As Obama Distorts Truth 1.8 Million More Jobless Since He Took Office

"Saved or created" has become the signature phrase for socialist Barack Hussein Obama as he describes what his stimulus is doing for American jobs. His latest invocation came yesterday, when Obama declared that the stimulus had already saved or created at least 150,000 American jobs.

Mr. Tony Fratto was a senior member of the Bush Administrations’ communications and sees a double standard at play. "We would never have used a formula like 'save or create,'" he syas. "To begin with, the number is pure fiction -- the administration has no way to measure how many jobs are actually being 'saved.' And if we had tried to use something this flimsy, the press would never have let us get away with it."
No one in the socialist Obama’s administration or any other administration ever attempted to measure jobs saved.   The Labor Department, nor the Treasury, nor the Bureau of Labor Statistics -- actually measures "jobs saved."

"The expression 'create or save,' which has been used regularly by the President and his economic team, is an act of political genius," writes Mr. Greg Mankiw Harvard economist and former Bush economic adviser. "You can measure how many jobs are created between two points in time. But there is no way to measure how many jobs are saved. Even if things get much, much worse, the President can say that there would have been 4 million fewer jobs without the stimulus." However dubious it may be as an economic measure, as a political formula "save or create" allows the president to invoke numbers that convey an illusion of precision.

Jared Bernstein socialist Obama’s economic adviser explains the 150,000 jobs saved / created this way.  “We know how fast the plan is spending out, we know which sectors, and actually if you go back to the Romer-Bernstein report, you'll see that we actually have estimates by sector, by industry, but also by energy, construction, infrastructure, tax cuts .“

Bernstein was then asked,  “One hundred fifty thousand are just based on these estimates so far or what you guys projected out of how this money would be spent?”

Then Bernstein responded, “Correct.  The 150,000 jobs, it comes precisely under the methodology I was just describing, that is we have -- we -- we know -- we know spend out, we know the types of spend out, we can assign multipliers to different parts of the plan.  For example, tax cuts generate a smaller multiplier than direct government spending.  Once you know the spend out and the type of spending that you're engaged in, then you can derive an estimate of how many jobs you believe you created relative to what would have occurred in the job market were you not doing that spending.”

America there has been no 150,000 jobs saved or created.  Socialist Obama is just using a figure they dreamed up.  The real truth is that since socialist Obama took office 1.8 million Americans have lost their jobs.  Unemployment is at 9.4% and rising.  Obama and his “economists” had predicted that unemployment might get as high as 8%.  Unemployment has already passed their total and is still growing.

The socialist mainstream media praises socialist Obama for 150,000 imaginary saves /created jobs instead of questioning the growing unemployment rate.  The unemployment rate will soon hit 10% or more.  Will the socialist mainstream media ask then?

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