It's interesting to note that the wingnuts make no mention of the text that accompanies the Obama team's chart:
"...there is considerable uncertainty in our estimates: both the impact of the package on GDP and the relationship between higher GDP and job creation are hard to estimate precisely."Why tell the whole story when you can just take something out of context?
In any event, it might be instructive to take a look at some Bush team forecasts (PDF, dated Feb. 11, 2008, see Page 14):
The Administration projects that employment will increase at an average pace of 109,000 jobs per month during the four quarters of 2008, before picking up to 129,000 jobs per month in 2009. [Ed. note: 2008 averaged -256,000, and so far in 2009 we're running -584,000 on average. Neither of their forecasts, by the way, provides enough jobs to keep pace with population growth. Nice call.] In the longer run, the pace of employment growth will slow, reflecting diminishing rates of labor force growth due to the retirement of the baby-boom generation. The Administration also projects that the unemployment rate will edge up from 2007 to 2008 as a whole, before returning to 4.8 percent in 2010, the middle of the range consistent with stable inflation in the long run. [Ed. note: 4.8 percent unemployment in 2010 is exponentially more of a fantasy than Obama's January forecasts.]So, they only missed on 2008 jobs by 365,000/month, and on 2009 jobs (thus far) by 713,000/month.
The report concludes:
The economy is projected to settle into a steady state in which real GDP grows at about 2.9 percent per year, the unemployment rate stays around the level consistent with stable inflation (about 4.8 percent) and inflation remains moderate and stable (about 2.3 on the CPI). Consumer spending is projected to grow in line with disposable income, and business investment and exports are projected to grow a bit faster than GDP as a whole.Of course, the forecasts were pure garbage and not remotely reality-based.
The next sentence is:
Economic forecasts are subject to error, and unforeseen positive and negative developments will affect the course of the economy over the next several years.But in the interest of intellectual dishonesty I probably shouldn't include that here.
ADDING: And this is the type of idiocy that shows up in such posts' comments:
One must wonder what koolaid the Whitehouse people drank in forecasting such a rosy scenario. Orszag, director of OMB must really be stoned by now after that Whitehouse budget he gave using such assumptions. How long before the MSM notices the difference between reality and the utopic visions of Obamamania?Right. Because clearly the Bush folks did a way better job.
ADDING AGAIN, LASTLY: It should go without saying -- but I'll say it anyway -- that the Bush team's forecasts were published when the economy was already in its third month of recession, making their absurdity all the worse (i.e. many metrics had already rolled over).
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The Privatization of "Obama's War": http://www.commondreams.org/view/2009/06/06-4
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Here in America, we have members of our so-called media promoting the bogus claim that President Obama is a secret Muslim.
They are being ignored and marginalized because they are blithering damned idiots. Witness Todd Akin discussing climate change on the House floor last week:
Now, someone, please...make me understand why, in the name of all that is holy, I supposedly owe it to a jackass like that to give any gravity at all to a single word he utters, including 'and,' 'the' and 'of.'
If the republicans want to be taken seriously they have to stop taking pride in being ignorant. It isn't rude to refuse to engage with willfully ignorant and pathologically dishonest jackasses who not only intentionally conflate the definitions of climate and weather, but who intentionally mischaracterize the change of seasons as 'climate change' and pretend that weather phenomena can be legislated. If that were the case, I'm pretty sure that Kansas would have outlawed tornadoes after Udall and just skipped Andover all together.
You can not seriously expect me to engage with untreated mental illness as if it were a credible position. It is not. And anyone who insults the intelligence of their constituents with such blithe, glib, voluntary, dishonesty either deserves an ass kicking at the polls in the midterms, cuz there is no way in hell the people I know from St. Louis deserve to be represented by this goon.
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Obama considers change to military commissions law that would allow some detainees who are charged with complicity in the 9/11 attacks to plead guilty even though they face the death penalty. It's got something for everyone...the government gets to avoid revealing the details of the tortures that were employed and the terrorists get to achieve martyrdom. The proposal, in a draft of legislation that would be submitted to Congress, has not been publicly disclosed. It was circulated to officials under restrictions requiring secrecy. People who have read or been briefed on it said it had been presented to Defense Secretary Bob Gates by an administration task force on detention.
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Tennessee lawmakers approve handguns in bars, override veto: http://rawstory.com/08/news/2009/06/06/tennessee-lawmakers/
I can't imagine there will be any problems with this.
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Obama planning even more speeches and town-hall-style meetings about health care: http://www.nytimes.com/2009/06/07/us/politics/07policy.html?_r=1&hp
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4,311 soldiers killed in Iraq; 700 in Afghanistan.
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Bay Buchanan: My staffer who karate-chopped a black woman and called her the "n" word was the victim of a "modern day lynching."
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