Posted on 10/31/2009 9:44:51 AM PDT by NormsRevenge
The Obama administration on Friday touted reports of 640,000 stimulus jobs, the latest economic numbers and the backing of a Republican governor to try to undercut GOP attacks on the effect of its massive $787 billion package.
Reports released Friday afternoon showed that stimulus projects, such as highway and other infrastructure work, have directly saved or created 640,329 jobs, Vice President Joe Biden said. White House officials said a total of about 1 million jobs have been created or saved by the stimulus when taking into account the roughly 400,000 jobs that come from the economic effect of tax cuts, increased Pell Grants and other direct payments not measured in Friday's reports.
"I can say, without fear of being contradicted by a responsible source, that so far we have created over a million jobs," Biden said.
Biden also noted that the GDP grew by a 3.5 percent annualized rate in the third quarter of 2009, marking the first time the economy expanded since last year's second quarter. Economists "left, right and center have attributed [the growth] to the Recovery Act," he added.
The White House said the latest data are signs the economy is getting back on track and that "the much-maligned and battered Recovery Act," as Biden described it, is actually working.
...
Senate Minority Leader Mitch McConnell (R-Ky.) said it was "bewildering" to hear the White House's 1 million stimulus job claim. ..
...
Biden appeared Friday with California Gov. Arnold Schwarzenegger, one of a handful of Republicans outside Washington who publicly pushed for the White House's stimulus package.
"This is not something that is a Democrat issue here or a Republican issue; this is a people's issue," Schwarzenegger said. "It's a jobs issue. It's all about jobs, jobs, jobs."
Schwarzenegger also took on GOP suggestions that the stimulus reports have shown that the package hasn't had much effect. He said the data to be posted Friday afternoon will show that California, struggling to close a $60 billion deficit, has seen more than 100,000 jobs as a direct result of the package, the most of any state.
"This is also what our numbers show," Schwarzenegger added.
The data is available online at the White House's stimulus website, recovery.gov. The reports come from all 50 states and aim to show the result of about $159 billion in stimulus spending. About $340 billion in stimulus money has been spent so far.
Administration officials said the estimate of 1 million stimulus jobs created or saved so far isn't "perfect," but they said that it's in line with independent projections by the Congressional Budget Office and Moody's.
Jared Bernstein, the chief economist to the vice president, said that reports suggest that the stimulus is "on track" to hit the White House target of ultimately saving or creating 3.5 million jobs by the end of next year. The 640,329 jobs that are a direct result of the stimulus come from just 20 percent of stimulus spending, White House officials noted.
"A lot more ammunition left in this job package," Bernstein said.
any jobs saved here were in the educational system where liberalism has already decimated the state's future hopes of rising out of the abyss.
Unemployment is up, consumer confidence is down. They can spin all they want, but their stimulus has not work. Now all we have to do is pay off the debt that it created.
Of course he means he does not fear being contradicted by anyone in the MSM other than FOX
Arnold has done such a great job, right?
Consumer spending is down, business activity is down, the only thing up is government.
Oh Yeah.
arnie has done a real bang-up job,, fiscally, morally, he is a liberal’s dream candidate.. and they elected him along with the help of a bunch of Indies that supposedly are now re-gaining their sanity as the California Dream turns to so much vapour before their very eyes.
It’s a little late now tho.
What in the world are they drinking now at the white house now? Sounds like something besides beer? Bet it is white lightening!!
It’s a bit like a doctor bragging about closing up a gash in the forehead when the aorta has ruptured...
Our failures in Washington are out for lunch.
A stupid figure that is, will, and should be mocked. Charles Krauthammer skewered it on Special Report Friday night. The only thing that could have made the number more ridiculous would be if they had included a 'point five' at the end with a story of some fictitious person's (think Harry Reid's imaginary friend 'Tommy') second part time job they desperately needed to make ends meet.
I wonder how long they will keep up this charade?
When the official rate is 20% will they talk of saving 15 million jobs?
Will George Soros declare that this somehow proves free-markets don’t work? lol.
The left is so predictable.
The list, ping
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