Friday, September 11, 2009

"Stimulus" Not So Stimulating

Remember when the Obama administration was sounding alarms that we have to pass a stimulus package now or unemployment would soar? Check out the following chart that shows actual data plotted next to the unemployment forecasts with and without the stimulus package via Obama's economic team:

Post hoc ergo propter hoc informs us that the chart doesn't prove that the stimulus package caused the rise in unemployment, however, it doesn't bode well for the Keynesians.