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  • Morning Bell: The Obama Jobs Gap

    Last Friday, the Bureau of Labor Statistics released its monthly job report showing that the economy lost 345,000 jobs in May. This brings the total number of jobs lost in the first full three months since the economic stimulus package was passed to 1.5 million jobs. Countering these inconvenient truths, President Barack Obama and Vice President Joe Biden unveiled a new “accelerated” “roadmap to recovery”, which the AP dryly notes “is neither new nor accelerated.” Officially, the Obama administration claims their stimulus plan has already “saved or created” 150,000 jobs, but even that number is fuzzy: This Sunday on CNN, Obama adviser David Axelrod claimed the stimulus “has produced hundreds of thousands of jobs.”

    Even Democrats are beginning to question the integrity of the Obama administration’s economic claims. Grilling Obama’s Treasury Secretary, Sen. Max Baucus (D-MT) said:

    You created a situation where you cannot be wrong. If the economy loses 2 million jobs over the next few years, you can say yes, but it would’ve lost 5.5 million jobs. If we create a million jobs, you can say, well, it would have lost 2.5 million jobs. You’ve given yourself complete leverage where you cannot be wrong, because you can take any scenario and make yourself look correct.

    Baucus is right. Continuing to play the Obama administration’s “saved or created” jobs game is a fool’s errand. They will always just re-tweak their formulas to come up with fake numbers to justify their policies. So can Americans find an objective metric to cut through the mendacity of the Obama administration’s “saved or created” jobs mantra? Yes we can. By matching the Obama administration’s past promises to past BLS data, a clear jobs baseline emerges. When the Obama administration first unveiled the stimulus plan in November they claimed it would create 2.5 million jobs by the end of 2010. At the time BLS reported that U.S. economy employed about 136.1 million jobs. But by January that number fell to 134.6 million jobs. Not so coincidentally, the Obama administration upped the job-creating magic of the stimulus to 4 million jobs by the end of 2010.

    Is there a commonality between these two sets of numbers? There sure is: 136.1 million plus 2.5 million equals 138.6 million; and 134.6 million plus 4 million equals 138.6 million. Voila: the objective, Obama administration created, BLS data verifiable, jobs accountability number is 138.6 million.

    So how is the Obama administration doing so far? According to the BLS the U.S. economy currently employs 132.2 million people. In order for President Obama to meet his promise to the American people, between now and the end of 2010, the U.S. economy will have to create 6.4 million jobs. The President had better get busy.

    Quick Hits:

    • Citing the Supreme Court case that rejected President Harry Truman’s seizure of the nation’s steel mills, Indiana state pension and construction fund representatives won a temporary injunction blocking the Obama administration-brokered sale of Chrysler to Fiat.
    • Following the Obama administration’s lead, cities and states are handing out financial support to prominent businesses including cash, tax forgiveness, loans, loan guarantees and other types of aid.
    • According to Rasmussen Reports, only 42% of those who currently own a General Motors car are even somewhat likely to buy a GM product for their next car.
    • Almost half of the nation’s 20 largest union pension funds are so underfunded that federal law classifies them as “endangered” or in “critical” condition.
    • According to a Politico analysis, President Barack Obama invokes Jesus more than George W. Bush did.
    Posted in Ongoing Priorities [slideshow_deploy]

    58 Responses to Morning Bell: The Obama Jobs Gap

    1. MAS1916 - Denver, CO says:

      Baucus at least understands the Obama political posturing – their claims will be impossible to prove. CNN dutifully reports Obama's claims as facts though, so it is interesting that a Democrat would raise issue with it.

      The Obama economic plan though, is bound to fuel very high inflation which may very well kill off any jobs recovery. Look for Team Obama to try and put the best face on inflation in the near term. ( for a top ten list of what the administration sees as its top ten positive things about inflation, you can view: http://firstconservative.com/blog/political-humor… )

    2. Charles, Texas says:

      You can fool some of the people all of the time and all of the people some of the time but you can't fool all of the people all of the time. This administration is all smoke & mirrors, a giant shell game with no sense of reality except for it's lust for control. I guess all this fuzzy math is Bush's fault. Michael Savage is right, Liberalism is a mental disorder.

