Republican Senate Leader Makes Case For More Stimulus

Dave Johnson

At TPM, in Republicans Struggle To Square Spending Cuts With Job Losses, Senate Minority Leader Mitch McConnell explained why we need more stimulus:

“If government spending would stimulate the economy, we’d be in the middle of a boom,” he said.

Now, look at this chart of job growth/loss by month:

chart_jobs2

In this chart, the RED lines — the ones that keep doing DOWN — show what happened to jobs under the policies of Bush and the Republicans. We lost lots and lots of jobs. The BLUE lines — the ones that just go up — show what happened to jobs when the stimulus was in effect. We stopped losing jobs and started gaining jobs. The TAIL — the leveling off on the right side of the chart — show what happened as the stimulus ran out. Job creation leveled off.

It looks a lot like the stimulus created a boom, compared to what was going on before the stimulus.

Conclusion: THE STIMULUS WORKED BUT WAS NOT ENOUGH!

TOMORROW: Summit on Jobs and America’s Future

On March 10, 2011, the Summit on Jobs and America’s Future will bring together leaders and activists who understand that America faces a jobs crisis – and who are committed to building a political movement for sustainable economic growth, dynamic job creation, and a revival of the American economy.

Free. $15 with lunch. Register here.

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