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  • White House: 3.6 Million Jobs Lost is "Quite Positive"


    The Obama administration released the first hard numbers on how many jobs their $787 billion stimulus package has created or saved on Recovery.gov today. The number: 30,383 jobs from roughly $16 billion worth of stimulus contracts awarded directly by federal agencies.

    Crunching the numbers, that comes to $533,000 per job “saved or created.” To put those 30,383 jobs in perspecitve, consider that the U.S. economy lost 263,000 net jobs just last month and has lost 3.6 million net jobs since President Barack Obama was sworn into office.

    But the administration also claims that federal contractor spending is just one portion of the overall stimulus “buckshot.” Last month at the Brookings Institute, Vice President Joe Biden claimed that White House computer models showed their stimulus plan had already saved between 500,000 and 750,000. And just how accurate are these White House economic  models? Well, when the White House was pitching its plan to the American people, White House economic adviser Jared Bernstein wrote a report claiming the stimulus would keep unemployment under a peak of 8%. And what have actual Bureau of Labor and Statistics shown? A a 26-year record high of 9.8% unemployment rate.

    So what does Bernstein have to say about the stimulus now? Associated Press reports:

    Jared Bernstein, the chief economic adviser to Vice President Joe Biden, said it was too early to draw conclusions from the data “but the early indications are quite positive.”

    Heritage fellow J.D. Foster explains where Bernstein’s fancy model went wrong:

    The Keynesian stimulus theory fails for the simple reason that it is only half a theory. It correctly describes how deficit spending can raise the level of demand in part of the economy, and ignores how government borrowing to finance deficit spending automatically reduces demand elsewhere. Exculpatory allusions to idle saving simply do not wash in a modern economy supported by a modern financial system. Deficit spending does not create real purchasing power and so it cannot increase total demand in the economy. Deficit spending can only shift the pattern of demand toward government-centric preferences.

    Posted in Economics [slideshow_deploy]

    27 Responses to White House: 3.6 Million Jobs Lost is "Quite Positive"

    1. Leon, Durango, CO says:

      My ears went up when Obama changed is tune from "Creating new jobs" to "SAVING or creating new jobs." Right away I knew that Obama's mouth was moving again. You can't count SAVED jobs and that hides the fact he hasn't been able to create but a handful of government jobs. No surprise these liars are saying "Good News!" every time we lose another quarter million jobs. "It wasn't as bad as we thought!" So when all the jobs are gone they will be saying "Good News!" but they really mean it. The good news is that the American Economy will have failed and Karl Marx's 100 year program will have been completed by our DIS-loyal opposition. These guys are traitors, plain and simple.

      Now then, Nancy Pelosi wants a Value Added Tax, not to replace our regressive Income Tax but IN ADDITION to the Income Tax. Imagine how many jobs there will be saved by our having no capital at all. With a VAT they will take your Capital away before anything is ever sold. It is the only thing more regressive than the Graduated Income Tax. Obama will be saving us from having to work, so I guess that is what he really means by "jobs saved."

    2. Bobbie Jay says:

      the incompetence is so classic. they can't even give a specific indication of "saving or creating." Of course it's good news to the government. the more GOVERNMENT CHOOSES TO SET MANDATES AND UNREASONABLE REGULATIONS, the more unemployment in the private sector, the more they can hire in their sector of jobs already created. Lets keep in mind that what is happening to America is by MAN=MADE CHOICES OUT OF OUR CONTROL. Government isn't suppose to have freedom of choice!!! they work for us…

    3. truthteller says:

      The situation is bad enough that YOU do not need to lie about anything. I refer to the caption of this article stating that the White House says 3.6 million job loss is "quite positive". The words were not referring to the job loss as being good news. It clearly states that the indicators are too early to predict but that the unemployment picture appears positive. At that time the trend seemed to be down. No one can predict such unsure matters. No need to mis-state the reporting.

    4. Pingback: “3.6 Million Jobs Lost is ‘Quite Positive’” « Patriot Burr

    5. jim smith says:

      We have turned the corner, stepped back from the brink and conditions have generally improved. Even the crack team of czars are officiating at the demise of our vaunted legislative branches. Soon, labor unions will start running AARP and newer, lighter baseball bats will be issued to older members who are frail. What a country !!

