{"id":7636,"date":"2010-11-05T09:30:21","date_gmt":"2010-11-05T13:30:21","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=7636"},"modified":"2010-11-05T09:30:21","modified_gmt":"2010-11-05T13:30:21","slug":"latest-stimulus-report-card-unemployment-remains-9-6","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/7636\/latest-stimulus-report-card-unemployment-remains-9-6\/","title":{"rendered":"Latest &#8220;Stimulus&#8221; Report Card: Unemployment Remains 9.6%"},"content":{"rendered":"<p>Today, the Labor Department <a href=\"http:\/\/data.bls.gov\/PDQ\/servlet\/SurveyOutputServlet?data_tool=latest_numbers&amp;series_id=LNS14000000\" target=\"_blank\">announced<\/a> that the unemployment rate remained at 9.6% for the third consecutive month.\u00a0 When President Obama signed his nearly $1 trillion &#8220;stimulus&#8221; in February 2009, the unemployment rate stood at 8.2%.\u00a0 In the 20 months since that date, the rate has increased to 9.6% despite <a href=\"http:\/\/otrans.3cdn.net\/45593e8ecbd339d074_l3m6bt1te.pdf\" target=\"_blank\">White House projections<\/a> that it would top out at 8% fully one year ago.<\/p>\n<p>Once again, a comparison to the Reagan recovery is profoundly instructive.\u00a0 In the same 20 month span following the effective date of the Reagan tax cuts in January 1983, <a href=\"http:\/\/data.bls.gov\/PDQ\/servlet\/SurveyOutputServlet\" target=\"_blank\">unemployment plummeted<\/a> from 10.4% to 7.3%.\u00a0 Also instructive is the following headline from today&#8217;s <em>Wall Street Journal<\/em>:\u00a0 <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748703805704575594083219715888.html?mod=ITP_pageone_3\" target=\"_blank\">&#8220;European Central Bank Parts Ways With U.S. on More Stimulus.&#8221;<\/a> It is a sad state of affairs when even the spendthrift Europeans are providing economic guidance to Obama.<\/p>\n<p>Liberal Keynesians have had almost two years to prove the validity of their economic agenda.\u00a0 It has failed, their rationalizations have grown stale, and their <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748703506904575592591109709212.html#mod=todays_us_opinion\" target=\"_blank\">desperate efforts<\/a> to resist corrective action will only prolong the nation&#8217;s misery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, the Labor Department announced that the unemployment rate remained at 9.6% for the third consecutive month.\u00a0 When President Obama signed his nearly $1 trillion &#8220;stimulus&#8221; in February 2009, the unemployment rate stood at 8.2%.\u00a0 In the 20 months since that date, the rate has increased to 9.6% despite White House projections that it would [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[40,59,19,102,27,24,1614,61,179,71,28,18],"class_list":["post-7636","post","type-post","status-publish","format-standard","hentry","category-posts","tag-congressional-budget-office","tag-deficit","tag-economy","tag-free-market","tag-jobs","tag-obama","tag-obamanomics","tag-spending","tag-stimulus","tag-taxes","tag-tea-party","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/7636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=7636"}],"version-history":[{"count":1,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/7636\/revisions"}],"predecessor-version":[{"id":7637,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/7636\/revisions\/7637"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=7636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=7636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=7636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}