Dave Camp, the GOP Ranking Member on the House Ways and Means Committee, issued this devastating report on job creation attributable to the ARRA legislation. In state after state, the Obama administrations projections werent just off but off by orders of magnitude.
Heres a partial list of the worst projections:
California projected gain: 396,000, California Actual: LOST 336,400
Arizona projected gain: 70,000, Arizona Actual: LOST 77,300
Colorado projected gain: 59,000, Colorado Actual: LOST 58,900
Georgia projected gain: 106,000, Georgia Actual: LOST 131,000
Illinois projected gain: 148,000, Illinois Actual: LOST 148,000
Florida projected gain: 206,000, Florida Actual: LOST 165,100
Michigan projected gain: 109,000, Michigan Actual: LOST 137,300
Nevada projected gain: 34,000, Nevada Actual: LOST 33,800
Ohio projected gain: 133,000, Ohio Actual: LOST 97,500
Pennsylvania projected gain: 143,000, Pennsylvania Actual: LOST 103,200
These are just some of the worst miscalculations. Read the entire list but only if youve taken your blood pressure medication.
One oddity stands out in the report, namely North Dakota. They were predicted to gain 8,000 jobs. They didnt meet that mark but they gained 1,800 jobs. It couldnt have anything to do with their tax cuts, could it? Surely, thats coincidental, isnt it King?
At some point, thoughtful people will reject President Obamas wisecracks about not following the failed policies of the last eight years because theyll judge President Obama on his economic failures. Theyll notice that his economic accomplishments will consist of, in his eyes, the failed stimulus bill. Other than that, what can he point to as an accomplishment?
He certainly can’t point to his budget. Why would President Obama highlight a budget that includes trillion dollar deficits for as far as the eye can see? If President Obama were to highlight his budget, hed be handing GOP strategists a powerful campaign theme on a silver platter. (Just imagine the TV ads showing President Obama talking about the green shoots hes seeing in the economy, then showing the annual deficits in bold red letters, followed by VP Biden talking about how the stimulus is working better than he could’ve imagined with headlines of monthly unemployment figures scrolling across the screen.)