By Mosi Secret,Pro Publica
Obama lies about Stimulus Jobs
In President Barack Obama’s news conference on Wednesday night,he said the $787 billion economic stimulus bill has already created or saved over 150,000 jobs. We decided to find out how the president arrived at that figure.
The simple answer:guesswork.It turns out the feds don’t have a way to measure exactly how many jobs have been created or saved,so they use projections instead,and it’s all rather academic.
The new estimate,like the original one predicting the stimulus bill would save or create 3 to 4 million jobs,came from the Council of Economic Advisers. To get the number Obama used,economists at the council simply prorated their earlier estimates based on stimulus outlays as of April 21.
As we’ve reported before,the administration’s estimates are based on a guess