Summers: Obama policies averted economic 'abyss'

[WatchManUSA]

http://in.reuters.com/article/businessNews/idINIndia-43108220091012

Here is more hokum and made up “facts” the White House is trying to get people to swallow.  I can’t understand how Maximum Berry can back up these numbers.  But again, there is an old adage when trying to sell hokum.  “Never let the facts get away of a good story.”

Quoting the article…

National Economic Council Director Lawrence Summers

"Thanks largely to the Recovery Act, alongside an aggressive financial stabilization plan and a program to keep responsible homeowners in their homes, we have walked a substantial distance back from the economic abyss and are on the path toward economic recovery," Summers wrote to House Republican leader John Boehner.

Summers told Boehner that private forecasters have estimated that the stimulus program added 3 percentage points to second quarter GDP, tempering what would have been an even deeper economic swoon.

He also said they believe the unemployment rate would be 2 percentage points lower by the end of 2010 than it would have been without the stimulus plan.

[alfsauve]

According to Obama's economic plan,

http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf

we should be at 7.2% unemployment.  The One's numbers his self.  But BLS says we're at 9.8% and rising!

Funny thing is The One said without His stimulus package we might be as high as 9% right now.

Conclusion, by The One's own plan we'd be better off without the stimulus package.

[PegLeg45]

Alf, how dare you go and use that 'common logic' stuff again.