America has lost 1.6 million jobs since Barack Obama took the oath of office. Yet, the president insisted earlier this week that he has "saved or created" 150,000 jobs and plans to "save or create" 600,000 more jobs by the end of the summer. Leaving aside the arrogance that compels all administrations to assume omnipotence and take credit for jobs created on their watch, there is a hubris unique to the Obama administration that touts an unverifiable (non) statistic--jobs "saved"--that no think tank, government agency, or economist has ever, or could ever, devise. "If the 'saved or created' formula looks brilliant, it's only because Mr. Obama and his team are not being called on their claims," William McGurn writes in the Wall Street Journal. "And don't expect much to change. So long as the news continues to repeat the administration's line that the stimulus has already 'saved or created' 150,000 jobs over a time period when the U.S. economy suffered an overall job loss 10 times that number, the White House would be insane to give up a formula that allows them to spin job losses into jobs saved." This is bookeeping of the type Mr. Obama's predecessor famously called "fuzzy math."
Must be about all of those 'green jobs' that are being created. When are the adults coming home?
Well, to play the devil's advocate for a moment if I may, the numbers aren't 100% fabricated. Let's suppose it is possible to reduce damage done, which seems fairly logical. And it is further possible that economists could predict what they expected the numbers to be via their economic formula magic. And it's possible the losses are smaller than they expected.
That said, to claim full responsibility for that is ridiculous, yes. The economy is simply too complex to make a statement pinning blame or responsibility on a single factor or person.
I'd be interested to see your opinion of Newsy's recent video about the claim. I think they're fairly gentle on the claim, not really calling it out like it should be. But I appreciated the varied perspectives, which is something I normally wouldn't get talking to my devoted liberal or conservative friends.
If all jobs rate kept dropping to zero, only 600,000 jobs are still left, then Obama is true hero.... jez.
Wha' - HUH?
