Evidently, the actual numbers for unemployment are far worse than the Obama administration had predicted; more or less, far worse then "scary" prediction for "what happens if we don't stimulate the economy." In similar news, it's found that all the attempts to "stimulate" borrowing (by borrowing trillions out of private hands) are actually making the problem worse by pushing interest rates up.
Since apparently economics isn't taught at the schools Obama attended (that's why Galbraith taught at one of them, of course), I'll be glad to help people understand what's going on. When you increase the demand for money by running a $1,800,000,000,000 deficit (zeroes included for the benefit of those who skipped math class as well as econ during college), the market clearing price (interest rate) for borrowing goes up.
In the same way, when you take money from people who know how to make jobs for $100, 000 a position and give it to those (government types) who require $1,000,000 per position to create a job, the end result is that you will eliminate about 9 jobs for every million dollars spent.
Not coincidentally, about half a million people are losing their jobs every month. It's not rocket science, though it apparently is beyond the abilities of Mssrs. Obama (Blagojevich/Capone) and Geithner.
Turning Of The Tide - 41 Uboats sunk in 3 weeks. Roots of Cold War NATO naval policy.
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