President Barack Obama is trumpeting a new White House estimate that his top economist calls "stunning": His stimulus plan has already created or saved up to 2 million jobs.
Here is the report from the White House.
As mentioned the other day, the Obama administration has decided that projects funded through Porkulus would no longer count the number of "saved or created" jobs because of the erroneous methods used to determine the number; that includes all the "jobs" that were "saved or created" in non-existent Congressional districts and zip codes. Instead, jobs that were done on projects funded by Porkulus would be counted as a "stimulus" job. It doesn't matter if the job was permanent or temporary, if the job still exists or is now gone. The AP piece reports on the change as well. But those jobs will still be called "save or created" by the administration, as their report states. As I had mentioned, 'I fully expect the number of Porkulus "stimulus jobs", as now defined by the administration, to match what The One promised.'
Sure enough, The One and his team of economic hacks will do just that. Christine Romer of the administration's Council of Economic Advisers (CEA):
Romer, meanwhile, said the stimulus is well on its way to meeting Obama's stated goal of saving or creating 3.5 million jobs. "We are very much tracking what we anticipated," she said.
With the official unemployment rate being at 10% or more in the last three months, and the percentage of workers being out of work approaching 22%, there isn't any mention of someone asking Romer how she can justify the numbers her group put out. Perhaps some intrepid reporter might do that today, but don't hold your breath. Chances are that The One and his minions will continue to spin this lying crap as gospel.
(Hat tip: Jim Hoft)