The Obama White House, no doubt feeling the pressure of rising unemployment rates across the country, came out with a ridiculous report today that the highly touted “Stimulus” Bill has created or saved 650,000 jobs. Aside from the fact the White House cannot tell how many jobs were saved or created, any analysis of unemployment rates will show that since the $787 billion stimulus bill was passed in early February, unemployment rates have gone up in all but a handful of states and for the country as a whole.
Despite the rosy GDP number which indicated that the GDP in the third quarter was 3.9%, unemployment claims continue to go up from week-to-week and month-to-month. The recession may be officially “over”, but the White House is stretching the truth to imply that the Stimulus Bill has anything to affect the turnaround. A good part of the increase in GDP (1.5%), for example, was attributable to the “Clash for Clunkers” program which moved auto sales forward by a few months. And most of those sales were for foreign produced cars so even that program didn’t necessarily have a positive affect on American jobs.
It’s also important to note that the vast majority of the saved or created jobs were in the public sector. By its own admission, the White House acknowledges that just 30,000 private sector jobs can be attributed to the Stimulus Bill.
What this White House continually fails to comprehend is that Americans can see with their own eyes what the Obama administration is up to. No matter how the White House tries to spin it, the growing ranks of the unemployment know best that the Stimulus Bill has done nothing to grow or incent job creation in the private sector.
The Obama White House needs to stop trying to spin the unexplainable and marshal whatever resources are necessary to stimulate job creation in the private sector.