Wikinvest Wire

Job growth of 95,000 per month this year?

Thursday, February 11, 2010

The AP reports that, according to the White House's Economic Report of the President, not only has the economic stimulus bill saved or created 2 million jobs over the last year, but job growth in the U.S. is expected to average 95,000 per month this year.

Casting its first year as positive, the administration's 462-page report served as a summary of its logic and a pitch for Obama's future agenda.

Recognizing voters were likely to hold Obama to account for the economy, the White House team cast blame on their predecessors and unpopular Wall Street bankers.

"I think there's just no way to understate how huge the economic challenges facing the country have been this past year," said Christina Romer, head the Council of Economic Advisers. "So everything obviously from the financial crisis, the terrible recession, but the longer-run problems — the stagnating middle-class incomes, soaring health care costs, the failure to invest in education, innovation, clean energy — we certainly inherited an economy with a number of economic problems."

It's not clear whether the it-didn't-break-on-my-watch message would resonate with voters. Republicans were quick to describe the document as propaganda masquerading as governing.
Yes, surely the American people - many millions of whom are unemployed, in foreclosure, or undergoing some other form of economic distress - are pleased to hear that the report really isn't about jobs ... it's about politics.
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5 comments:

Anonymous said...

That report sounds like central bank propaganda. The bank creates a huge disaster by encouraging too much debt, then loudly brags that they prevented the Great Depression with their heroic encouraging of even more debt.

The bigger the lie, the more likely crowds are to believe it.

Anonymous said...

Green Shoots! I love how this administration takes credit for how they are going to save the world in the future. Recognition today for the promises of tomorrow (which never come).

oc bear said...

This is an easy promise to fulfill since the census is hiring 1 million temp employees this year. 1,000,000/12 = 100,000 per month.

Anonymous said...

495-page report = ignore the facts, just read the press release

Anonymous said...

Uh your math needs a bailout.

1,000,000 / 12 = 83,333

But your point is taken and the math works!

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