    6. Jill, California says:

      Just for grins, let's see how those numbers look when put in other contexts …

      Under Obamacare, doctors treated 30,383 patients today, while 3.6 were turned away by overworked professionals unable squeeze them in. Impressive.

      Under Obamacare, healthcare professionals saved 30,383 ill or injured people today, while 3.6 million died because it wasn't cost-effective to keep them alive. Impressive.

      I bet Biden never dreamed Obamacare could work so well.

    7. Pingback: Anita Dunn: I turn to Communist Killer Mao Tse-Tung as my Political Philosopher (video) « VotingFemale Speaks!

    8. Earl, Queens, NY says:

      What else is new? As usual, Obama Been Lyin’ just talks about how great things are going. He lies about creating or saving so many jobs. In fact, just the other day he actually said the economy is better today than when he took office. Anybody who believes that probably believes in the tooth fairy!! This country has lost millions of jobs since his inauguration, and unemployment is at a 26-year high!! As far as I’m concerned, the 2010 and 2012 elections can’t come soon enough!! We can only hope that the voters will wise up and correct the mistakes they made on 11/4/08!!

    9. Ham Lake MN says:

      Gov't is a "black hole", it makes nothing, it just consumes. To destablize the US the Marxists must destroy all the Middle Class they can. Our jobs, savings, businesses, while building support with Unions and minorities. Thus a huge increase in Gov't jobs and welfare pay outs, (36%).


    10. Leon, Durango, CO says:

      Yeah Jill, that's hilarious. The funniest part is how the Doctors are spewing about tobacco and high cholesterol. I doubt their research. When the Socialists went after the Tobacco Industry all kinds of faulty studies were done. Now that nearly every American industry is under attack, it gives me pause. Tobacco used to be a treatment, a medicine that went wildly out of control (it was for consumption/tuberculosis). The same kind of junk science has been used in Big Al's gore, the Global Warming baloney.

      I told my doctor "Smoking is an unreliable suicide!" and it is. It is more dangerous to force smokers to go outside in the cold. Exposure is a known thing, whereas smoking studies rely on statistical analysis. It is like the way they did rat studies on artificial sweeteners with massive overdoses, as if dose didn't matter. Science itself has become suspect. Statistics has supplanted analysis, we don't analyze anymore, we just pay these fools to spew statistics.

      In order to melt the Greenland ice it would take fifty years at seventy degrees! But as you say, these Greenies don't need facts, they just need all your money.

    11. Louis L Cesar F Levy says:

      It is wise to remember WHO is really speaking behind these words. The true Enemy is in fact happy about these numbers. It's positive in this War brought in against America. The puppets they manipulate and animate are left but with the choice to issue these kinds of statements.That's why WAKE-UP Sleepy GIANT so that to change this situation before its late. And forgive them, for Dey Know Not.

    12. Bob, Portland, OR says:

      Americans…We all need to write down and remember every rediculous lie this administration and friends tell us.

      Why write it down you ask?

      Its simple, we Americans have a habit of forgetting things, especially when they are negative.

      We can't forget these lies they are telling us so when they come up for re-election we vote them out.

      My moderate friends…Organize and vote!

    13. Jerry from Chicago says:

      It will be good news when the "good news" stops being that the bad news isn't as bad as we thought.

      I often wondered where Joe Biden got his material. I'm pleased to learn that he has an advisor helping him craft his various statements.

      If Mr. Jared Bernstein is also the chief economic advisor to the Democrats in Congress, I can see where they get the idea that insuring another 40 million or so people in this country will actually reduce the national deficit. By projection then, if we provide free health insurance to the rest of the third world, we will be swimming in surpluses. What a great way to make money! why didn't anyone think of that before?

