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You've Seen It Before, And Here It Is Again: "The Chart That Tears Apart The Stimulus Package"
Over a year ago we penned "QE 2 Was A Disaster: Here Is Why US Fiscal "Stimulus" Was A Complete Failure As Well", because, well, QE2 was a disaster, which is important to remember as we are about to set off on the NEW QE as per Hilsenrath, because apparently creating 80,000 jobs per month (with the S&P a whopping 5% off multi-year highs) "Leaves Door For Fed Wide Open" even though the Fed has shown beyond a shadow of a doubt it is incapable of creating jobs and at best can ramp the Russell 2000 for a few months. But more importantly, a year later it is obvious that the ARRA just kept on being wronger and wronger with each passing month, until we get to today. We will spare readers our conclusion about ARRA architect Christina Romer's (long gone from the administration for obvious reasons) predictive powers, suffice it to say they are on par with those of the Fed itself. Simon Black, using AEI data, reminds us how the ARRA chart looks, one year later.
The graph that tears appart the stimulus package
After Obama was elected, one of his first initiatives was to enact a massive stimulus package in order to reduce the rising unemployment after the housing collapse and bailout all the failing banks. When promoting his plan, the President offered many promises about the success of his idea but very few have so far come to fruition. Below is a graph that was supposed to estimate the effects of the stimulus, however as you can see, it far from achieved the President’s goals.
AEI reports on the ineffectiveness of the program:
This was not the employment report either the American worker or the Obama campaign wanted to see right now. The Labor Department said the U.S. economy created just 80,000 jobs in June, less than the 90,000 economists had been forecasting. And private-sector job growth was just 84,000, down sharply from 105,000 in May. Not doing fine.
The unemployment rate stayed at a lofty 8.2%.
This continues to be the longest streak — 41 months — of unemployment of 8% or higher since the Great Depression. And recall that back in 2009, Team Obama predicted that if Congress passed its $800 billion stimulus plan, the unemployment rate would be around 5.6% today.
– If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office—65.7% then vs. 63.8% today—the U-3 unemployment rate would be 10.9%. Even if you take into account that the LFP should be declining as America ages,theunemployment rate would be 10.5%.
– The broader U-6 unemployment rate, which includes “all persons marginally attached to the labor force, plus total employed part time for economic reasons,” is 14.9%, up a bit from May.
– The average duration of unemployment ticked up to 39.9 weeks.
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Those things only matter if everyone else is doing them. Otherwise it's pointless as your hard work is stolen by parasites via the government. We are well beyond the point of no return.
It's time for people to grow up and realize how fucked we all are. Nothing is changing without a major reset or a major awakening which I'm sorry to say ain't happening.
FleaMarketPete
A slave with benefits.
" Start your own business, go back to school, change professions, improve yourself, work for it!"
As long as the owners approve but u will never be one of the 400 .
It's funny to see this repeated so often, because you'd think that even the dimmest bulbs would understand that if the government were REALLY taking so much money from "the rich," they would not have gotten so much *richer* over the past 20 years. What's actually happened is that as taxes have been cut on the rich, the tax-burden has shifted downward onto the working classes.
Would it be an improvement if 400 people had more money than 200 million others? 300 million?
It sounds like the ideal economy is the one where one guy owns everything and we all work for him. That was certainly Hobbes' preference. It doesn't sound appealing to me, but the great thing about being a USian is we're free to disagree on this sort of thing.
The private sector is doing fine.
May we quote you on that?
All the world's banks need to be shut down and the bankers should be stripped of their wealth. Start a new system. I kind of like Karl Marx. At least he didn't advocate taxing labour.
I hope you're writing from one of those Marxist paradises, Cuba or Venezuela. If not, go there. You'll love it.
Government lies or have you forgotten. Their seems to be a lot of Cubans and Venezuelans who like their country. The great USA is about as free as the Bankers will let us be. We are a colony of a private racketeering Organization.
If you believe anything else then you are either a slave with benefits like our elected government employees or just ignorant.
Why do formerly American companies and the globalists like China so much? They can enrich themselves while America dies on the vine, the money power doesn't care about the laws of any country.
All the world's banks need to be shut down and the bankers should be stripped of their wealth. All of the worlds BANKS are owned by a select few. They stole whatever they aqquried the confiscated goods should be returened to the planet. All countries get to decide the government they want to live under. If you start dictating how they should live you are no better than the BANKs owners.
