The Obama administration has rightfully taken a lot of criticism for the non-specificity of their claims that the $787 billion stimulus package “created or saved” millions of jobs. The ambiguity between creating and saving jobs is ridiculous enough, but their totally unsupported claims of millions of job creations (or saves) in the face of 9.8 percent unemployment have been outlandish. Well, the first direct stimulus reports have finally been released and we now know that only 30,083 jobs have been created or saved as a result of the enormous spending package according to data summarized by the Recovery Accountability and Transparency Board, which oversees how the stimulus plan is carried out.
The Wall Street Journal reports the administration is pleased with the numbers:
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.
This is truly stunning. We have lost 3.4 million jobs since the hurried passage of the stimulus package eight months ago and they have the audacity to claim the stimulus package exceeded their projections.