THE HILL
 

The numbers don't lie

By Ron Christie - 09/04/09 08:33 AM ET

The numbers don't lie. I read in The Washington Post this morning about how the administration was touting the economic recovery due to the so-called stimulus package passed earlier this year. Here's what Vice President Joe Biden noted in a speech released yesterday by the White House quoted by the Post:
 

"The Recovery Act has played a significant role in changing the trajectory of our economy and changing the conversation about  the economy in this country," Biden said in a speech at the Brookings Institution, a Washington think tank. "Instead of talking about the beginning of a depression, we are talking about the end of a recession."


Well, the Labor Department just released the unemployment numbers a few moments ago and unemployment is now at 9.7 percent — the highest level in our nation since June 1983. More than 216,000 Americans lost their job last month and nearly one out of every 10 Americans is out of a job, and the administration is crowing about how the pork-laden stimulus bill is "changing the trajectory of our economy and changing the conversation about the economy?"

So far as I can see, the trajectory of unemployment continues to rise and the conversations I hear about people keeping their jobs remains tense. As for the White House? Its numbers and rosy optimism just don't add up.

Source:
http://thehill.com/blogs/pundits-blog/economy-a-budget/57303-the-numbers-dont-lie

Comments (13)

Well..let's see..I'll just roll out the ol' trusty crystal ball and take a peek for ya…hmm..cloudy with a chance of rain..Well..absent a decent reading we'll just have to do it the old fashioned way. I think if you really examine all the relevant factors (housing starts/rates of foreclosure/debt to GDP ratio/lag time in recovering from most major manufacturing losses/unprecedented savings trend(where there was virtually none)/housing sales etc..you might see a clearer picture. Just using one measure (regardless of where you stand on the issue) is, in my opinion, misleading. I mean..you could cite the 40 billion repayment by TARP recipients as a "good sign" but don't be too sure. We still don't know who has those toxic loans. So..I guess if you are a critic of the administration and a pessimist, the glass is half full and emptying quickly. If you are somewhat objective, I would suggest that people examine all the factors and see what the numbers really say and maybe how those numbers are to be interpreted.BY Bill G. on 09/04/2009 at 10:01
Most economists will tell you that unemployment numbers typically do continue rising for months after the rebound begins. Most economists believe the unemployment numbers will continue to rise until January. Perhaps you should talk with some reputable economists instead of spouting off your uninformed opinions, Ron.BY Melissa on 09/04/2009 at 11:07
I have no dog in this poleconomical fight. Both sides are right and both sides are wrong. So maybe if everyone justs keeps their opinions to themselves for awhile maybe we all can stop looking like asses.BY Dave on 09/04/2009 at 11:49
You're right on, Ron. Keep on trucking. The majority of the American people are correct. If you want to see the economy rebound faster, return the rest of the pork (stimulus) money to taxpayers.BY Howard on 09/06/2009 at 09:49
Mr Christie, what may be little understood about Mr Jones comment about Republicans being ASS HOLES is that he was not talking about all Republicans, he was talking about YOU.And of course, he was right.BY Richard Hart on 09/06/2009 at 09:49
Boy if this was a republican party could you imagine what the media would be saying about this economy. They would be calling it a depression with no end in sight and unemployment the real numbers would be touted at 15 or 16 percent. They would be telling you no jobs in sight and no help on the way it would go on and on. Melisa quit drinking the cool-aid Obama lies every time he opens his mouth!BY William on 09/07/2009 at 12:57
There is an article today, in The Telegraph.uk they are reporting of two US economists saying that all the spending being done in Washington now, will turn us into a 3rd World country very soon.I am of the opinion, that this is what was planned all along.BY Bobc on 09/08/2009 at 09:56
mr. christie, what were you doing around this time last year? pumping up the noise for john ( the economy is going swimmingly) mccain ? your detachment from the veracity of cause-and-effect is stunning.BY jim larkin on 09/09/2009 at 10:07
" YOU LIE ! "…wheeew, that was fun…classic patrick henry/nathan hale vibe…good times.BY jim larkin on 09/10/2009 at 10:26
I just heard Ron Christie say he looked at Factcheck.org and he said it did not substantiate President Obama's statement that illegal aliens would not be covered.I went there one minute later and it DOES SUBSTANTIATE MR. OBAMA'S CLAIM!!!!!!!Eit her Mr. Christie is lying or he did not read the article.BY Richard Solis on 09/11/2009 at 18:45

Add Comment

Name (required)

E-Mail (will not be published) (required)

Your Comments

You need Flash Player 8 (or higher) and JavaScript enabled to view this content

Get latest news from The Hill direct to your inbox, RSS reader and mobile devices.