According to the early January 2009 projections of President Obama’s team, the economy was suppose to have 137,550,000 non-farm payrolls by the end of 2010 if a robust Stimulus was put in place. That would be a gain of 3.5 million jobs in a stretch of 23 months: From February 2009 through the end of 2010. On a monthly average, that would be 152,174 additional jobs. If we keep to this average for the fourteen months since after December 2010, the economy should have produced an additional 2.13 million jobs to a total of 139.68 million jobs by the end of February 2012. But instead, current payrolls stand at 132.4 million. This is a shortfall of 7.2 million jobs than what the Stimulus projected.
Indeed, “everyone predicted a great depression,” claims president Obama. But due to his Stimulus, things are not as bad as expected… But then again, we are short 7.2 million jobs and the Unemployment Rate is at 8.3% instead of the projected 6% only because things were after all worse than expected…
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