Monday, June 08, 2009

Land of Make Believe: Obama 'Promises' 600K Stimulus Jobs

So let's see how this new math works. Grand High Exalted Mystic Ruler Obama promised the porkulus bill would "save or create" 3.5 million jobs. Well, that's not quite working out since the economy has shed 1.6 million jobs since passage of this monstrosity. So using my crude math skillz, he's 5.1 million jobs in the hole, and it's going to take some time digging out, if he ever can.

So here he comes today making another absurd promise.
President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools and summer youth programs.

Obama is ramping up his stimulus program this week even as his advisers are ramping down expectations about when the spending plan will affect a continuing rise in the nation's unemployment.

Many of the stimulus plans that Obama announced Monday already were in the works, including hundreds of maintenance projects at military bases, about 1,600 state road and airport improvements, and federal money states budgeted for 135,000 teachers, principals and school support staff.
So let's pretend 600,000 people actually return to work this summer (these likely will just be seasonal jobs), what happens if more private-sector job losses offset any of these temporary gains?

How will that be spun?
"Our measure of progress is the progress the American people see in their own lives. And until that progress is steady and solid, we're going to keep moving forward. We will not grow complacent or rest. Surely and steadily, we will turn this economy around," the statement said.
How is the loss of 1.6 million jobs moving forward?
The announcement comes days after the government reported that the number of unemployed continues to rise; the unemployment rate now sits at 9.4 percent, the highest in more than 25 years. Hundreds of thousands of Americans continue to lose jobs each month, although fewer jobs were lost last month than expected.

Just how much of an impact Obama's recovery program had on the pace of job losses is up for debate. Obama has claimed as many as 150,000 jobs saved or created by his stimulus plan so far, even as government reports have shown the economy has lost more than 1.6 million jobs since Congress approved funding for the program in February.
How exactly is this up for debate? He claimed he's create 3.5 million jobs but has done nothing of the sort?

What is there to debate?
Obama initially offered his stimulus plan as a way to put people back to work, a promise that 3.5 million jobs would be saved or created. The administration's predictions that unemployment would rise no higher than 8 percent already have been shattered, leaving Obama's advisers to caution that job growth takes time, even as recovery spending intensifies.
Will they ever admit they're wrong and this reckless spending is doing nothing?

Hell no. They'll just come back and say they haven't spent enough.

Just you watch.

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