Friday, October 30, 2009

One Day After AP Reports 30,000 Jobs Created By Stimulus, White House Now Says 640,000 to 1 Million Jobs Saved By Generational Theft Act

A "Whiskey Tango Foxtrot" moment.

Yesterday, the Associated (with Obama) Press actually did a bit of journalism.

The White House is promising that new figures being released Friday will be a more accurate showing of progress in President Barack Obama's economic recovery plan. It aggressively defended an earlier, faulty count that overstated by thousands the jobs created or saved so far.

Ed DeSeve, serving as Obama's stimulus overseer, said the administration has been working for weeks to correct mistakes in early counts that identified more than 30,000 jobs paid for with stimulus money. He said a new stimulus report Friday should correct many mistakes an Associated Press review found that showed the earlier report overstated thousands of stimulus jobs.
Yesterday, it was 30,000 jobs created by "That One." Today, the White House and media lapdogs are excitedly reporting that anywhere from 640,000 to 1 million jobs were "saved or created" by the stimulus.

Really? Tell that to Fairfax County, VA schools, who are still facing a budget shortfall and projecting even deeper cuts. Where's all that stimulus money saving teacher jobs in one of the best school districts in the nation?

Jake Tapper at ABC News did some math with the White House numbers. Here's what he found.
Assuming their number is right -- 160 billion divided by 1 million. Does that mean the stimulus costs taxpayers $160,000 per job?

Jared Bernstein, chief economist and senior economic advisor to the vice president, called that "calculator abuse."

He said the cost per job was actually $92,000 -- but acknowledged that estimate is for the whole stimulus package as of the end of 2010.

...DeSeve and Bernstein were not able to say how many of the 640,329 jobs were saved and how many were created. How do they know that government officials asking for stimulus funds to help prevent layoffs were legitimate?

"What we have to do is expect that our public officials are honest," DeSeve said. "I know that's a high bar."
In other words, these numbers are bovine excrement. Even See BS news said the numbers are "hard to believe."



So, just how many jobs were created by spending "half a million dollars to study social networks like FaceBook, and $219,000 to study the sex lives of female college freshmen?"

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