Free Republic

Aug 20 (Reuters) - U.S. stocks opened lower on Friday following losses in global equity markets as worries about the economic recovery persisted.

Last year, White House econ omists claimed that the $862 billion stimulus would create 3.3 million jobs. Since then, the nation has lost more than 3 million jobs. That's a 6.3 million jobs gap. By the White House's own standards, the stimulus failed. So President Obama has shifted his argument. Sure, the economy lost jobs, he concedes -- but without the stimulus, it would've lost nearly 2 million more jobs. This is nothing but faith-based economics. The White House estimate of "saving" nearly 2 million jobs is based not on observations of the economy's recent performance -- but merely on...

The recent unemployment figures. over 10% of Americans out of work, blows through the President's projection at the time of the porkulous debate. At that time, America was promised that if his bill was passed, unemployment would not rise higher than 8%. The spike in unemployment is a black-eye to the president as it is proof that the President's plan of government spending like a drunken sailor on shore leave is doing very little to help the economy. The administration is so embarrassed about the bad numbers that they have revised their promises. Job creation is no longer the bell...

When President Obama started backpedaling on the number of Jobs his economic stimulus would create he started using the bogus term "Saved or created." This is how William McGurn described the term for the Wall Street Journal: "To begin with, the number is pure fiction -- the administration has no way to measure how many jobs are actually being 'saved.' And if we had tried to use something this flimsy, the press would never have let us get away with it." “How do you know what a saved job is? How do you know what jobs would have been lost...

How did Kentucky shoe store owner Buddy Moore save nine jobs with just $889.60 in federal stimulus money? He didn’t, and that’s turning into a big headache for him.Moore’s store in Campbellsville, Ky., filed one of 156,614 reports from recipients of stimulus dollars designed to show how money from the $787 billion program is being spent, and how many jobs the funds have created or saved. Moore’s slice of the stimulus came in an $889.60 order from the Army Corps of Engineers for nine pairs of work boots for a stimulus project. Moore says he’s been supplying the Corps with...

When President Obama started backpedaling on the number of Jobs his economic stimulus would create he started using the bogus term "Saved or created." This is how William McGurn described the term for the Wall Street Journal: "To begin with, the number is pure fiction -- the administration has no way to measure how many jobs are actually being 'saved.' And if we had tried to use something this flimsy, the press would never have let us get away with it." “How do you know what a saved job is? How do you know what jobs would have been lost...