President Obama on July 1st – Stimulus has “done its job.”
Unemployment figures released on July 2nd – 467,000 jobs lost and jobless rate at 9.5%, the highest in 26 years.
I think the only job the stimulus has done has been to reward all the liberal special interest groups that back Obama in the election and allow the liberals in Congress to pass a massive expansion of the government under the guise of stimulus.
Where’s the stimulus, Barack?
This WSJ article by William McGurn is the best explanation of the phony job claims by the Obama Administration. Several other posts have shown the lack of job creation by the stimulus funds, but Obama has taken it to a new level.
In a wise — but dishonest — political move, McGurn points out how the Obama claim of jobs “saved” is phony. It is a dubious economic measure that cannot be confirmed. So when the stimulus bill doesn’t work (as we are seeing right now, 1.6 million jobs lost since it passed), the Obama Administration can say it worked because we “saved” all these jobs that would have been lost.
If you Google “Obama Saved or Create” you get 726,000 results showing how widely this phrase has been thrown around. In the mainstream media’s love affair with Obama, the WSJ is alone in questioning the validity of this bogus claim.