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:
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.