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The White House Claims One Million Jobs Saved/Created- According to Their Model, Of Course
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?
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making signs for projects that should be a part of routine mainetence budgets, not special expenditures:
http://www.fox8.com/news/wjw-stimulus-signs-txt,0,7422868.story
$787 B divided by 1 million jobs=$787 thousand per job
Money well spent....
Okay lets be fair, lets say through the life of the stimulus plan 2.5 million jobs will be created. Then it's only $314,800 per job.
Let's be even fairer. Creating 3.5 million jobs is $ 224,857 per job. Then creating a billion jobs is......
I'd like to be the Soprano gettin' the vig on that deal cuz that's gotta be 3-4x what's in dude's paypack.
Exactly what I said in another thread. This is a terrible way to spend money if the goal is merely keeping people from being unemployed (which it isn't).
Probably huge surges in credit counseling and suicide prevention staff nationwide as well.
Off topic--Harvard still the top loser with Yale only down 30% in the last year.
for the quality of students Harvard puts out; they should've gone bankrupt years ago. Overrated university with even more overrated graduates. Maybe 10% of Harvard graduates would get their diplomas if they were enrolled in one of the top EU universities; i.e Gottingen or Heidelberg. It is a well known fact that people go to Harvard to make connections, not to actually gain some respectable education. Harvard has become a meme. Nothing else. And im glad they are down 30%, should be more if you ask me.
Hey Cheeky... My brother did a post doc there. Got a huge research grant and moved it to another gig. Ha ha ha ha harvard...
sorry ZerOhead. I should've make my statement more clear. I primarily addressed their MBA and Economics departments. The rest is good; they have a good math department; or they used to; i'm not sure if Barry Mazur still runs the show there. The rest is mediocre at best. For me; Princeton is number 1, has been, is, and will always be.
So you approve of the former head of the Princeton economics department? C'mon.
Harvard or Princeton ? I was thinking in therms of the quality of courses and pedagogic approach of Princeton vs. the same thing at Harvard. I don't have any idea who either Princeton's or Harvard's former head of econ-dep is. enlighten me.
I think his name is....uh, give me a moment, oh yeah. Ben Bernanke.
LOL. Fuck it; i'm not omniscient; thanks for reminding me. But to be fair; he's an excellent academic ( IMHO ) but an utter FAIL when it comes to get shit done in a orderly manner. Or get shit done for that matter. Knowledge without execution is like a gun with no bullets. It can only get you so far when shit hits the fan and you need to stard shooting at something/ someone. http://bewilderedsociety.com/blog/wp-content/uploads/2008/09/20080923__82875236aw011_senate_holds_failp1.jpg
I love you CB...just having some fun!
Standford University is the biggest of the sewers.
You sound like a Cal man.
They should be bankrupt by now if you ask me. Why doesn't someone just put them out of their misery? Perhaps the US Dollar going up in flames will accomplish that task.
hey man; they have Larry " i sleep in the most awkward places " Summers there. And that means there's a bailout waiting somewhere if SHTF. And like 80% of fortune 500 execs are Harvard MBA's.
Hey he did great work in Lithuania and Russia didn't he? Drove the stake right through the heart of the beast...
Hey where's that turd sandwich working these days?
YES! You want to find genuinely bright students, look at U of Chicago; mostly bright students also making connections, look at Yale, Dartmouth, and Brown. I have yet to be impressed by any Harvard grad I've met - except by the size of their egos.
And how much the 2 managers of their funds make last year?
Meanwhile the Yale formula of entrusting the fund to over a hundred talented managers and stick with them long term is actually winning
Just like they'll 'save' money on public health care.
The one million must be the sum of all the birth/death model jobs that were created.
I guess we need to go to the graveyard to find these jobholders among the silent majority.
I was going to post this. Imagine what the real number is w/o the BS from the BLS.
Hey these were green jobs. By moving to the graveyard, these green jobholders saved millions in carbon credits.
And they are pushing up green grass above them.
more like Soylent Green. Beware new wonderfoods on the market. Soylent Green is People!
Filet O'Fish here we come!!!!
Ah! So *THAT'S* where the green shoots are coming from!
It's too painful being short.
Yeah, I believe the whitehouse did create a few jobs down here in the scenic route. God damn it. Every few hundred foot, there is either a sign of " do not pass" Or "pass with care". I wonder what the double yellow line on the road means..... That stupid whitehouse stimulus package. Now I guess there will be a few more jobs created by removing the annoying and stupidity sign of do not pass and pass with care after enough complaints are lodged.
ROTFLMFAO.
As long as 3.5 million people are employed at the conclusion of 2010, it's a true statement. Of course that means the unemployment rate will reach historic levels.
http://blogs.wsj.com/economics/2009/09/10/sf-fed-economist-suggests-2-in...