Nuke the BIS wake up the world?
It’s time to admit finally that the economic problems in this country are political problems; the difficulties are not within the purview of economists, they are in an area of political leadership that does not exist except for Ron Paul.
In this election year, we are reminded of the parade every four years leading to the forced choice of administrations, neither of which have any economic solutions. And that’s because a banking cartel blocks any real leader from endangering their hold on the currency and the political establishment.
No competent leader has come as close to the presidency in recent times as has Ron Paul; and major road blocks have been pushed at him every step of the way and they continue now in state conventions selecting delegates for the GOP convention in Tampa. Still, the bankers worry that the legions of Ron Paul supporters will spirit the purchased election away from them at the last minute.
Many of the delegates pledged to Romney on the first ballot, for example, are in fact Ron Paul potential votes.
Here are the latest examples of road blocks still frenetically being erected by the corrupt two-party system posted on Daily Paul today:
Oregon Republican Party Appoints Friends in Secret Meeting to Replace Duly Elected Delegation
The Nebraska Establishment Is Trying to Steal the Election from Ron Paul Delegates
The national party leadership could solve this but they don’t. They allow state chairmen to over ride rules and push duly elected delegates out of the way for their own candidate choices. Big money, blackmail and many seedy methods are used to deny the people access to the system.The Ron Paul people are fighting with many of these party bosses on a local level who are corrupting the system. What’s needed is at least some discipline at the national party level that allows fair elections and grassroots choices. These corrupt state developments are only going to make Tampa an incredible travesty between delegates committed to Romney, Santorum and Gingrich – many of whom have been handpicked illegitimately by party bosses - and the dismissed duly elected delegates who are supporters of Ron Paul.
This hand selection of corrupt party choices is why Americans have corrupt political parties. The Democrats are same way. The result of this cheating and fighting is the dearth of choice, why the people end up with the Bushes and Romneys. The media also is a huge problem. The media gets Romney nominated before the state conventions are even held because it does not understand the system…or, on second thought, maybe it does.
http://www.dailypaul.com/
excuse me --not "political problems"--political corruption
and it willl continue till you meet the local party boss in the parking lot and bust his kneecap with a baseball bat-- If you can't handle that, live with the corruption.
Meaningful change won't occur until blood has been shed. Think about what is coming as another Civil War. It's inevitable.
Ron Paul's position on 911 is disturbing to say the least. I'm not sure how or why any of you would consider voting at all, much less voting for someone who cannot or will not tell the truth about 911. If Ron Paul can't be trusted on that issue, how can he be trusted on any other issue? What could be more important, especially now, than 911 truth?
Do you know anyone who cares about 911 truth that is freely given a microphone and a camera pointed in their direction in the media?
The point of measuring employment gains starting in June 2010 was to give Dems/Obama the benefit of some time for the stimulus to kick in.
But since June 2010, more people have gone on disabilitiy than have gone off unemployment ... by 267,000. And more people have gone on temporary employment by 270,000.
http://confoundedinterest.wordpress.com/2012/07/06/summertime-blues-u6-unemployment-rises-to-14-9-nonfarm-payrolls-grow-only-80k/
LMAO at 8.2% unemployment. It's more like 20-25%.
http://www.shadowstats.com/alternate_data/unemployment-charts
also does not take into consideration underemployment, part time etc
Bailed-out AIG wants $30.2 million in tax interest
http://bottomline.msnbc.msn.com/_news/2012/07/06/12602774-bailed-out-aig...
funny thing is that the Congressional Budget Office already produced the chart seen here, in 2009. Yet, Bernanke in his infinite wisdom, decided to execute the stimulus anyways.
[url]http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/99xx/doc9957/01-07-outlook.pdf[/url]
I can't believe these CNBC Idiots! Even if the usd held arround the 83 DXY level the commodity currencies are going to get hit hard!
If you look @ correlations in "DXY" with the "aud" from last summer, The Australian dollar should be much lower relative to usd strength! I think the dollar is going higher. That is a good thing! What has 3 years of weak dollar export policy ( us multinationals derive 35-50% of their profits overseas), not exported from the United States, done for deficit reduction or jobs growth? ( OR INFLATION? ) Sure U.S. multinationals love soft dollars. They repatriate their earnings for more weak greenbacks!
