President Obama has presided over the worst loss of jobs of any President since World War II. What happened to the 8% peak were were promised if the stimulus passed?
USA Today reported:
Even before Barack Obama took the oath of office, his economic advisers projected that without hundreds of billions of dollars in government spending, the U.S. economy could lose another 3 million to 4 million jobs on top of the 3.1 million lost in 2008.
It turns out they were optimistic. Even with the $787 billion stimulus package that Obama signed in February, more than 4 million jobs have been lost in 2009, the worst year for job losses since World War II. The jobless rate that advisers projected would peak at 8% has topped 10%.
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