who got it right? At the moment, nobody really understands what the economy is up to. You can find a pundit , with excellent academic credentials, who will predict and advise almost anything. Basically, we are all lost. The Obama administration is, roughly speaking, going along with the biggest crowd of pundits. That does not necessarily make them right, but since nobody knows what is right, it makes them less crazy than going with an outlier.
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- Alexander Basically, the liberals are all lost, true. And there is clearly growing sense of panic in the liberal camp. What McCain and Palin predicted all along rapidly comes true. And American voters take notice.
  
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Moongrim Nov 12th, 2009 Considering the Bu$h's assertions that Iraq having Weapons of Mass destruction would be in the range of 100%.

A mere 2.8% difference in estimation as opposed to being 100% wrong, is a mere trifle.
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