Do people really think gas is getting cheaper off a 2 week oil sell off? The only thing helicoptor Ben has going is a strong dollar, and He'll Fuck that up! I hope you guys got short the euro , because it's going a lot lower!
"Do people really think gas is getting cheaper off a 2 week oil sell off?"
Yen Cross.
It looks an easy conclusion, but easy conclusions are so un-common sense nowadays. It takes a lot of mental clarity to draw easy conclusions.
Thx a lot.
I read this 5 times. This is a dynamite description of reality.
+100
thanks for the " inconclusive" answer ekm? I'm perplexed.
Being the fantastic " Solar Panel" Install technician, you are.
We can always go cny/cad " EKM"? Giant Happy Face?
A great investor/speculator is NOT one who can predict the future, since future is impossible to predict. A good investor/speculator is one who chooses to RECOGNIZE THE REALITY and speculates accordingly. Think Seth Klarman.
Everybody is saying, crude oil prices are lower, gas prices are lower, what are people going to do with the "extra money"? This is idiotic.
The real analysis should be:
Oil prices have changed from Super High down to Very High. How do we make it eaier for the people? Answer: Stronger dollar in order to have higher purchasing power. Hence your conclusion:
"The only thing helicoptor Ben has going is a strong dollar"
http://www.alsosprachanalyst.com/economy/chinese-companies-are-now-accumulating-as-much-us-dollar-as-possible.html
Much as I agree with the material being presented, I find myself torn in accepting any findings from the American Enterprise Institute, which is just a fancy name for "Neocon Central."
I wish AEI would go the way of Project For A New American Century and just become extinct already.
Note that according to the chart , if nothing had been done, the unemployment rate would be 6% not 8.2 or 10.9.
You're being "Facetious" right?
The last damn thing we need is another QE. The money just goes into China's pockets. Screw that. How does a QE create a job besides some shit paying retail or fast food job selling Chinese made shit. I am convinced QE / stimulus / taxes is the dumbest thing ever for this country, it doesn't even benefit us. The USA really doesn't need to play along with the rest of the world. If we dump they dump. We don't need to prop them up for any reason. The government needs to get their heads out of their military obsessed ass, and into the real world.
"The last damn thing we need is another QE. The money just goes into China's pockets.". I agree. None of the 'stimulous' programs have a chance of enabling the economy to gain traction, trade policy destroys it all in short order
Exactly. Thats why all the markets rally bigtime when the USA announces QE. Because they know it will benefit them and weaken the USA. The government has already sold us out twice to the bankers. NO MORE. Let them suffer.
I read the arguments pro and con.
Does it matter anymore?
To some life is cheap to others precious.
Problem is that they took away the opportunity to survive without coin, like in the old days when a person could live from the land and hunt and fish. Now you need licenses to hunt or fish and if they catch you parking your ass on land you get thrown in jail.
This world is fucked. Have fun supporting your McMansions and Beemers.....
Exactly.
Pretty graph is missing the obvious -- actual U-3 unemployment rate, with flaming, blinking shaded area between actual and 0bama propaganda (0bamaganda? maybe not. sounds a little racist. or maybe just anti-African. I thought the mighty 0 was 1/2 white, 3/8 Arab and only 1/8 black, but who's counting?) -- the 0bama job destruction gap. Or is it still the other guy's fault. I can't keep track.
Extra credit for adding U-6 actual rates to the chart.
Extra extra credit for adding shadowstats real unemployment rate.
Shadowstats.com. Now that is some scary information, unfortunately the statistics presented reflect reality much more accurately than gubmint manipulated numbers. We are in much worse shape than the majority care to realize....check the website out.
yep. Also check out the baltic dry index, the 2nd chart shows how similar the situation is to 2008.
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
Watch my pet goat 2
Another false flag coming count the symbols in this video
http://www.youtube.com/watch?v=f_OawJA68jI
Since March 2009, the weekly Dow shows little more than a choppy correction - which should end in a major move to the downside similar to the one in 2007/2008.
http://bullandbearmash.com/index/sp-500/weekly/
Libor: The Crime of the Centuryhttp://www.thenation.com/article/168751/libor-crime-century#
Forget Bernie Madoff and Enron’s Ken Lay—they were mere amateurs in financial crime. The current Libor interest rate scandal, involving hundreds of trillions in international derivatives trade, shows how the really big boys play. And these guys will most likely not do the time because their kind rewrites the law before committing the crime.
