From Powerline Blog.

Excerpt:

I have been puzzled by the extent of the media coverage of some crank’s prediction that the world would come to an end today. People are always predicting the end of the world. So far they have always been wrong. Was there something about this particular prediction that was newsworthy? Did any significant number of people expect to wake up this morning and see graves opening and people ascending into Heaven? This morning, there were news stories to the effect that the world still exists. Really! Did reporters expect their readers to be surprised? Why, in short, was this silliness a major media event?

I wish reporters would pay as much attention to a more important failed prediction: the Obama administration’s assurance that its policies, including the “stimulus,” would foster job creation and prevent unemployment from reaching 8 percent.

And here are some charts from John’s post.

Community organizer Obama predicted that his $800 billion dollar stimulus program would keep unemployment below 8%:

Ooops! Never send a community organizer to do an economist’s job.

How about all that spending? Surely ALL the spending must have created more jobs?

Hans Bader of the Competitive Enterprise Institute links to a new study by two economics professors that shows that 550,000 jobs were LOST because of the stimulus bill.

This should be the end of the belief that government spending creates jobs, but it won’t be, because the university is not committed to teaching what gets results, but what produces feelings of superiority. The secular elites feel that they should be allowed to redistribute the wealth created by businesses and workers. This feeling of entitlement to control and distribute is best put into practice with large-scale taxation, spending and redistribution of wealth. The professors think that their good feelings (subjective) will somehow, mysteriously, cause good effects in the real world (objective). The chart proves their mysticism wrong, but the university is insulated from feedback from the real world.

That is why we need to elect business owners like Michele Bachmann or Herman Cain.