Related: Stimulating Sophistry
"Obama to deliver speech in N.Y. on financial crisis
See: Wall Street Wraps Obama Speech
Also yesterday, White House economists asserted that the $787 billion economic stimulus package Obama championed had created or saved “slightly more’’ than 1 million jobs and has most helped the states most hurt by the recession.
Yeah, it let them balance their budgets, that's all.
The White House Council on Economic Advisers cautioned that the estimates should “be regarded as preliminary and understood to be subject to considerable uncertainty’’ and that measures other than the stimulus have boosted the economy.
Unemployment is still hovering near 10 percent nationally, and the Labor Department reported last week that since the recession began in December 2007, the jobless rolls grew by 7.4 million Americans. Obama promised the stimulus would create or save 3.5 million jobs by the end of next year.
But critics have questioned the figures as far too rosy and said that it is extremely difficult to determine whether a job has been “saved.’’
“Today’s White House jobs report is one more example of this administration’s use of smoke and mirrors to mask the failure of the Democrats’ costly $787 billion stimulus bill,’’ Republican National Committee chairman Michael Steele said in a statement.
“The reality for countless Americans whose jobs have not been ‘saved’ is they get to join the ranks of the three million neighbors, friends, and family members who have become unemployed since President Obama took office,’’ he added.
--more--"