    3. Michael - New York N says:

      Obama, Geithner, and Joe Biden employ the economic theory knows as La théorie économique de la fantasy. Written by Jean Paul Sarte.

    4. Ozzy6900, CT says:

      "This Sunday on CNN, Obama adviser David Axelrod claimed the stimulus “has produced hundreds of thousands of jobs.”

      I would like to see a list of these jobs! I think that this statement is pure bunk! The Government cannot "create" jobs!

    5. Teresa Rice says:

      Of course the Obama administration wants to look as rosy as possible and fugde the correct or real figures in the process. Somehow citizens will have to keep a close watch on whether jobs were really saved or not, and whether any jobs are created or not. Then, we have the right to hold our govt. officials accountable if there are any false claims.

    6. William R. Casey, PE says:

      The Administration and their MSM butt kissers see a bright side of the 345,000 job loss since it was lower than "experts" predictions. When did you ever see the financial "experts" ever predict anything that met their expectations?

    7. Shawn Overcash, Char says:

      can you please ALSO subtract out the jobs created that are "federal gov't" jobs that are bought and paid for with oppressive taxes on the coming generations???

    8. Randall Doc Fleck says:

      So… What would you do with this mess? We were in the beginning stages of a recession when young George took office and it's all gone down hill from there.

      I'd say we ought to show a little more effort at making useful suggestions for improvement rather than just booing the efforts of those who are busy trying.

    9. Richard Cancemi, Arl says:

      I recall the USSR in the past making all kinds of predictions about goods production and grain crops only to fall far short of their promises each year. Obama and Biden seem to be taking a page from that history.

      I am still waiting for the truth to come out of Obama's mouth. Only his actions speak the truth, namely, that he is an out and out Socialist!

      He is being allowed to trample on and destroy everything that has made America great and seeks to re-create it in his image! Being elected doesn't give him that right. He is supposed to preside over the Country within, and NOT without the guidelines of the Constitution. He has violated his oath of office every day since swearing to uphold the Constitution! I do not want to live in his "Brave New World" of Socialist oppression!

      He needs to be impeached!

    10. Grace, Florida says:

      Obama actually thinks he can hoodwink a majority of Americans into believing this nonsense. Saved jobs? Show me – how – certainly not b/c you say so. He must think we're all as dumb as the people who voted for him.

    11. Jonathan Seid, Willi says:

      In as much as we are adults and have lived quietly during the administrations of democrats and republicans, raise your hand if you believe the president when he quotes numbers about saved jobs. I thought so. When a politician is talking, he is obfuscating. As a child, I would get smacked for it. As an adult, I can get people to vote for me.

    12. michael hutchings says:

      what are we going to do as a nation when the next generation has to pay for their own shiny new chains and work for less in the service of green nonsense and an EPA with the power of life and death over manufacturing or carried to the full extent of the law all that breathes dictates what can and can not be produced?

      you speak correctly. what jobs is he talking about and by what device is it possible to claim progress? bagdad bob would be proud of such as this and no doubt the worshippers will be pleased.

    13. Ed Brown - Louisvill says:

      Government by Thuggery and Deception

      The New Deal failed to restore economic health, but it did expand the power of government over the people. It was not the usual contest of partisan or bipartisan, Republican versus Democrat, rather it was more basic. It was the classical republic versus the classical democracy. Government, since the 1910 constitutional amendment to permit the electorate to choose senators directly, rather than through their state legislatures, was becoming less a representative republic than it had once been. It was now being more directly controlled by the people. Voters no longer asked what government was doing on behalf of the general welfare, voters were asking in a very democratic way what the President was doing for them. In his 1961 inaugural address, President John F. Kennedy stated a new approach when he said “ask not what your country can do for you, ask what you can do for your country.”

      As Amity Shlaes points out in The Forgotten Man, the real heroes of the day, were those people, extraordinary individuals who embodied the American Character by aiding and inspiring their fellow citizens in a variety of innovative ways. Roosevelt claimed that his administration had endeavored to "establish new institutions of public power” but as usual it was the the act of "reconciliation." One side, namely the government, gets the power while the other side, the people, gets reconciled to it. Obama seems to be saying "it's your money and I want it now."

