Imagine you’re Chief Executive of a company. A year after you’ve put a product on the market that your product development team said would sell like hotcakes and well, it isn’t even selling like cold cereal, you’d probably think about restructuring that department.
Well, just over a year ago, the president’s economic team promised us that if we adopted their “stimulus,” we wouldn’t see unemployment climb above 8%–and it would have reached that peak oh, about nine months ago. And now it’s stall at 9.7%, with jobs still being lost even though that economic team promised us new jobs would be created.
And now we’ve got the president following in Harry Reid’s footsteps and saying that his economic plan is working!?!?! Doesn’t he realize that by saying it’s working, he’s admitting that, well, just over a year ago, his economic team got it wrong? They predicted an unemployment rate for February two full points below where it is right now.
(H/t for chart: Gateway Pundit.) And heck, the unemployment rate is even higher than they predicted it would be without their “recovery plan.”
Methinks it’s time for a new economic team. Don’t you?