Barack Obama might have chosen a better opener for his speech today:
Almost exactly one year ago, on a cold winter’s day, I met with my new economic team at the headquarters of my presidential transition offices in Chicago. Over the course of four hours, my advisors presented an analysis of where the economy stood, accompanied by a chilling set of charts and graphs, predicting where we might end up. It was an unforgettable series of presentations.
Was this one of those charts?
Obama’s economic team predicted in January that without the stimulus plan, unemployment would rise to 9 percent. It rose to 10.2 percent before leveling off last month. Yet, in his speech today, Obama said that thanks to the stimulus, we’ve avoided those terrible scenarios his economic team predicted in that series of “unforgettable” presentations. If that’s what he thinks, those presentations must have been quite forgettable. The jobs picture is currently worse than his team predicted it would be.