In February when President Obama signed his $787 Billion stimulus plan, he promised 3.5 million new jobs. He also promised a decrease in unemployment, if not an immediate job growth.
But, since passing the bill, according to a Department of Labor report released Friday, national unemployment has soared to 9.4 percent – a 25-year high. And only 150,000 jobs have been created or saved by the Stimulus money, a figure critics say is having little impact on repairing the broken economy. That number also includes summer jobs for teens.
Republicans are seizing the opportunity to knock the President and the Stimulus package. “The Obama administration is continuing to fabricate job creation numbers related to the stimulus,” Tony Fratto, a deputy press secretary in the Bush administration, said in an e-mail message to reporters yesterday, reports the New York Times. “Their so-called models would not stand the light of day.”
House Republican leader, John Boehner joined in. “When they passed this spending plan, Democrats said it would immediately create jobs yet nearly four months later, unemployment has continued to climb and none of their rosy predictions have come true.”
Yesterday, President Obama went on the defensive, holding a meeting with Vice President Joe Biden and his cabinet to address rising unemployment and to take a look at the performance of the Stimulus package. In a move, some onlookers are calling “too ambitious,” the President promised he would create 600,000 new jobs this summer.
“Now I know that there are some who, despite all evidence to the contrary, still don’t believe in the necessity and promise of the recovery act,” Mr. Obama said at the meeting. “I would suggest to them that they talk to the companies who, because of this plan, scrapped the idea of laying off employees and in fact decided to hire employees. Tell that to the Americans who receive that unexpected call saying, ‘Come back to work.’ “