Unemployment is at 9.4%, a 26 year high; the country loses around 600,000 jobs a month. GM just filed bankruptcy, and Tim Geithner is getting laughed at by Chinese students when he talks about the American dollar. But all is well, Barack Obama has just promised that 600,000 jobs will be created by the $787 billion dollar stimulus bill this summer.

Obama 600000 jobs stimulus

600,000 Jobs Created or Saved

President Obama said today that he expects his federal stimulus bill to “save or create” 600,000 jobs this summer which he says will help the country pull out of the current recession by the fall. These jobs will be created by the federal government spending billions to expand healthcare ( I wish someone would explain that one to me), working on national parks (temporary at best), hire teachers (their laying them off in my state), and improving military facilities ( didn’t he just ask Secretary Gates to cut the Pentagon’s budget?).

The 600,000 job figure is based on macroeconomic estimates, meaning you can’t really expect 600,000 new jobs, it’s just a nice number to throw around. Republicans and critics of the Obama administration have argued that the 600,000 job number is unverifiable, which is true.

Obama has been saying all along that his economic policies would create or “save” jobs. What exactly is a saved job, and how does one calculate with any certainty the number of “saved” jobs in an economy? In a written statement Obama said:

“We have a long way to go on our road to recovery but we are going the right way,” “Our measure of progress is the progress the American people see in their own lives.”

He might want to rethink that one, for years the media told us the economy was bad based upon what we saw our neighbors going through. Now, progress is based upon the progress we see in our own lives. Can anyone say hypocrisy?

The Obama Administration is highlighting what it calls its “Roadmap to Recovery”. This is 10 projects that it says will lead to the 600,000 jobs created by the stimulus funds.

Obama says that 150,000 jobs were either saved or created during his first 100 days in office. The 600,000 jobs saved or created covers the next 100 days, I ask you again, prove it.

Save or Create Jobs?

Photos: Photos: www.wenn.com