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Three Million Jobs: Really?
NRO ^ | 7/15/10 | Veronique de Rugy

Posted on 07/15/2010 7:11:35 PM PDT by Nachum

The White House can repeat these “jobs saved or created” numbers as often as it wants; it won’t make them true. Consider this Business Week report on a study released today by the Council Of Economic Advisers:

The report says the stimulus has “saved or created” about 3 million jobs, and is moving toward a goal of 3.5 million jobs by the end of the year, according to an administration official speaking on condition of anonymity before the report’s release today.

As it turns out, when you unpack the numbers, you find that Romer and her team didn’t actually count how many people got a job thanks to the stimulus. Instead, the number is a projection that relies on the myth that a dollar of government spending creates up to 2.5 dollars of economic growth.

(Excerpt) Read more at corner.nationalreview.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: jobs; million; reality; really; three; unemployed
More fake-a-zoid numerology from team Obamsky
1 posted on 07/15/2010 7:11:37 PM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping


2 posted on 07/15/2010 7:13:05 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

I still do not see any tangible increase in government services despite the trillion dollar outlay of cash. The money seemingly evaporated into the ether.


3 posted on 07/15/2010 7:16:28 PM PDT by purplelobster
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To: Nachum

“We’ve got so many new jobs, we’ve got to import illegal aliens from Mexico.”


4 posted on 07/15/2010 7:18:42 PM PDT by Brilliant
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To: Nachum

I wuz disappointed to find that the unemployment numbers are made up from surveys. There is nothing I can do to get counted as unemployed.


5 posted on 07/15/2010 7:20:29 PM PDT by Paladin2
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To: Brilliant

President Obama said today he finds it hard to sleep knowing so many are unemployed in the nation. Though it doesn’t seem to have affected his golf game


6 posted on 07/15/2010 7:21:37 PM PDT by chuckee
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To: purplelobster

We got lots of “This is one of Obamaglory’s Wonderful Stim-U-Projects” signs.


7 posted on 07/15/2010 7:25:19 PM PDT by Psycho_Bunny (Hail To The Fail-In-Chief)
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To: Nachum; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; rabscuttle385; mkjessup; ...
RE :”As it turns out, when you unpack the numbers, you find that Romer and her team didn’t actually count how many people got a job thanks to the stimulus. Instead, the number is a projection that relies on the myth that a dollar of government spending creates up to 2.5 dollars of economic growth. That’s strange. Robert Barro of Harvard University has estimated that, even in the best-case senario, $1 of government spending will generate between $0.40 and $0.70 of economic growth, i.e., much less than the amount of growth that we would get if that dollar was invested privately. What’s more, if that dollar has previously been taxed out the economy, then the overall effect of $1 of government spending is a destruction of $1.10 of economic growth.

The magic 2.5 factor. Just remember. If you spend money you can't afford using your credit card you create $2.5 of economic growth which should pay the CC bill when it comes due. Wait, isnt that how we got into this credit bubble-contraction mess to begin with?

So with all this economic growth we shouldnt need the debt commission Obama hired to raise our taxes, Right?

8 posted on 07/15/2010 7:25:52 PM PDT by sickoflibs ( "It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: Nachum

Those who’ve lost their jobs since The Joker took office will find this number a little hard to believe...


9 posted on 07/15/2010 7:28:06 PM PDT by Redbob (W.W.J.B.D.: "What Would Jack Bauer Do?")
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To: Nachum

There is more science in ****ing chicken entrails.

LLS


10 posted on 07/15/2010 7:29:57 PM PDT by LibLieSlayer ( WOLVERINES!)
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To: Nachum

It’s one of those feel-good numbers that is impossible to prove and impossible to disprove.


11 posted on 07/15/2010 7:30:45 PM PDT by Non-Sequitur
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To: Redbob

Stupid and irresponsible... Just another act by the Democrats to try to salvage the situation. Geez, the bad part is that most of America will be oblivious to the problem with our politics and their corrupt others.. Just when will politics become a major part - ie. actually believe what they say (good luck with that)...

Neither party shows us that! The trouble is that we have become a two party system and both parities are corrupt! Can we say “we give up”... or can we say, let’s elect a different person... Not really sure that either will work!

Yes... both parties are Corrupt to the core... We have little chance of changing thing at this rate. The only thing that we can do is elect the opposite of the party in charge - great choice!

If this does not change for the better, we will have to resort to more active means...


12 posted on 07/15/2010 7:38:12 PM PDT by Deagle
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To: Nachum

The red star, fittingly enough, is Obama's "stimulus".

The cahrt shows civilians employed in millions.


13 posted on 07/15/2010 7:42:38 PM PDT by jwalsh07
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To: leapfrog0202
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14 posted on 07/15/2010 7:46:22 PM PDT by leapfrog0202 ("the American presidency is not supposed to be a journey of personal discover" Sarah Palin)
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To: sickoflibs
" What’s more, if that dollar has previously been taxed out the economy..."

IF???

IF that dollar has previously been taxed out (of) the economy?

WTF else does he think a dollar of "government" money comes from???

15 posted on 07/15/2010 7:48:31 PM PDT by Redbob (W.W.J.B.D.: "What Would Jack Bauer Do?")
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To: Nachum

Is it true that when a temporary agency signs on a worker (and he or she fills out a tax form) that the “employment” is listed as a real job? I know a guy who is out of work and he signed onto three different temp agencies. He never once, in two months, has been able to obtain even a day of work with any of the agencies. He said that when he went in to sign up there were lots of people also signing up.

