Free Markets, Free People
Your Government BS Statistic Of The Day – “Saved” And Created Jobs
The Magic Unicorn and Snake Oil show that is the federal government has invented a new statistic for your entertainment, because it certainly has no real meaning. Why do I say that, you ask?
Well read this and tell me what you think:
The first direct stimulus reports showed that stimulus contracts saved or created just 30,083 jobs, prompting more Republican criticism of the $787 billion package.
The data posted Thursday was the result of the government’s initial attempt at counting actual stimulus jobs. Obama administration officials stressed that data was partial — it represented just $16 billion out of the $339 billion awarded — but they said it exceeded their projections.
Two points – we have no idea, given that number, what percentage were “saved” and what percentage were created. But it is clear that the claim of saving a job is a useful tool to pad the total. Even then, however, that means that each “saved” or created job cost you, Mr. and Mrs. Taxpayer, $533,000 per job. And yes, that’s for those “saved” as well.
Doesn’t government efficiency just dazzle the heck out of you?
Fear not, though, you haven’t seen all the magic unicorns or snake oil yet. Feast your eyes on this:
“All signs — from private estimates to this fragmentary data — point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months, a much needed lift in a very difficult period for our economy,” said Jared Bernstein, the chief economist for Vice President Joe Biden.
According to the White House recovery office’s rough calculations, the 30,083 jobs number projects out to a total of 1.2 million jobs saved or created by the stimulus through September.
Yessiree – when they get into the projecting business, why it’s even better than they thought. It seems – according to those wonderful projections – that we’ve been able to “save” or create 1.2 million jobs, at least in the world of statistics. Again, how many are “saved” vs. created seems to be an unknown. But whatever the mix, 1.2 million seems to be the number they’ll be crowing about.
Of course what they’ll be trying to forget are those other numbers they originally promised when they were selling the magic unicorns and snake oil called “the stimulus”. Seems the rubes were told that passage of that fantastic piece of legislation would most certainly “save” or create 3 to 4 million jobs.
Oh … that and keep unemployment under 8%.
Drink up folks – Dr. Obama’s elixer is guaranteed not to slip, rip, tear, get rusty or roll down the hill sideways. Helps your wallet, does you good and makes child birth pleasant, besides the benefit you get from it. Now who’ll have another bottle of Dr. Obama’s Magic stimulus tonic?
Ah, Dr. Krugman wants more, doesn’t he?