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Stimulus Will ‘Save’ 3.5M Jobs By 2010

Reuters takes dictation from the propagandists in the Obama administration:

U.S. stimulus to save 3.5 million jobs by end 2010: official

Mon May 11

WASHINGTON (Reuters) – The Obama administration’s fiscal stimulus plan will meet previous estimates to save 3.5 million U.S. jobs by the end of 2010, but the unemployment rate at that time may be higher due to further deterioration in the economy, a senior administration official said on Monday.

The official said the administration was monitoring closely the results of the $787 billion spending and tax-cut package to determine whether additional actions are needed as "mid-term" economic forecasts are prepared by the White House.

"At this point we think that we’ve taken the right steps and (the plan) is going to do what it needs to do for the American people, but the president always said we’ll do what it takes. So we will very much be watching," said the official, who was not authorized to speak publicly on the stimulus program.

The White House Council of Economic Advisers on Monday released a report showing the plan would save or create 1.5 million jobs by the end of 2009 and 3.5 million by the end of 2010.

While that is unchanged from a report made in January, the official said conditions have deteriorated since then.

"In 2010 quarter four, wherever we were going to be, we felt that we were going to be 3.5 million jobs bigger than that because of the stimulus package," the official said.

Because of the lower baseline, the unemployment rate at the end of 2010 will be higher than previously anticipated, the official added.

On Friday, the Labor Department said U.S. employers shed 539,000 jobs in April, pushing up the unemployment rate to 8.9 percent, the highest since September 1983.

What a typically pathetic example of our media’s newspeak.

The official said the administration was monitoring closely the results of the $787 billion spending and tax-cut package to determine whether additional actions are needed as "mid-term" economic forecasts are prepared by the White House.

What results? And what tax cuts?

[S]aid the official, who was not authorized to speak publicly on the stimulus program.

Why is that? For national security reasons?

Or does this official not want to have to answer any questions? Or take the responsibility for being so wrong?

Because of the lower baseline, the unemployment rate at the end of 2010 will be higher than previously anticipated, the official added.

You see. Even though there will be more unemployed (because of that evil ‘lower baseline’), Mr. Obama will still have saved 3.5 million jobs.

That is a given.

This article was posted by Steve on Tuesday, May 12th, 2009. Comments are currently closed.

15 Responses to “Stimulus Will ‘Save’ 3.5M Jobs By 2010”

  1. proreason says:

    Breaking news from the Proreason Press:

    (prp) Officials reported today that proreason has saved 416,667 jobs so far with the proreason stimulus plan. Unemployment would be 416,667 higher without the stimulus.

    When asked to comment, a spokesperson for proreason said “proreason predicted 3 months ago that reading his posts would save 5,000,000 jobs in the next 3 years. 1/12th of the time has passed, so 416,667 jobs have been saved by proreason’s quick action to stave off the financial crisis.”.

    Governments around the world are clamoring to find out how proreason has been able to accomplish such a feat in dire financial times. There is no word yet whether proreason is sharing his methods with countries outside the US.

    • Liberals Demise says:

      Is this the samey-same math that Nancy (Stretch) Piglosi uses?
      I mean she did say that “500 million jobs a month” would be made just a few months ago.

      Okay….I will just figure the source.

    • Liberals Make Great Speedbumps says:

      THANKS PR!!!!!!!!!!!!!!!!!!!!!!!!! Yes We Can!

  2. Colonel1961 says:

    And just which part of this article is considered news?

  3. GL0120 says:

    TCO said it, the media believes it, and that settles it.

  4. Weasel says:

    A million here, a million there… Math class is hard! Let’s face it, if the reporters had any brains, they would have gotten real jobs. So they just take the numbers in the PR release and run with it – especially if it fits their world view of how things are or should be…

  5. Liberals Demise says:

    Look to Californacation for the answer to the jobs that will be saved.

    UNION JOBS!!!

    President of the United States………bought and paid for by union donations.

    • proreason says:

      Virtually every job “saved” will be a government job.

      Every private sector job takes about 2 government jobs to replace it, since the government is no better than 30% less efficient than the private sector.

      And every government job takes about 10 private sector jobs to pay the taxes to support it.

  6. Douglas says:

    And our daily ration of chocolate will be raised from 6 grams to 5 grams!

  7. Right of the People says:

    THE OBAMANATION HAS SPOKEN, LISTEN AND OBEY!

  8. VMAN says:

    I have heard double talk before but this takes the cake. Unemployment will be up but 3.5 million jobs will be “saved”. How do you measure a job “saved”? These people just make crap up as they go along and the press (LOL) just blindly goes along with it. The journalistic malpractice these days is unbelievable.

    • pdsand says:

      It’s sort of akin to the notion that if you issue a government mandate that buildings be built more efficient, while there’s no technical way to do it right now, and somehow, someone invents a way to comply, that that invention was a “market solution” to the energy efficiency problem.
      Here in the real world, companies that are in “business” will struggle under higher taxes and new regulations, and shed jobs like crazy in fear of the damage Obama will do to our economy. But those jobs don’t really count anyway. But the fact that 3.5 million government employees and contractors will receive a portion of funding from the stimulus versus the state or local taxes means that they represent a job “saved”.
      It really is the problem Limbaugh has been fighting all along. Words mean something.

  9. BigOil says:

    Notice how the number they decided to fabricate, 3.5 million jobs saved, is not a round number like 3.0 million jobs to make it appear to be backed up by some kind of analysis.

    We know from history the 3.5 million target will be met. The Soviet Union never failed to meet a 5 year plan.


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