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Stimulus Failed to Keep Unemployment Low

Created on April 2, 2015

Stimulus Failed to Keep Unemployment Low

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President Obama promised that government spending would “stimulate” the economy and quell rising unemployment by “creating or saving” millions of jobs. In January 2009, Obama’s advisers produced a chart visualizing the positive results of his recovery plan, but actual unemployment (in red) far exceeded the White House estimates.

Sources: Unemployment data from the U.S. Department of Labor, Bureau of Labor Statistics; original chart from Christina Romer and Jared Bernstein, “The Job Impact of the American Recovery and Reinvestment Plan,” January 10, 2009.

CHART 13 • SR 165

Tags: Budget-Control-Act, BCA, deficits, entitlements