Obama Administration Acknowledges Stimulus Growth Projections Were Hyped

AP reports on President Obama’s public relations push to put a fresh spin on his stimulus package. Obama’s solution: to follow-up on the initial burst of stimulus spending with…more stimulus spending! But taxpayers won’t be fooled.
From AP:

The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama's handling of the economy has declined along with the jobs data. For the first time, the administration admitted the economic forecasts it used to sell the stimulus were overly optimistic.

As 42% of Americans now express disapproval of his handling of the economy – an uptick of 12 points since February – it’s not surprising to see Obama and his damage control team in full panic mode.