    14. Michael - New York N says:

      I am deeply concerned and alarmed that this morning I awoke to find that this democratic administration brought a terrorist to our great city of New York, without warning and under the cover of darkness. What happened to transparency? I survive the 9/11 attacks as I was in the North Tower on that day, and now this democratic administration is doing what the terrorist want most; being here on U.S soil. I hope our elected officials respect the feeling of New Yorkers about this reckless policy, and keep these people where they belong; it is not here. Obama and Holder are more concerned about liberal european opinions than protecting Americans. We have lost the counrty.

    15. P Saunders says:

      "fake numbers" is right. The whole Obama Administration is FAKE. It is a destroyer of AMERICA. This administration is a domestic terror from within.

    16. jim smith new york says:

      This may surprise the Nobama Administration, but unemployed people tire quicker from the spin, obfuscation and the dodgeball answers they're getting about "saving jobs". Like, we have this "job", but we're "saving" it for later, or better yet, never. There is no way to measure job number changes that anyone should believe.

    17. Ben C, Ann Arbor, MI says:

      Almost half of the nation’s 20 largest union pension funds are so underfunded that federal law classifies them as “endangered” or in “critical” condition.

      WOW – looks like unions will get money from us at both ends. If Congress and Obama start talking bail out for union pensions I will have reached my tipping point. This money madness has to end – now.

    18. Jon, Chesapeake VA says:

      This is the same old story with this administration. They say that they saved or created 150,000 jobs but yet we have lost 1.5 million. HOw does that add up? They said that unemployment would not go above 8% with the stimulus and here we sit at 9.4%. We cannot continue to print money without causing serious harm to the economy in the future. This president may not pay for it but but the next one will. When is someone going to question the antics of these people?

    19. Whicket Williams Kin says:

      Lying has worked well for him so far, as no one has questioned him. I sincerly hope that has changed. And I hope he will be called to answer for the laws he has broken, or caused to be broken and he must be made to support the constitution instead of dismantle it. Whith his lies exposed, even the koolaid drinkers will abandon him, and he will be hated even more than Bush was, after the propaganda machine had thourghly savaged him for 4 years.

    20. Normca says:

      As we all know government only creates jobs for themselves and they have created jobs for themselves so far. This government does not know how to create a conducive environment so that the private jobs can be created. And Obama wants jobs lost; he wants people hurting so they can depend on the gvt. It is a presidential administration that first paid back its benefactors with the benefactor stimulus bill, then sought to do "something" about their voters. It looks like he is failing. I want him to fail because his policies are contrary to our way of life. I actually attribute all polices to Obama he has his footprint on everything since 1-21-09 and as a democrat since 1-21-07.

    21. Helen - Illinois says:

      If they had put the wall street CEO's and the bankers in jail for life for the mess they have made from their theft of America and then put cheney, bush, rumsfield and gingerich on trial for lying – this country would not be in the shape it is in. Then you would not have to waste your time thinking up ways to blame Obama and the taxpayers.

    22. tom coalvalley,il says:

      Once again the democratic party and their puppet lie to the American people. This President is in way over his head and makes Jimmy Carter look like a genieus. We need to stop the political correctness in this country and get back to being an open and honest government of the people by the people for the people. It isn't the end of the world we just need to make the chnges in the house and the senate to get control of the country again.

    23. David Sayers, NC says:

      Obama is a fraud and a liar, Biden is a fruitcake and the rest of the gang are just a bunch of thugs. Get rid of all of them now,don't wait,do it now.

      Childish pipe dreams and fantasy just doesn't cut it. Nothing has worked,nothing will work because you cannot spend your way out of debt. How long are we going to let this marxist tear down this country? Impeach him and then vote the rest out of office.

    24. Mike in Omaha says:

      The 138.6 million employment figure is a good benchmark to remember, BUT we must add to it the annual increase in the employable population. How about giving us those numbers, too, Heritage?

    25. Marty, Chicago says:

      The "Stimulus" was backloaded into 2010 and later all along, should be no surprise it isn't doing much good at this time.

      Of course Baucus is right, the news is that discontent with Obama's handling of economy is showing in the polls and he (Baucus) is saying out loud what all the Dems were thinking but kept to themselves, before.

