Obama’s Job Claim Without Merit, On the Other Hand…

By Caomhin

As I said on Twitter earlier, “I am saving or creating 500 jobs by sending this tweet.”  Go ahead and prove me wrong.  Even the slightest effort on your part would be more than the media would have done to research Obama’s outlandish claim that the stimulus has thus far “saved or created” 150,000 jobs so far and he now promises to “save or create” 600,000 by blowing through his Porkfest even faster, even as it has failed already, with unemployment sitting at 9.6%.  His economic policies are the worst this nation has seen since Jimmy Carter by far, and probably since the Great Depression.  Should the economy not be growing positively by end of this month, we will be in a depression as we will have had far more than two quarters of negative GDP growth.  Yes, Obama has done nothing to prevent the first true depression this nation has seen since the 1920’s.  No matter what his friends in the media says, his policies have plunged us into a depression, and no spin on 9.6% unemployment is going to mask the truth.  Take a gander at this article from November 17th, 2008, well after his win in the polls and when President Bush was involving Obama in all matters economic:

The jobless rate, now at a 14-year high of 6.5 percent, will climb to 7.5 percent by the end of 2009, according to the median forecast.

Yes he can!….destroy the US economy and complete ruin millions of people’s lives with his worthless Stimulus bill that now has increased unemployment by a full 2.1% higher than the projects from the time he won the election, 21% increase in the unemployment rate.  Does that sound like it’s working to you?  Think that’s helping anyone?

Also pretty pathetic is the lack of transparency by the administration, something he promised he would increase.  Really?  Then how come not even members of his own party are capable of reading the bills that his administration is forcing upon the Legislature?  For that matter, if we’re to assume that 150,000 jobs have been saved so far, and let’s be generous and say five months since the passage of Porkfest, then assuming all spending is even (which it is not), the 787 billion was supposed to be spent over 24 months.  What’s that work out to per month?  787/24 = $32.79 billion dollars per month.  With five months passed, then we can reasonably assume that $32.79 (with a remainder) billion * 5 has been spent thus far, which is a total of $163.95 Billion dollars.   So 163.95 billion (total dollars spent) / 150,000 jobs “saved or created” works out to an average $1,093,000 per job.  That’s right, it takes Obama’s administration $1,093,000 to create a single job with stimulus money, worse yet, that’s assuming he’s telling the truth, which he’s not.  There’s no real way to judge this, payrolls are declining, unemployment is way higher than even his chief economists had predicted, and we’re still losing jobs.  We’re going to be up over 10% unemployment damn soon, and part of that is because of his policies and spending packages.

One last point I want to make here, which is, the “on the other hand,” portion referenced in the title, Obama is claiming he will “save or create” 600,000 jobs over the summer, but then you should factor this in as well, from the Washington Times:

A repeal of rules that govern the way the United States taxes the foreign earnings of American companies would make U.S. companies less competitive abroad, weaken their investments and lead to job losses at home, says a new economic report.

The report, authored by Robert J. Shapiro, a former Clinton Administration economic official, and Aparna Mathur, a research fellow at the conservative American Enterprise Institute, found that as many as 2.2 million American jobs could be put at risk by a repeal or scaling-back of the so-called corporate “tax deferral” law, a provision that allows companies to delay paying taxes.

Think Microsoft was kidding when they threatened to move more jobs overseas if Obama and his liberal army on Capital Hill move forward with punishing and crippling American companies with higher tax rates?  He’s not going to back down from this, I don’t believe either.  So then in addition to “positive” data if you believe the MSM of hundreds of thousands of people becoming unemployed last month, we’re staring at another 2.2 million more Americans out of work from just one of Obama’s relatively small policies.  I guess we can say he is simply PREVENTING AND DESTROYING JOBS.