"US says stimulus created, saved 650,000 jobs; Critics question whether price tag was worth it" by Matt Apuzzo and Brett J. Blackledge, Associated Press | October 31, 2009
WASHINGTON - Nearly 650,000 jobs have been saved or created under President Obama’s economic stimulus plan, the government said yesterday, and the White House declared the nation on track to meet the president’s goal of 3.5 million by the end of next year.
That can happen when you use a multiplier of 10.
New job numbers from businesses, contractors, state and local governments, nonprofit groups, and universities were released, showing 640,329 positions credited to the stimulus, according to the independent federal board monitoring the program’s progress....
Not like they would have a self-serving interest to over-inflate.
Earlier this week, Governor Deval Patrick claimed that the Massachusetts had created or retained 23,533 jobs as a result of spending $1.9 billion in federal stimulus spending over the past eight months. Those individual jobs amounted to 8,792 full-time positions, according to the administration’s calculations.
Related: How to Make the Stimulus a Success
Believe it or not, the math doesn't add up.
The federal report released yesterday counted 12,374 full-time jobs created or retained in Massachusetts. Patrick administration officials said that the federal estimate also included the jobs that came as a result of federal funds going to nonprofits, businesses, and municipalities....
Government recovery plans - everything from the $787 billion stimulus to tax credits for buying new homes to government deals on new cars - are credited with helping the economy grow again after a long and deep recession.
Yeah, the GOVERNMENT BORROWED MONEY -- at interest, taxpayer-- so they could PUMP MONEY INTO the ECONOMY and CLAIM the RECESSION ENDED because of an ARTIFICIAL and COSTLY INFLATION -- just so THEY COULD LOOK GOOD to YOU, 'murka, as they swipe your wallet!
But the job market has yet to show signs of recovery, putting pressure on the White House to show that the stimulus was worth its hefty price. The economy has shed millions of jobs since Obama signed the stimulus in February....
Then THERE IS NO RECOVERY! Not until JOBS GROW!!
The White House said the latest report bolstered its case that the recession would have been far worse without the stimulus - a package of government spending, tax cuts, state aid, and social programs.
I don't see how BORROWING MONEY for a PHONY, PORK-PROJECT BILL that will COST MORE in the long run helps.
The numbers released yesterday have limitations, since calculating “jobs saved’’ will always produce an inexact estimate, and collecting data from so many sources is certain to produce errors.
Yes, I NOTICED THIS FOLLOW UP PIECE MINIMIZING THAT!
White House economic adviser Jared Bernstein said the figures show that, when adding in jobs linked to $288 billion in tax cuts, the stimulus has created or saved more than 1 million jobs.
That guy is wired up on candy, isn't he?
Bernstein said there’s not a huge distinction between jobs “saved’’ and jobs “created’’ by the stimulus money. Either way, he said, “it’s an unemployed person avoided.’’
But THAT IS NOT STIMULUS so THERE IS a HUGE DISTINCTION!!!
--more--"
"That's not stimulus. Stimulus means starting a company that will CONTINUE to sell products and provide jobs after that stimulus money runs out. Like the road patching operations being funded with stimulus money, once the initial project is over, those people are out of work again, the stimulus money is gone, and there are no operating businesses making products for sale." -- Wake the Flock Up
