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The Stimulus Saved or Created 150,000 Jobs? Where? (Jake Tapper)
ABC News ^ | 5-2-09 | Jake Tapper

Posted on 05/02/2009 9:52:44 AM PDT by STARWISE

"We began by passing a Recovery Act that has already saved or created over 150,000 jobs and provided a tax cut to 95% of all working families," the president said Wednesday night.

We wondered where the president got that from, given that the Bureau of Labor Statistics estimates that more than 1.3 million jobs were lost in February and March, with dismal April numbers to come.

We were told by a White House official that the Council of Economic Advisers estimated the effect of the stimulus bill on employment in two ways:

One was to prorate the original quarterly estimates by the CEA of the effect of the stimulus bill at the time of passage 'in a conservative way."

The second way was to use the data available on actual spending to replace the assumed spend-out rate. CEA then applied the same estimates of the likely impact of spending on output and employment used in the original calculations.

Both methods yielded similar results: 150,000 jobs.

This was not good enough for our friends at Factcheck.org, who say "the president’s claim is really an estimate of what his economic advisers think the stimulus bill is doing, and not based on any evidence of its actual effects."


TOPICS: Business/Economy; Government; Politics
KEYWORDS: abc; jaketapper; obamatruthfile; porkulus; shamwow; stimulus
Factcheck spin:

"It turns out the president’s claim is really an estimate of what his economic advisers think the stimulus bill is doing, and

not based on any evidence of its actual effects.

We asked the White House for substantiation of Obama’s claim, and a spokesman responded that the figure comes from a recent estimate by the Council of Economic Advisers. “Because the baseline for employment is obviously still strongly downward,” the spokesman told us, “the estimate does not mean that employment has risen by 150,000.