    26. John, Deer Park, TX says:

      Helen,

      First you need to prove an actual crime the "wall street CEO's and bankers" committed…unless you wish to become the USSR. Next you have to prove that VP, President Bush et al were actually lying and not just relying on facts they had been given from operatives.

      No one is blaming the true taxpayers for this mess, other than being fool hardy enough to vote in some less than reliable representatives. The alleged taxpayers, those on the bottom rung knew that they were voting themselves in a free ride.

      As for blaming Obama, the proof is rising. His policies will surely screw up things in the business world. His takeover of the auto industry is unconstitutional. Now that is actually against the law!

    27. Pingback: Obama skepticism « The Tiger in DC

    28. Steve, Ohio says:

      John, come on…back off Helen. She doesn't pay taxes. No one who voted for Osama does or they wouldn't have voted for him.

      She just wants what he said he would take from us and give to her. She hates Republicans, not realizing that we must be here to pay for her future. Socialism and Fascism does not work if everyone is standing around with there hands out…hmmm Russia collapsed a few years ago because everyone had their hand out and wasn't doing anything, no worries however Cuba and Venezuela are still shining signs of how well Socialism works…

    29. Mike, Hickory, NC says:

      (Quoting from “The Obama Jobs Gap”) “So how is the Obama administration doing so far? According to the BLS (Bureau of Labor Statistics) the U.S. economy currently employs 132.2 million people. In order for President Obama to meet his promise to the American people, between now and the end of 2010, the U.S. economy will have to create 6.4 million jobs. The President had better get busy".

      Yes, as Shakespeare said, "Much truth is oft spoke in jest", but that last shot, “the President had better get busy” can actually help make "friendly fire casualties" of those who have any tendency to believe that it’s “the President” (or any other part or level of government) who ought to get busy.

      How so? The fact is that not only are the terms "create or save jobs" and "created or saved jobs", and the use of them, the manipulative "brain child" of elitist and statist power and money-grabbing politicians who get it and want it to be backward, but the fact is that neither "the President (of the U.S.)" nor Congress, nor, for that matter, any other part or level of government "creates or saves jobs". Instead, we, the people (meaning private individuals, groups, and companies, etc.) do the creating, generating (including of government and non-government income), and even replacing necessary for there to be real "job creating", etc, which has also required and now again requires the replacement of elitist and statist power and money-grabbing politicians who get it and want it to be backward.

    30. JDB, Nebraska says:

      Randall Doc Fleck writes:

      So… What would you do with this mess? We were in the beginning stages of a recession when young George took office and it’s all gone down hill from there.

      I’d say we ought to show a little more effort at making useful suggestions for improvement rather than just booing the efforts of those who are busy trying."

      So if I get this straight GW Bush inherited a recession, held it off and kept unemployment down around 5% for seven years and once Obama came into office he screwed it up and has turned a minor recession into a full blown mess. Sounds about right. But back to the story, this White House and the media will go down as the greatest disinformation administration in the history of this country. We thought digging out of the Carter years was bad, just wait till we begin digging out of the Obama years.

    31. Pingback: Morning Bell: The Obama Jobs Gap » The Foundry : PlanetTalk.net - Learn the truth , no more lies

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    33. Jim in Orlando says:

      Finally, an article that defines how you save jobs. Obama said he save 150,000 jobs but it appears, according to the logic in this article, he is about 6 million jobs the wrong way.

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    38. Mike, CO says:

      “Obama administration created, BLS data verifiable, jobs accountability number is 138.6 million.”

      I’m grateful that you quantified the employment number so that we are now able to rationalize the problem. The guiltless and useless abstractions from the Obama adminstration are too much to take.

      I do not think that Obama understands the significance of the number of jobs he talks about. A huge company like GM employs about 300,000. His goal is to add 2 GMs to the economy in a short period of time. And those are government jobs, not private sector jobs.

      The overhead required to hire all these people is enormous. What’s worse, unless all are hired for shovel ready infrastructure projects, what immediately stimulative and gradually beneficial impact would these government jobs have?

      If we are to analyze the process logically, Obama is simply making a hail mary pass with the economy. He is resorting to policies developed during the great depression, expecting that they will have different results today. I have no faith that those policies will work any better, and there is already evidence that they may make the economy worse.

