An unexpected drop in retail sales in December 2009 breaks the all-time biggest yearly drop – EVAH! Don’t miss that. Never before have retail sales plummeted to the depths of that of 2009. In the meantime, Christina Romer points out that the economy, according to this administration’s fuzzy math and gestimates, is better off than it would have been without the stimulus, with 1.5 million to 2 million fewer jobs, and Romer believes that is a stunning result:
That’s truly a stunning and important effect”, Christina Romer, the
council’s chairwoman, said in a conference call with reporters. “It has
done exactly what we have anticipated it would do.”
What happened to all that stash Obama was putting into our paychecks to filter back into the economy? Remember when he said this:
By April 1, a typical family will begin taking home at least $65
more every month,” the President said in his weekly radio and Web
address. “Never before in our history has a tax cut taken effect faster
or gone to so many hardworking Americans.”
Some 95% of working families will see a tax cut, he said.
Ace looks the gestimates, sans-facts, and “saving” jobs as opposed to “creating,” jobs and “partly funding” jobs – all so stunning in so many ways.