"If you have the statistics to back this up, let's see them."
Cheney, following the same script, said in Kansas City: "Some in Washington said these tax cuts would not work." But with 4.6 million new jobs since May 2003, he said, "it's getting pretty hard for the critics to make the case that somehow these tax cuts weren't good for the economy."
latimes.com
Ok, that sounds good. But
In contrast, between March 2001 and March 2003,2 the economy entered a contraction period, losing approximately 3.5 million jobs,
bls.gov
So that means we had about 1.1 million net new jobs between March 2001 and November 2005. That works out to be about 20,000 new jobs a month, on the average. Now
Had payroll jobs kept up with working-age population growth since March 2001, the economy would be adding 137,000 new jobs each month.
epinet.org
Now that figure of 137,000 might be over-stated. But there is almost a factor of 10 difference between the two numbers.
Let us look at it a different way. We are pouring over $1 billion dollars a day into the economy, over and above tax receipts. At that rate, we could pay $155,000 a year for 300k new jobs each and every month.
Edit: oops. I mis-calculated. That would only be 200k new jobs, each and every month. |
