In theory, theory is the same as practice

[unixronin]

In practice, it isn’t.

This chart (from the linked article) compares the Obama administration's projections for unemployment to actual observed data.

The projections:

• Without the stimulus plan (light blue line), unemployment starts to level out sometime between Q3-2009 and Q1-2010, peaks at a hair over 9% during Q1-2010 and Q2-2010, then begins to decline.

• With the stimulus plan (dark blue line), unemployment unemployment starts to level out in Q1-2009, peaks just below 8% in June 2009, and is declining by Q3-2009.

The reality:

May 2009 ended with unemployment just shy of 9.5%, with the curve still steepening.

“Oops.”

See also this article, which also notes that the unemployment rate has risen almost two points in four months, the highest job loss rate recorded since the beginning of US unemployment statistics in 1948.

Comments

[fruitylips.livejournal.com]

"And very little of the money has actually been distributed. (It only passed Congress 4.5 months ago; end of January.)"

This was always one of the biggest criticisms of the 'stimulus' package, since the entire point of a stimulus package is that the money needs to be spent *now* if it is going to be effective. Heck it was sold as critical to pass RIGHT FUCKING NOW without any real examination of the contents based on the idea that to be effective it had to be put into effect NOWNOWNOW!

Remember how we didn't have time for it to sit up on the web for examination for 5 days before the vote so people could check it out, like someone promised we'd do from now on?

What we got was nothing more than a slew of random Democrat wet dreams that largely gets spent in 12-24 months and on out into the future.