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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (64350)5/4/2009 3:57:26 PM
From: JakeStraw3 Recommendations   of 224748
 
OBAMA: "We began by passing a Recovery Act that has already saved or created over 150,000 jobs." -- from news conference.

THE FACTS: This assertion is dubious on several levels. For starters, the U.S. has lost more than 1.2 million jobs since Obama took office, according to the Bureau of Labor Statistics. Even if Obama's stimulus bill saved or created as many jobs as he says, that number is dwarfed by the number of recent job losses.

But Obama's number is murky, at best. The White House has not yet announced how it intends to count jobs created by the stimulus bill. Obama's number is based on a job-counting formula that his economists have developed but have not made public. Until that formula is announced --probably in the coming week or so -- there's no way to assess its accuracy.

Whatever the formula, economists who study job creation say it will require some creative math. That's because Obama has lumped "jobs saved" in with "jobs created." Even economists for organizations that stand to benefit from the stimulus concede it probably is impossible to estimate saved jobs because that would require calculating a hypothetical: how many people would have lost their jobs without the stimulus.
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