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  • Fact Checking Biden

    Yesterday Vice President Joe Biden delivered the first quarterly report on the status of the Obama administration’s $787 billion program, claiming “significant progress has been made toward implementation.” The Associated Press’s Matt Apuzzo fact checks some of Biden’s claims:

    THE WHITE HOUSE SAID: The stimulus has created or saved 150,000 jobs.

    THE FACTS: Since February, the nation has lost more than 1.3 million jobs, according to the Department of Labor. To make the case that the country created jobs over that same stretch, the White House has put forward a benchmark of jobs created “or saved.” The argument is that the job numbers would have been even worse had it not been for the stimulus, and the difference between those numbers is a net positive.

    To visualize that disconnect, consider this: The administration has promised to create or save 600,000 more jobs in the next 100 days. Even if the nation loses another 5 million jobs during that span (a highly unlikely prospect) the White House could still claim success. …

    Spending money will put people to work. But spending has a cost. At some point, Washington will have to pay for this program, either by raising taxes or interest rates, and those policies typically hurt job growth. The Obama administration’s job data do not take into consideration this back-end cost, an omission some economists, particularly conservative economists, say is a flaw in the analysis.

    ___

    BIDEN SAID: First-time homebuyers are “driving increased activity in the home sales market,” while mortgage and title companies are hiring more workers because of the first-time homebuyer tax credit included in the stimulus bill.

    THE FACTS: The report cites anecdotes from a New Orleans business journal to back up the claim. It’s true, buyers are taking advantage of the $8,000 first-time homebuyer tax credits. The IRS said more than 567,000 tax returns claimed the credit in just the first weeks of the program. But that hasn’t provided an immediate turnaround in the market.

    Since February, sales of existing homes have fallen 3 percent and new home sales are down .6 percent.

    And the number of jobs in the real estate industry has declined by about 20,500, according to the Department of Labor.

    There are signs that the housing market is improving. But the numbers suggest that if the market bottomed out, it did so in January, before the stimulus was passed.

    ___

    BIDEN SAID: Employment agencies are placing more workers in jobs, and demand is up since February.

    THE FACTS: The report cites an interview with an employment service manager quoted in the same New Orleans business article. The anecdote may be true, but it’s impossible to extrapolate that any further, even just to New Orleans. The city has lost more than 200 jobs since February. Overall, Louisiana lost 16,085 jobs over the same span, according to the Department of Labor.

    Posted in Ongoing Priorities [slideshow_deploy]

    15 Responses to Fact Checking Biden

    1. Pingback: » Financial News Update - 05/14/09 NoisyRoom.net: “Extremism in the defense of liberty is no vice. Moderation in the face of tyranny is no virtue.” Barry Goldwater

    2. Grace, Florida says:

      Obviously good ole Joe is counting on people not to really check "His" facts. He's just another liar in the den.

    3. Chitown, Chicago says:

      Biden got good training from all the "Corrupt Chicago Liars" in the Obama Administration (Chicago Machine Required Policy).

    4. Duck Doger in DC says:

      Joe Biden is a typical "progressive" — he means well and we should give him cudos for his intentions — not his results — or the facts.

    5. Dick Ess Boston, Ma. says:

      "Facts? We don't need no stinking facts!"

      What's to check?

      Joe will just make up another comment to offset anything you say.

      Truth and politician are mutually exclusive. That goes for both parties. Just pick a lie you want to believe.

      Our problem is we pay attention to their words and just watch their actions withot our own action.

      I'm a citizen of America (USA) Americans elected these bpzo's. We got what we deserve.

      Civics is the exercise of Duty and Responsibility.

      We exercise our civic duty. We vote.

      We just don't do it responsibly.

      4 years. My God I hope we survive.

    6. Larry, in the Republ says:

      I think the header picture says it all! Biden is thinkin' "How the hell am I gonna pull this off?" and Obama is thinkin' "Why do WE keep holdin' these Press Conferences? Oh what is he gonna say this time?" So, is the Press Secretary ready to tell us what Biden "didn't REALLY say this time" or will He leave us to our own perils?

    7. Tom Iowa says:

      Truth in politics.. Is'nt that an oxy-moron??

    8. Tom, New Jersey says:

      How many lies do the democrates hope the public will forget besides those of Biden? How about Dodd and AIG? Frank and FannyMae? Shumer and Washington Mutual? Pelosi and the CIA? Politicians do lie, but these folks are pure operatives of deceit. All for power and control over the people they supposedly serve. Progressives do not believe in America traditions or the Constitution, which they want to change by using their methods of ambiguous lies. Most of our major media even operates this way. Thats how we have the most unqualified President elected in American history.

    9. Vincent Molloy,New H says:

      Liar,Liar pants on fire Pelosi. Can you believe the halting,fumbling,suttering,can't find my notes act, that the Speaker of the House put on yesterday? She should resign immediately. She has no creditiability.

    10. Dennis A. Social Cir says:

      The jobs that have been created are with the federal "guvernment'. These jobs are still at the expense of the tax payer. Other jobs do not exist for the common person. How many more lies are we going to hear from the obama clan????

    11. Moose says:

      Joe was never any good at telling the truth.

    12. JRT, Detroit, MI says:

      Joe should be the Democrat (socialist)Party spokesman. He does what the impotent Republican Party cannot.

    13. Sharon Georgia says:

      Joe Biden is a pathetic loser just like his boss Obama. Who cares about the truth or so they think. These idiots think that the American people are so stupid that we do not have enough sense to check what he says. There is to much drooling and starry eyes but Obama needs to remember and the pathetic Joe Biden 47% of Americans did not vote for these idiot thugs

    14. Ross Writes, Bradent says:

      I did see the Disney animated movie, Pinoccio. Is this why the Democrats use the mascot of a jackass? Who is the puppet master of this bunch of clowns? The teleprompter!

      Who is really inside the teleprompter? Has Tom Riddle, alias the dark Lord Voldemort(You-Know-Who's) taken up resident in the president's and VP's teleprompter until You-Know-Who finds a willing host? . . .Harry Potter where are you! We need you! There must be a logical answer to these irrational outburst and actions.

    15. Marshall Hill MI. says:

      Biden the Hero!

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