The White House Claims One Million Jobs Saved/Created- According to Their Model, Of Course

Travis's picture

While no one really knows what kind of jobs were created or saved, what kind of work is entailed or for how long- the White House claims seem to be of one economic model.  Their model, of course.

According to an article written by the Associated Press, White House economists reported thursday that the Obama Administration's recovery efforts have, so far, saved or created more than one million jobs.

Obama has promised that his $787 Billion stimulus package would create or save 3.5 million jobs by the end of next year; and, of course, this figure is right on mark to be achieved. (Saving a million or so every eight months should do the trick?)  Given the stunning turn-around with unemployment hovering closer and closer to 10% every quarter. 

"In its first report to Congress on the stimulus, the White House Council on Economic Advisers said Thursday that the economy would have been far worse without the stimulus..."  Notes Matt Apuzzo of the Associated Press.

Washington's report is sure to draw criticism because the U.S. economy has actually lost some 2.5 million jobs since the stimulus plan was signed in February.  "Because the White House number is based on economic models, it's impossible to say for certain what that number would have been without the stimulus." But it sounds better to note- "we created a million jobs" nevermind "net/net, we're down 1.5 million jobs."

The report is quick to note that, while job losses continue, the rate has slowed considerably from over 700,000 a month in early 2009 to 216,000 job losses just last month.

"These job losses are obviously unacceptable," the White House report says. "But the change does suggest that we are on the right trajectory."

But of course they are.  We're not paying for failure here, now are we?