    14. Jeanne Stotler, wood says:

      +When all this talk started about global warming I told my family it was bunk, they asked how did I know. Well in 77 years here on earth I had seen winters were we wore spring coats to church on Christmas, seen it snow in May and Oct I remeber my kids getting sleds for christmas and it never snowed that year, the next we had a blizzard that shut everything down(1966). I explained that weather was in cycles and always would be. this summer has been on the cool side, I remeber summers with draught and heat, in the "40's, I would sleep with my pillow on the window sill. Too bad Gore got rich doing this scam. Carbon Dioxcide, is that we exhale, guess we should all stop breathing, but then plants and trees would die, Mother nature seems to correct herself without Gore's help as he jets around in his big jet and Obama seems to be racking up the miles on Airforce 1, what users they are.

    15. Pingback: White House: 3.6 Million Jobs Lost is “Quite Positive” -> NewSpeak « News You May Have Missed

    16. Pingback: Michelle Malkin » Stimulapalooza: 3.6 Million Jobs Lost is “Quite Positive”

    17. D,Draco; Groton, CT says:

      Lets ask why Al gore got over $400,000,000.00 for a car assembly plant in another country when Michigan or any other state in this country would gladly have supplied the labor for the plant.

      I realize that cash for clunkers was a boost for the economy, too bad for us it gave the US more debt and Japan got the boost from the cash infusion.

    18. duelles, Santa Fe, N says:

      Every so often I get the feeling that I'm living in some futuristic James Bond movie combined with the movie"Seven Days In May". If Obama creates a Czar for E_COM_CON I'm moving to Lybia and asking for asylum.

      Can the Elected officials of our nation be so stupid. Adding more debt to the greatest debt bubble in the history of the world can't fix this.

      The market will over take all messianic egos and Crash the Economy. Deflating our assets, including our debt. The Dollar will reign supreme once more. People with cash or countries with cash can buy at bargin basement prices in a year or two.

    19. Dick Wolbert, Santa says:

      It is difficult to gather true information from the government. They can say anything they wish to. Keep the truth out in the open with tea parties and protests( calm as usual) at Town Hall meetings. We cannot give up. We cannot give up our great Nation. We cannot give up the truth.

    20. Pingback: Friday Night Obama Not Good Economic News Dump « Eat It Or Wear It

    21. Pingback: Morning Conservative Reading List - October 17, 2009 - AIP Blog - American Issues Project

    22. Jake Strom says:

      It is crazy that people without insurance will sit for hours waiting for a doctor while a person who is covered can go right in and get treatment. This happened to my wife when she had a staph infection on her face. We went to the hospital and the first thing they want to know is if you have insurance. I, luckily, have excellent coverage and when the doctors knew they were going to get paid, my wife was immediately given a room and treatment. People waiting looked very angry and who could blame them. It is a broken system where profit is more important than the service provided. Health care is not available to everyone and it should be. Who would Jesus deny.

    23. Pingback: White House: 3.6 Million Jobs Lost is “Quite Positive” – osmoothie

    24. Jerry from Chicago says:

      Jake Stom — Jake would you be surprised that a restuarant would seat paying customers, before serving 'customers' who wanted a free meal? Would you be surprised that any retailer would take paying customers ahead of someone who wanted something for free?

      In a hospital ER, patients are triaged, with the most serious and life threatening situations being taken first, regardless of their insurance coverage. An accident victim without insurance who is severly injured or hemorrhaging will be immediately admitted to surgery and a room ahead

      others sitting in the ER, who may have insurance.

      Perhaps those people you saw there were angry because others without insurance were being treated ahead of those who did have insurance.

      You feel it is unfair that health care should be available to everyone and isn't. Well, there are lots of things that are "unfair". You ask, "who would Jesus deny?" I don't know. But I do know that Jesus once said, "render unto Caesar that which are Ceasar's, and unto God the things that are God's". When you walk into a doctor's office or hospital, it's time to render unto Caesar, if you can't afford to, it's time to say your prayers.

      A staff infection on the face doesn't sound like an emergency, but if your wife's doctor ordered the admission and you had insurance, you wouldn't go to the ER, you would go to the regular admissions desk. This is how it's done.

    25. Brett, Albany, NY says:

      Is there any real estate left in the stadium to which the goal posts can be moved?

    26. Pingback: Seven Months and 2.7 Million Lost Jobs Later... - Columns - American Issues Project

    27. Pingback: Sleight of brand | skewred.com

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