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  • Half of Stimulus Jobs Saved in Education?

    Yesterday the Washington Post reported:

    Federal economic recovery aid has created or saved 250,000 education jobs, the Obama administration announced Monday, although states and school systems continue to face enormous fiscal pressures.

    But earlier this year Vice President Joe Biden told the Brookings Institution:

    Two hundred days ago, President Obama signed into law the third piece of our economic plan: the American Recovery and Reinvestment Act. And today there’s a growing consensus: The Recovery Act is, in fact, working. Don’t just take my word for it. Analysts from Moody’s to IHS Global Insight, to the Economic Policy Institute and others all estimate the Recovery Act has created or saved between 500,000 to 750,000 jobs.

    So the Obama administration’s $787 stimulus has created 500,000 jobs so far, and half of them half been in the education sector? Education is such a small sector of the overall economy that the Bureau of Labor and Statistics lumps it in with health services. Even then, according to the most recent employment report, the combined education/health services sector makes up only 15% of our economy. According to ProPublica, the federal government has spent $288 billion so far with $67 billion of that going to education. So 23% if the spending has caused 50% of the job saving/creation?

    The Post goes on to report:

    By “jobs saved,” the report means potential reductions in force that had been averted through restoration of funds. The report emphasizes that figures are preliminary.

    So really these are just “estimates” and “preliminary” ones at that. The reality is that the Obama administration’s stimulus job numbers can not be trusted. When the White House was pitching its plan to the American people, it produced 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. The White House does not have a credible track record in estimating jobs created or saved.

    The only objective way to hold the Obama administration accountable for their $787 billion stimulus is to compare their jobs promises with actual jobs numbers. When the Obama administration first unveiled their 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. Putting these numbers together, we can create an objective standard to judge both the President and his stimulus by: 136.1 million plus 2.5 million equals 138.6 million; and 134.6 million plus 4 million equals 138.6 million. So the objective, Obama administration created, BLS data verifiable, jobs accountability number is 138.6 million. The most recent BLS report shows that President Obama is 7.6 million jobs short of his promise to the American people.

    Posted in Economics [slideshow_deploy]

    4 Responses to Half of Stimulus Jobs Saved in Education?

    1. Arthur, New Jersey says:

      250,000 education jobs saved, is totally bogus.

      Assuming that 250,000 education jobs were in jeopardy, most states/municipalities would incur any amount of debt to save these jobs. Therefore, these 250,000 education jobs were never at risk. Here in the Socialist Republic of New Jersey, our state is bankrupt because of our expenditures on what is passed off as "education".

    2. Pingback: Obama covers his Communist Heart with a Smiley Face; Lesson Learned from Fidel Castro « VotingFemale Speaks!

    3. Bobbie Jay says:

      The last place money should be going is to stimulate government jobs. Another crook. They speak of achievement gap which means limited thinking, limited knowledge. Which means, appeasing those who don't meet government goals, and holding back the rest, especially those who have the ability to go beyond. And then they have the racist gall to say, "achievement gap," "between black's and white's?" THAT'S APPALLING! Achievement GAP shouldn't be considered in the first place. Children should be able to think free without bias influence. Achievement is up to the child. Motivation is up to those that give influence towards and are involved educationally.

      The "achievement gap" is pure socialism. Our children have more the brain then is being allowed to develop with public education. And is this indication Asians and Mexicans get better education? Or they know something the other kids don't? Children shouldn't be compared grade averages by race. This could build resentment, wrong regardless and is evidently intentional…

    4. Bobbie Jay says:

      Gosh, I'm so sorry. I meant, "closing the achievement gap." School boards want to "close" the achievement gap between blacks and whites. Another admitted government failure and racist view.

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