3 years after Obama's "stimulus," one million jobs less
Obama, who never had a private sector job in his life, claims to know how to create jobs. He insisted Congress pass his $787 billion “stimulus” that would save or create 3.5 million jobs in Feb 2009 - only one moth after taking office. Because all of this money had to be borrowed, the total cost of this bill, with interest, was over $1 trillion.
When Obama became president in Jan 2009, there were 110,981,000 jobs in the private sector. As of December, 2011, there are 109,928,000 jobs in the private sector - a loss of 1 million jobs.(1)
Knowledgeable people predicted this plan would be a catastrophic failure - and it has. Obama is clueless about creating private-sector jobs. Many of the private sector jobs “saved” is only because Obama is keeping them afloat with taxpayer money. Obama’s massive spending and tax hikes has kept the union workers of GM and Chrysler employed (with taxpayer money). And he made sure that major campaign contributors collected billions of government stimulus money (all taxpayer money). He has made sure that most government employee union members got their annual raises (with taxpayer money).