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    40. Sean, Huntsville says:

      What ticks me off the most about Obama's fantasy numbers is that there are real people being hurt, losing their jobs and homes and being evicted from their apartments. I have a friend, a good man, former cop, who has done nothing but serve the public most of his life- in a dangerous profession to boot- he is about 21 days from being homeless- it is so sad to see the way this proud man's spirit has been crushed by this. He had not only one job, but two, and lost both with in two weeks.

      You can read about him here at the fund raiser his sister is doing for him trying to prevent him from becoming homeless- And if you are a blogger you might be interested in what she is giving a way for every donation.

      http://mylastshredsofsanity.blogspot.com/2009/06/

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    43. Tucano Fulano, USA says:

      With a "friend" like BHO American labor doesn't need enemies.

    44. Barb -mn says:

      Out of the president’s proclamation, how many jobs are permanent? Not many. Which is another future government induced crisis.

    45. Richard Cancemi, Arlington,Tx. says:

      Obama’s flim flam about jobs saved reminds of the joke wherein a man is brushing the front of his shirt with his hand and someones asks him what he’s doing. He answers that he’s keeping away elephants!. The questioner says but there are no elephants here! And the man brushing his front says SEE! It works!

    46. Joe White, Quinton T says:

      Whether one likes it or not "PC" is the acronym for "political cowardice", with that being said and indulging in some political bravery— what's different about this pathological liar than what the Clintons were when they were in OUR White House? The Empty Suit is a sham..like all socialists; childish, arrogant, etc.

      Maybe when all of the fools who voted for the Empty Suit- lose their 401(k)s into the financial abyss the sham and his ilk are creating….they'll wake up—— one has to hit some Americans in their wallets before one can have their undivided attention.

    47. Faye Bryan, Mississi says:

      All sane, clear-thinking people of this country can see what is going on in this Chicago-mob-like administration. The question is: WHAT CAN WE DO ABOUT IT NOW?

    48. Dennis A. Social Circle Ga. says:

      If we continue to believe this pile of crap this country will go down the tubes. He is like clinton, he can talk the talk, but not walk the walk. Wake up America and see that all obama is is talk and no solid action. This country can not survive on just talk. THE DEMS HAVE TO GO IN 2010.

    49. Bandit, Boston, MA says:

      Keep in mind vast majority of the jobs ‘saved or created’ are public sector not private sector – meaning we’ll be paying for them forever.

    50. tom coal valley says:

      Helen Helen Helen from Illinois. This is not the Bush Cheney problem anymore you need to give it a rest along with the rest of your socialist biddies. Being from Illinois myself I have seen what your Democratic party has done to this state. Now go back to sleep!!!!!

    51. sherrill , NY/ NJ says:

      Helen, Obama doesn't "think" you're stupid…he KNOWS you're stupid and counts on it. You will be sorely surprised to wake up in the Soviet Union with all of your rights gone and Emperor Obama telling you how to do everything you'll be allowed to do….not much. Illinois is a lost state…..the Obamas (who are puppets) worked hard to destroy it and to get mindless people like you to put them in national power. What did Bush ever do to compare to what is happening now? He kept you safe from terrorists…..maybe he should have let them have Illinois.

    52. Pingback: The Obama Jobs Gap « Conservative Thoughts and Profundity

    53. mactx says:

      watch accorn and the fed gov grow a few more zars

      it won't be hard to meet the quota. how much more will it take before the main meada is backed into a corrner, and the people say man what just happened. look at the unemployment statics,look at your life saveings account. how much more can the states afford unemployment benifits with less money coming in. if you arn't awake yet wait till they rush through cap and trade and national health

      care i guess the we will see if the saying is right you can't squeez blood out of a turnip.

    54. debug, san francisco says:

      Since there are millions of highly skilled Americans unemployed Obama should cancel all Workers under the temporary Guest Worker Visas like H1b and L1. This move alone will open up a lot of high paying jobs. These visas are only if we have a shortage of skills, well at this time there is no shortage.

    55. buzz, NY says:

      Obummer will create millions of jobs.., when he finally organizes his private anti-revolutionary civillian security force, that's "just as strong, and just as well funded as the military." You know all those 18-21 year old, wannabee gangsters, the ones with backwards hats and pant waists below their crotches.., well they will be the captains… god help us

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