Modern international bankers form a class of thieves the likes of which the world has never before seen. Or, indeed, imagined. The scandal over Libor—short for London interbank offered rate—has resulted in a huge fine for Barclays Bank and threatens to ensnare some of the world’s top financers. It reveals that behind the world’s financial edifice lies a reeking cesspool of unprecedented corruption. The modern-day robber barons pillage with a destructive abandon totally unfettered by law or conscience and on a scale that is almost impossible to comprehend.
KISS method:
the reason the trillions spent have not worked is becasue most of the money was spent on banks balance sheet repair and bonuses--with only chump change going to the consumer.
whether or not the concept of any stimulation is the proper thing to do is another discussion. Just saying why stimulation has been ineffective.
I love that chart, an instant classic. By their very own numbers the central planning is an epic failure. We'd have been way better off if we had done nothing. The Keynesian Unicorn is still dead. I now think of Robert Wenzel when I see that chart.
paragraph please
Where's the beef?
What's with the pathetic trolls that have overtaken this blog? GM's and UAW's fraud is not a conspiracy theory. All of Obama's promises were lies. You will not become rich by stealing from the 1% and giving it to the lazy. Your enemy is the status quo and not the self-determined. It's sickening that so many ne'er dowells come here now to find excuses for their failures. "Kill the bankers" does not translate into ignorant and slothful "millionaires and billionaires".
Tyler,
How do you differentiate between whether they are lousy forecasters or the stimulus didn't work?
Oh, you don't...nothing here but hand waving.
I'm not Tyler, but you're asking whether Obama's stimulus was a failure of policy or a failure of policy makers? Wait what?
You / You meniacle Brilliance, Left me in "ROBO LAND" , whilst I was cooking some boneless " Chicken Breasts"!
Look at the Rainbow!
http://obamaisntworking.com/press/broken-record-broken-promises/
This is freaking hilarious.
I got tired of moronic 3 year olds. Thanks EKM, it was just a pattern disruptor.
WTF? Who or what is interjecting posts for me?
Sunday open, China is good news. The market gaps closed! China bad news the market gaps closed then open.
China "really bad news" Gaps really bad down, then buy signal.
Finally the Italian bonds correct under 100 which is what Capital3x was guiding its subscribers to take note.
http://capital3x.com/think-tank/performance-7-july-2012-getting-started/
quantity / quality .
who cares or would know the difference.
translation: why we are doomed.
Why is Tyler still promoting Simon Black, the "Soverign" man, who was exposed as an Indian woman living in Singapore. Simon Black is BS artist.
Yes he is a BS artist. Read some atrocious writings from the fool, just another globalist shill
Hello Muppets, this is Atomizer chiming in from the lovely Island of Marco. Look at the big picture. All the latest Banking crisis is formulated on Basel III aka Dodd Frank and beans bill. Once you're convinced in accepting their respective fear story, Grand Theft Banking goes international. The can be kicked until 2016. If the fear story doesn't resonant to the masses, your looking at 2013. Your beloved Central Planners are in a fight or flight mode.
Twirling my toes in the sand and watching planners engage in suicide watch has a tranquil moment of peace and a dark comedy twist.
http://www.myfxbook.com/members/zuut/capital3x-fx-partners/336295 Captial3x real trade history since June.
The chart doesn't tear anything apart. The light blue line is a forecast or what would happen without policy changes. That forecast looks like it was based on typical 'business cycles', starting with much lower levels of debt etc.
It was wildly optimistic, and the 'misses' reflect that, and probably would be somewhat worse than they would have been without the stimulus. (Which isn't to say the unintended consequences of the stimulus have been worth it. 'Arab Spring', anyone...)
