In reality, the White House is probably better off fighting over those numbers than over the unemployment statistics staring the President in the face.
The High Price of Obama’s Fake Jobs Scheme
By Heritage Foundation Mike Brownfield——Bio and Archives--July 6, 2011
Sometimes magic tricks just aren’t that great, and even the most innocent, wide-eyed child can’t be fooled by the illusionist’s flourish. Such is the case with the rabbit the White House is trying to pull out of its magic hat by claiming that President Barack Obama’s stimulus has created or saved 2.4 million jobs at a cost of $666 billion, all while the United States continues to suffer 9.1 percent unemployment. If you do the math, that comes out to around $278,000 per job.
That information comes from a White House Council of Economic Advisers (CEA) report released last Friday that desperately tries to maintain the illusion that Obama’s stimulus has saved the day for struggling Americans.
If you take the CEA at its word, you might be a bit confused. Two quarters ago, it claimed that the stimulus added or saved just under 2.7 million jobs. That’s 288,000 more jobs than it claims the stimulus has created or saved today. (The Congressional Budget Office has downgraded its claim of the stimulus’ “success,” too.) Compare that to the President’s promise to create 3.5 million jobs by 2010—the economy, instead, lost millions of jobs, leaving Obama 7.3 million jobs short of his goal.
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