Thursday, October 29, 2009
I've always had a big problem with the Obama Administration's prattling about how many jobs it's "saved." I've read many an economics text in my life, and not one of 'em contained a formula with which anyone -- St. B. Hussein Obama included -- could calculate "saved jobs" in any given economic enviroment. Sounds like so much bullshit to this intrepid blogger ... and then some.
Speaking of bullshit ...
An early progress report on President Barack Obama's economic recovery plan overstates by thousands the number of jobs created or saved through the stimulus program, a mistake that White House officials promise will be corrected in future reports.
The government's first accounting of jobs tied to the $787 billion stimulus program claimed more than 30,000 positions paid for with recovery money. But that figure is overstated by least 5,000 jobs, according to an Associated Press review of a sample of stimulus contracts.
The AP review found some counts were more than 10 times as high as the actual number of jobs; some jobs credited to the stimulus program were counted two and sometimes more than four times; and other jobs were credited to stimulus spending when none was produced.
2012 can't come soon enough, if you ask me.