Tyler, Tyler, pay attention. That 14.9% U6 rate you quoted is seasonally adjusted. The non-seasonally adjusted U6 rate is 15.1%.
http://research.stlouisfed.org/fred2/series/U6RATENSA?cid=12
Ohhh yeah...That "Official" 8.2% U3 unemployment rate? That's seasonally adjusted as well. The non-seasonally adjusted U3 rate is 8.4%
http://research.stlouisfed.org/fred2/series/UNRATENSA?cid=12
Look at the last five observations for that NSA U3 rate and you'll see that the NSA rate for May was 7.9%, actually lower than the reported seasonally adjusted rate of 8.2%. The talking heads have to stick to one story even when there's another that makes things look better than they are. It's probably for the better, since they would have to be explaining how the UE rate jumped from 7.9 to 8.4% in one month.
All this employment/unemployment data is so freaking convoluted. ADP, establishment survey, household survey, blah, blah, blah. The only way anyone can really make any sense out of it is to take your eyes off the TV or computer, go outside, take a one hour drive around your area and realize "Damn, things aren't what they used to be".
This country is going down the freaking tubes whether anyone believes it or not. When only one out of every five jobs in this country actually produces something tangible and the rest are basically chiropractic adjustments, someone to clean out your drains or tend your lawns(If you "own" them), someone writing you a prescription for a drug you can probably live without, legal consultations, car washes, someone telling you "Welcome to WalMart", "That's in aisle five" or "You want fries with that?", you know you're screwed. American companies make their shit overseas. Foreign companies make their shit here. We're one of the greatest agricultural countries in the world but we export some of our own production and import some from other countries. The whole thing is ass-backwards, FUBAR and needs to be blown up and reset.
It's very late, I'm tired. Thanks to ZH for letting me rant.
More denial but let print anyway.
Speaking of denail there is a great interview with Nial Ferguson on BBC hard talk.
http://youtu.be/b_Ipqenbu04
What is breath taking in this interview though is the sheer denial by the BBC interviewer over the debt issue.
Her stubborn refusal the even acknowldge the debt problem in Greece or France even leaves Ferguson wondering if he's talking to a moron....of course he finally realises he actualy is.
That chart ... looks like a no-bell curve ... that got dropped on its head.
all this is because of white males not doing what obama wants. if these slackers would just qit and get on the plantation all would be right in america. but no, they are so racist. now slaves be uppity we know but these white people got to do what obama b awantin. he was elected to reverse america to slvery and dammit it gonna happen
Anyone notice how expensive medical supplies are getting? I mean basic bandages, disinfectants, etc. I think there is a plan to get such neccessities so expensive that Joe sixpack, unable to afford basic home first aid will be forced to seek professional medical attention for the most common of conditions. I accidentally stabbed myself in the knee needing four stitches, and the pleasant young MD and assistant snuck in a pertussis vaccine piggy backed on my tetnus shot. It's a set up people!
What would the numbers be if they told the truth?
Anagrams for 'cartelbanks':
TRACKABLE
STACKABLE
BLACKENS
BACKSEAT
BLACKEST
"I'm editing the final draft of my personal debt repudiation statement !" Vintage Monedas 2006 I do open collection letters .... and keep the return envelopes if they don't have printing and do have plastic windows ! They're great for storing cash ! I'm more into cash, these days !
Ron Paul Proposes Elimination Of Education, Energy Departments, Lowering Presidential Salary To $39,336
Voting for Ron.
They will keep on doing this, becouse it's their "culture" to do so.
Like normal people go to work, get their food from the stores and live their lives like "normal people", these financial terrorists live in their world.
This needs to stop. Diamond got a bonus of 34-36 million euros for fucking other peoples lives up.
I find that amazing that high criminal activity get's payed like this way.
Can this go on forever? I don't think so.
I will put it like this...
The ordenary people are the new "black slaves" worldwide, cleaning the houses of the slave masters.
Eat your meat!
http://shutupnsing.wordpress.com/2012/07/07/scaling-the-wall-with-tyler-roger/
Soon, the best string pullers and monetary illusionist will have no clue where to get out of town.
http://www.youtube.com/watch?v=UFwf7gRiLYM&feature=related
The problems we are seeing and the devised solution (we are observing), are consequence of 50 years INTENTIONAL degrading policies pushing us to consumerism/enslaved and away from engineering/producing/free society.
Anyone, who thinks that, all what we are seeing for the last 4 years, is consequence to the system hiccup we have seen in 2007-2008 should rethink his/her view again by reading ALL of the reports on this site: http://grandfather-economic-report.com/ ( an amazing one place stop, with many reports, on what is wrong with the US system )
The last 4 years, we are seeing attempts to prop up a system that is making a wrong turn for about 50 years with increasingly high speed. Currently we are seeing the slow-motion-crash of this system, and although, it will not be a crash in the fast change as some would like it to be, nonetheless it is a crash. Because, without the huge supports being engineered every day the system will fold like a thin can.
