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Friday, September 3, 2010

Media bias? this says it all

In a piece under the headline: "No Second Stimulus Being Considered", Reuters presents all the proof one would ever need to show media bias. Here is the key sentence:

"Obama is under strong election-year pressure to increase U.S. job growth after an $814 billion stimulus plan he and his Democrats pushed through Congress in February 2009 saved or created millions of jobs but has not reduced the U.S. jobless rate of 9.5 percent"

As they would say on Saturday Night Live, "Really?"
The stimulus created millions of jobs, but there are fewer now than before it was passed. Really?
The stimulus saved millions of jobs, but the number of those employed just keeps going down. Really?

The truth is that the stimulus has failed and done so in a big way. Obama promised the with the stimulus the US could cap unemployment at 8% but without the bill unemployment would rise to 9.5%. In fact, Obama was wrong. We had the bill and unemployment got over 10%. Obama said that the stimulus would jump start the economy so that it could have robust growth as it moved forward. We got the bill, but the anemic level of growth in the last six months has been so weak that fear of a double dip recession is now the accepted wisdom. The stimulus was a gigantic failue. The truth is that Obama passed the bill, but the American people will be paying that bill for decades to come.

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