CHART OF THE DAY: Obama's Biggest Failure

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Earlier today, Business Insider Editor-in-Chief Henry Blodget wrote about how President Obama might get pushed out of office due to the fact that his projection for unemployment, when he pitched the stimulus, was far below where it is now.

In 2009, the government passed the American Recovery and Reinvestment Act, which was expected to move unemployment to 7.0 per cent in 2010. Now, according to Obama’s task force, it should have roughly 5.5 per cent.

Three years later, unemployment remains substantively above that — currently at 8.2 per cent.

This is the updated chart showing how far off those projections were.

chart of the day, unemployment rate, july 2012

SEE ALSO: CHART: This Week’s Huge Jobless Claims Drop In Context >

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