As most people know, the unemployment rate only proceeded to go higher following the passage and roll out of Obama's Stimulus Package. Now, comes some more proof that the "stimulus" was a failure.
A recently released report, Household Income Trends During the Recession and Economic Recovery, has determined that the average household income fell nearly 10% since the beginning of the recession in 2007; from $55,309 to today's $49,909. But, what's more disturbing is the fact that, during the years that the stimulus was being applied, household incomes fell at a rate that was double that of the actual recession years. In fact, during the recession (2007 to mid-2009), incomes lost 3.2 percent. But during the years forward of that period, at the height of stimulus spending, the average household income lost a whopping 6.7 percent.
It's facts like these that should make anyone uncomfortable about Congress' passage of another one of Obama's recovery plans; especially his current jobs bill which is just a repackaging of his original stimulus package with a new name and half the amount of money.