We will see more of this, till, there is new system balance ( or war, which by itself is a drastic balancing act ).
A new system balance will entail, most of the people on the West (mostly US) "giving up" big % of their perceived wealth to the East, and recognizing that they will have ot live with less, than what they have used to. So, "At the End we shell have Peace" (from the silent War for unfair wealth redistribution), and we can continue on somehow sustainable path, again for some period of time, at least, till, another tension grows and a new reset comes around.
Signs We Are Approaching a Zombie Economy - CNBC
http://truth11.com/2012/06/29/massive-global-banker-scandal-revealed-breaking-news-in-the-mainstream-media/
American Enterprise Institute? That's like quoting PRAVDA in 1965. These parasitic propaganda agents hide behind mere words like LIBERTY and FREEDOM, the very words that they themselves don't believe in and would stifle at every opportunity. Where was AEI when Congress passed NDAA?
What was the unemployment rate in 1963 with top tax bracket at 90%? What was the unemployment rate in 2010 with top tax bracket at 35%? Do you want to show a graph that shows inverse correlation between taxes and employment rate? Of course not!
The only thing that AEI understands is trickle up---that's the top sucking the bottom dry.
That's the type of discourse that ZH advocates. Now think, where was the last that ZH pushed for a policy or an initiative that would benefit ALL the Americans? It always advocates policies that redistribute away from the populace.
North Korea, Russia and China .... in their halcyon commie days .... always hid behind words like Liberty and Freedom ! So, if the federal income tax rate was 99% .... we'd have full employment ? I don't know what communal hole you crawled out of .... but you sure drank the Kool-Aid (a Capitalist blessing, refreshing economical drink that trickled down the Proletarian worker's parched throats ! Stalin had his best chemists trying to crack the Kool-Aid and Coke syrup recipes .... no luck ! They did get our nuclear secrets from leftist spies !) ! I'm the jokester around here .... but you sincerely need professional intervention .... like the Heritage Foundation and some basic economy classes ! Good luck in your pilgrimage back to reality ! Monedas 1929 Comedy Jihad Mental Health Safety Net
Out of Africa
Now just to show how little you know about real economics, I am going to tell you a secret that you would never figure out by studying AUSTRIAN economics. The lowering of taxation in US from 1963 until Bush (2001-2005) was offset by ratcheting up of debt and deficit spending.
Right wing economics is BS economics.
I doubt you can argue a six year-old into an understanding of economics. Have you ever seen anything from that guy that wasn't an infantile joke?
BTW: I've been wondering about the name--is that a reference to a card-game, or something more like work as a blacksmith?
Here's what you need to realize. The original chart above comes from a document (.pdf) that was put out by White House economic advisors Christina Romer and Jared Bernstein on January 10, 2009.
It's important to recall that his was right in the throes of the recession. At the time, things were weakening much faster than anyone could possibly realize in real time.
And this is crucial.
Read this from the BEA:
In the fourth quarter of 2008, which immediately followed the 2008 financial crisis, economic activity fell sharply. BEA’s initial, or “advance” estimate of GDP for the quarter, which was released on January 30, 2009, showed a decrease of 3.8 percent at an annual rate. In the second estimate, which was released on February 27, 2009, the revised estimate showed a decrease of 6.2 percent. Since then, the estimate has been revised several more times (in March 2009, July 2009, July 2010, and July 2011), and the latest estimate shows a decrease of 8.9 percent.
Get that? Even after Romer's chart, it only looked like GDP had contracted by 3.8 percent in the previous quarter.
It turns out, GDP was contracting at 8.9 percent — massively more than anyone realized at the time.
Romer was working off very imperfect data. If even the BEA didn't realize how bad the economy was until July 2011 — over two years after the original stimulus — then Romer could have had no clue.
Read more: http://articles.businessinsider.com/2012-03-09/politics/31138584_1_stimulus-christina-romer-unemployment-rate#ixzz2096pQu2Fhttp://articles.businessinsider.com/2012-03-09/politics/31138584_1_stimu...