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White House: 9% unemployment until 2012, Stimulus Failed

July 24, 2010 Politisite 0

How many remember the President saying that the Stimulus will bring down unemployment to 8%? He also touted that if the Stimulus was not enacted it would take our economic crisis to catastrophe. From where Americans are sitting, it appears the the Stimulus has done very little to change our economic forecast. In fact, the status has been revised down several times already this year.
Minorities have taken the biggest hit, even though our President insisted that the Stimulus would be far reaching down to the average worker. It appears that the Presidents statements have been nothing more then political Rhetoric as the poorest among us continue to be hit the hardest. The White House now says Unemployment will stay at or above 9% until the election in 2012. Interesting enough, The President said that the stimulus was “front loaded”meaning that the majority of the economic change would come in it’s first 2 years. It doesn’t take an economic degree to see that has not come to fruition.