Fed laying foundation for high inflation rates to come. aka do not expect them to a) raise rates, b) prevent future bubbles, or c) preserve standard of living and d) blow up the dollar (poor people who remain in dollars going forward).
Travis:
I've been hating on your avatar cuz it looks like someone whacked the top of your head with a machete, so I Gimped you a new dome. I'll attach to an email and send to tips@zerohedge.com in case you want to use it.
Do Japanese auto jobs count? Cash for Clunkers certainly saved a few jobs there.
i plan to submit my application to the Treasury for 2 trillion $ line of credit with minus 25% rate; with nothing but a promise that i will either save/ or create 2 million jobs. I think that would suffice for me to get the funding. And also i plan to re-locate the funds i receive to the development of i-phone applications and Internet start-ups which do nothing except spam peoples e-mails every 2 minutes with notifications how their friends send them a goat via " Send you a goat " application and how the got a " Fuck you Hank Paulson " fan page reuest.
$1 million per job saved or created seems to be a fair rate of return however if you can save 3 million jobs i will give $4 trillion those are the returns i can live with.
there is no metric for determining how many jobs were saved so they can claim any number they want.
just so you all know...i saved 2 million jobs and you can't prove otherwise. naner naner :))
im gonna call Michelle Caruso Cabrera Conchita Alonzo Herrera Fernando Gonzalez and tell her the good news of how many jobs i saved.
i feel an interview with Dennis Kneale coming on.
-Homer Simpson
This is a true joke. A Russian colonel was reporting to his general how much gasoline, ammo, etc, his unit had saved. "So where did you store all that stuff?" asks the general. "Oh, that wasn't a problem" replies the colonel, "we never got it in the first place".
Yummy White House chatter so much better than cable chatter.
What they failed to mention 1/3 of the jobs were printing press operator, 1/3 were ink manufacturing jobs and the final 1/3 was paper manufactures.
+10
John Mack announces retirement and the way Bloomberg is talking its the financial equiv of Teddy Kennedy going to meet his maker - (that is the revisionist version of TK)
An angry populace too preoccupied with the daily struggle that is life in the USSA was unable to directly respond to this BS pronouncement. So they sent...the monkey
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He Lies!!! lol
The only thing getting better are the markets...period.
Everything else is in the toilet or making it's way into the rim.
the FASB must be allowing them to use Mark to Model. Not losing an extra 1.0-million jobs is the same as creating 3-million jobs.
Good Grief.
This just in, flash update:
Michelle just checked BO's math and he got it wrong, 'course, it turns out he saved 1 TRILLION jobs!
WHOCUDANOODIT??
even if the $787 billion dollar stimulous saves its 3 million jobs as advertized that means all those workers make an average of $262,333
if it only prevents 1 million jobs, well that math is much easier, its $787,000 a job. or the equivalent of an average goldman sachs employee.
Say that reminds me, the government has hired a whole shitload of people to 'temporary' positions, set to expire in a year. These jobs counted in the million figure perhaps? Who am I kidding, of course they are
Couldn't they just tack on another Zero? It would look better.
Stimulus money is money well spent. Because a paycheck is better than an entitlement. Bank and financial bailouts is the real crime here.
Guys just wait, Obama has another trick up his sleeve.
In November, he shall create 10 more jobs by building a basketball court in the White House lawn
I know all administrations lie. All Presidents lie. All Governments lie.
But this administration has taken it to a new low. How they get away with lying like this amonth 100 other things is totally beyond me. It is just basic mathematics and they LIE about it?
It makes me sad for this once great country.
I can provide you over 1 million jobs per year over the next three years!
SIMPLY STOP ALL LEGAL IMMIGRATION FOR THREE YEARS!
THERE ARE NO JOBS FOR THEM!
I can provide you over 1 million jobs per year over the next three years!
SIMPLY STOP ALL LEGAL IMMIGRATION FOR THREE YEARS!
THERE ARE NO JOBS FOR THEM!
My fellow Americans,
It is very obvious that a great majority of posters are extremely agitated and angry over the rising unemployment numbers (which I would like to emphasized, was 'inherited' from the previous Administration).
As of this moment, I have directed my Czar for Unemployment (thats another new job I have created) to cease and desist from collecting and collating any data on unemployment.
Henceforth, there is NO unemployment in the United States of America.
Any further comments on matters or topics concerning "unemployment" shall be deemed to be 'unpatriotic'.
With immediate effect, the Czar of Homeland Security is hereby directed to liaise with the Federal Reserve and allocate whatever funds necessary to send 'non-working' Americans on extended foreign vacations while awaiting their new job opening (which I shall be creating).
Now shut up, you Fuckers and stop criticising me.
Thank you and good night.
The POTUS
Well done, Travis.
"MARK IT ZERO, DUDE"