Rather, it means that employment is 150,000 higher than it otherwise would have been.” He said the figure is an estimate of people hired to work directly on ARRA-funded projects, plus “jobs created by the tax cuts, aid to the states, and other parts of the ARRA.”"

~~~

Nice worship and CYA he gets everywhere, huh ?

1 posted on 05/02/2009 9:52:44 AM PDT by STARWISE
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To: STARWISE

Yeh, where?????


2 posted on 05/02/2009 9:53:09 AM PDT by JaneNC (I)
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To: JaneNC

De plane, boss. De plane!


3 posted on 05/02/2009 9:53:42 AM PDT by Ev Reeman
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To: STARWISE

Even if this number was true, compared to the jobs that have been lost, it is laughable that Obama would try to brag about it.


4 posted on 05/02/2009 9:55:08 AM PDT by ShandaLear (I LOVE RUSH!)
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To: ShandaLear

maybe they mean the stimulus created 150,000 jobs to handle paperwork for new unemployment claims.


5 posted on 05/02/2009 9:58:21 AM PDT by inpajamas ("Progressive" liberalism is merely fascism without balls - http://skarbutts.wordpress.com/)
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To: STARWISE

maybe saved but how many thousands of dollars did each saved job cost in the billions/trillions that was blindly thrown out in the bail out scam?

Let’s just use 1.5 trillion as a figure. That means, if my calculation is correct, each saved job cost 100,000 dollars to save.


6 posted on 05/02/2009 10:04:10 AM PDT by MAD-AS-HELL (Hope and Change. Rhetoric embraced by the Insane - Obama, The Chump in Charge)
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To: inpajamas

And/or they’re projecting the new jobs
for new state infrastructure jobs on
roads, bridges, etc. He’s too cute by
half.


7 posted on 05/02/2009 10:04:11 AM PDT by STARWISE (They (LIBS-STILL) think of this WOT as Bush's war, not America's war- Richard Miniter)
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To: STARWISE

Doesn’t mention the jobs that were LOST due to higher taxes.


8 posted on 05/02/2009 10:08:48 AM PDT by I'm ALL Right! (I love the Bill of Rights. Is that extremist?)
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To: STARWISE

Probably gov’t jobs only. They don’t have to produce anything of value or make a profit. As someone that works in private industry on gov’t contracts, I produce a deliverable product and my time is charged directly to the contract. Those that are considered indirect and never seem concerned about performing to budget I call NON-VALUE ADDED TRASH.


9 posted on 05/02/2009 10:09:23 AM PDT by Always Independent
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To: STARWISE

Dumbass-in-chief.


10 posted on 05/02/2009 10:09:36 AM PDT by Ev Reeman
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To: STARWISE
and provided a tax cut to 95% of all working families

Isn't the "tax cut" temporary? A feel-good measure that creates the illusion of a tax cut to give cover while Congress revs up to spend even more money next year.

11 posted on 05/02/2009 10:12:25 AM PDT by freespirited (Is this a nation of laws or a nation of Democrats? -- Charles Krauthammer)
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To: STARWISE
The lies by the socialist Obama administration are just incredible. This lie about saving jobs is insane. There is not a single economic tool under the sun that can measure saving jobs.
12 posted on 05/02/2009 10:14:43 AM PDT by jveritas (God Bless our brave troops)
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To: JaneNC
Yeh, where?????

ACORN hired them.

13 posted on 05/02/2009 10:14:54 AM PDT by N. Theknow (Kennedys: Can't fly, can't ski, can't drive, can't skipper a boat, but they know what's best.)
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To: freespirited
It is a one time only totally insignificant and meaningless tax credit of $ 400 ($ 8 a week) for people making $ 75,000 or less that will end by December 2010.

Once the Bush tax cuts expire by December 31 2010 then all the tax payers will be paying much higher in taxes. The socialists will not extend the Bush tax cuts except may be for the lowest tax bracket. In fact I fully expect that by 2011 the top two tax brackets will not just go back at the high levels they were before the Bush tax cuts but at the high levels they were before the Reagan tax cuts i.e. insanely high levels which will lead to the destruction of the economy. All this does not include the global warming tax increase (so called cap and trade tax) where all of us will paying hundreds if not thousands of dollars more in utility bills.

14 posted on 05/02/2009 10:21:06 AM PDT by jveritas (God Bless our brave troops)
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To: STARWISE
There really is no tax cut, just an adjustment of the tax withholding table. You will make up that “extra” money in your paycheck next year when you pay taxes. Even Yahoo reported this flim flam last week.
15 posted on 05/02/2009 10:35:55 AM PDT by Huskrrrr
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To: STARWISE

He created 150,000 jobs while liosing 3,000,000. At this rate when he creates all of the jobs he promised we will all be out of work....must be the new maff.


16 posted on 05/02/2009 10:44:45 AM PDT by Natural Law
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To: Natural Law

Yes, it’s the new maff. That’s the maff our spessy ed president uses.


17 posted on 05/02/2009 10:53:24 AM PDT by abclily
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To: STARWISE

Jake Tapper seems to be the only one of the “White House Press Corps” who hasn’t swallowed the cool-aid.


18 posted on 05/02/2009 11:04:45 AM PDT by Malesherbes (Sauve Qui Peut)
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To: STARWISE

Creating jobs? Funny when my husband works for the federal government, interviewed people for 3 jobs, sent his choices to HR and was told that there is an ‘unofficial’ hiring freeze.


19 posted on 05/02/2009 12:00:41 PM PDT by imskylark
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To: Malesherbes

Tap-Tap, as Dennis Miller calls him, is the ONLY non-bathtub water drinker in the bunch! Major Garrett drinks Obama’s bathwater by the tubful just like all the rest of the Presstitudes.


20 posted on 05/02/2009 1:41:03 PM PDT by Ann Archy (Abortion....the Human Sacrifice to the god of Convenience.)
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To: inpajamas

I know two people who were just hired by the unemployment office in Illinois and told me they are part of a class of 16. They are going to be handling phone calls to help people figure out their benefits, filing etc.


21 posted on 05/02/2009 1:43:47 PM PDT by cubsfanconswoman (OH MY GOD THE BEARS HAVE A QB!)
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