If temp agency sign ups are counted then there are thousands of “jobs” being counted out there that do not exist.


16 posted on 07/15/2010 8:01:27 PM PDT by SorosOwnsObama
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To: Nachum

I retired from a top 20 company. They have scads of money on-hand that they could invest in new-business building in the U.S. but choose to just hold onto.

OTOH, they have assets on the ground in about 80 other countries. Net, money that could be sunk into capital projects in the U.S. (and the associated jobs) probably will be spent elsewhere and the jobs created elsewhere.

And no, the products are not sent to the U.S. to stiff U.S. labor; they will be purchased by consumers in those other countries.


17 posted on 07/15/2010 8:54:17 PM PDT by Rembrandt (.. AND the donkey you rode in on.)
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To: purplelobster

” The money seemingly evaporated into the ether.”

My bet is that this money which evaporated will mysteriously re-appear in the run-up to the 2012 election. Call it CREEP - the Con to Re-Elect the Creep, uh, President I mean.


18 posted on 07/15/2010 8:58:37 PM PDT by Rembrandt (.. AND the donkey you rode in on.)
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To: Nachum
2.5 to 3 million jobs lost since the passge of Stimulus.....idiot-ridden White House claims they have saved or created -- however that mysterious BS is explained and then obtained -- 3 to 3.5 million jobs.......do the math; numerous people are BS to the American people...........and getting away with it. =.=
19 posted on 07/15/2010 9:50:05 PM PDT by cranked
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To: Psycho_Bunny
We got lots of “This is one of Obamaglory’s Wonderful Stim-U-Projects” signs. And you are to chant, 'Hmmmm, hmmmmm, hmmmmm, Barack Hussein Obama' every time you drive by. Once a year, on the day he 'officially' celebrates his birthday, you may leave suitable offerings at the sign and make a little Obama shrine./s
20 posted on 07/16/2010 3:28:38 AM PDT by FreeStateYank (I want my country and constitution back, now!)
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To: FreeStateYank
you may leave suitable offerings at the sign and make a little Obama shrine

I think it's probably illegal to leave large quantities of crap in public. We could probably get the dog to take a leak on it, though: "Fido salutes thee!"
21 posted on 07/16/2010 3:38:31 AM PDT by aruanan
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To: sickoflibs

The IMF reports the same results as Barro on ‘stimulus’.


22 posted on 07/16/2010 5:25:49 AM PDT by griswold3 ('Regulation and law without enforcement is no law at all)
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To: aruanan

LMAO. In the best legislative speak, I failed to identify what may be, but is not limited to, things which are ‘suitable offerings’.

Excrement would definitely qualify as a suitable offering, regardless of illegal dumping restrictions. But if you or your dog craps by a sign and no one is there to hear it fall, does it exist?


23 posted on 07/16/2010 6:16:29 AM PDT by FreeStateYank (I want my country and constitution back, now!)
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To: Non-Sequitur
It’s one of those feel-good numbers that is impossible to prove and impossible to disprove.

Or to prove.

It is no "accident" that the documented statement ..if we pass blah blah blah, 3.5 million jobs will be created...", clear, unqualified and unequivocal, repeated ad nauseam in 2009, is in the record for all to see.

"Created or saved" is a fraud, the result of panic and the rhetorical admission that the Obama administration hasn't a clue.

Jobs created is documentable and fact.
Jobs saved is speculation and opinion.

The present regime continues to count on, and exploit, the short attention span and the abysmal ignorance of their "base," and generally the ignorance of the American citizen (voter).

We don't want pompous rhetoric and simply words. Of leadership, results is the ultimate and only measure of competence.

24 posted on 07/16/2010 9:49:10 AM PDT by Publius6961 ("We don't want to hear words; we want action and results.")
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To: jwalsh07
I notice that it took A YEAR for civilian job losses to stop.
How's that for competence and leadership?

The world's most powerful and desireable country is no place for leadership to learn on the job...

Just saying.

25 posted on 07/16/2010 9:56:19 AM PDT by Publius6961 ("We don't want to hear words; we want action and results.")
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To: Nachum

It’s Obamanomics: in which unquantifiable data is used to support unprovable assertions in the service of unrelated objectives. It’s closely related to Obama Alchemy, which is a form of transformative magic in which you take other people’s gold and turn it into sh!t.


26 posted on 07/16/2010 10:00:48 AM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: SorosOwnsObama; All
Is it true that when a temporary agency signs on a worker (and he or she fills out a tax form) that the “employment” is listed as a real job? I know a guy who is out of work and he signed onto three different temp agencies. He never once, in two months, has been able to obtain even a day of work with any of the agencies.
He said that when he went in to sign up there were lots of people also signing up.
If temp agency sign ups are counted then there are thousands of “jobs” being counted out there that do not exist.

First of all, I want to emphasize that jobs have not been counted. The numbers are simply panicky guesses pulled out of thin air.
This is a good time to ask.

FR is a microcosm of our country. At least in terms of employed non-government taxpayers who contribute positively to the economy and the expenses of government, all by themselves.
I can't turn my brain off and accept the absurd notion that government employees create wealth, which is the only possible way to expand total national wealth, the cure for the discredited mercantilism of the 18th Century.

Is there a thread where Freepers can contribute to the real state of our economy by listing jobs losses (or gains) on a personal level?

I would like to contribute to that thread, if it exists. If it does not, perhaps start one.

Real world facts vs the current administration's alternate reality.

27 posted on 07/16/2010 10:17:27 AM PDT by Publius6961 ("We don't want to hear words; we want action and results.")
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