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Archive for Saturday, October 31, 2009

Government: Stimulus saved, created 650K jobs

October 31, 2009

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In Kansas

According to the White House, $452,913,929 was paid to governments, companies, schools, nonprofits and others in Kansas as part of the economic stimulus plan, and it created or saved 5,935 jobs.

— Nearly 650,000 jobs have been saved or created under President Barack Obama’s economic stimulus plan, the government said Friday, and the White House declared the nation on track to meet the president’s goal of 3.5 million by the end of next year.

New job numbers from businesses, contractors, state and local governments, nonprofit groups and universities were released, showing 640,329 positions credited to the stimulus, according to the independent federal board monitoring the program’s progress.

Teachers and other education employees represent the largest number of jobs in the report — about 325,000. With state budgets in crisis, federal aid helped governors avoid major cuts in education, which officials said spared many teachers and school workers from the unemployment line.

But Republican Indiana Gov. Mitch Daniels, voicing the skepticism of many critics, has warned about putting too much stock in claims that the stimulus saved that many jobs. Chris Johnston, who oversees Indiana’s stimulus spending for Daniels, said Friday the state reported under the stimulus requirements that 13,000 teaching jobs were created or saved. But he’s not sure whether any of those people actually would have been laid off.

“I think that’s a hypothetical. I’m not sure we can say one way or another,” Johnston said.

Republican Senate Leader Mitch McConnell said “it’s bewildering” to see the Obama administration’s job-creation claims when 3 million jobs have been lost since Congress approved the program.

The new stimulus report follows the administration’s admission that earlier counts of jobs credited to the stimulus were faulty. A review by the Associated Press found the government’s early report overstated thousands of jobs saved or created.

Despite White House promises that errors would be corrected, the latest stimulus job count still includes mistakes such as the ones discovered in the AP’s earlier sampling of contracts.

For example, the Palm Beach County, Fla., water department reported 57 meter readers, customer service representatives and other positions as part of two water projects. That got incorrectly doubled to 114.

Some agencies that received stimulus money continue to report saving jobs, despite using the money for employee pay raises.

And the new data appeared to include at least dozens of entries in which contractors listed the same number of jobs as created or saved on different projects, which suggested double- or triple-counting of the same workers used on all projects.

It could take some time for the public to verify the White House’s claims, with more than 155,000 records dumped late Friday on the recovery.gov Web site, the government’s official accounting of stimulus activity.

But Vice President Joe Biden defended Friday’s report, saying it shows the recovery plan “is operating as advertised” and on target to reach Obama’s goal.

“We’re starting to make real progress on the road to recovery,” Biden said.

White House economic adviser Jared Bernstein said the figures show that, when adding in jobs linked to $288 billion in tax cuts, the stimulus has created or saved more than 1 million jobs.

The new data released late Friday represents 156,614 federal contracts, grants and loans awarded to more than 62,000 recipients worth a total of $215 billion. The largest numbers of jobs were created or saved by state governments. California received nearly twice as many stimulus contracts, grants and loans — $26.9 billion — as any other state, followed by New York with $14.5 billion and Texas with $13 billion.

Comments

Godot 4 years, 11 months ago

Meanwhile, in the middle of the night, the FDIC, which is broke, closed down 9 more banks, and an optimistic cost to the taxpayer of $2.5 billion.

http://www.fdic.gov/bank/individual/failed/banklist.html

No wonder there was so much BS propanda about "jobs created or saved" pushed out by the Obama administration this week. They hoped we would not notice that the banking system is insolvent.

Misdirection is the most important tool in a conman's toolbox.

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Godot 4 years, 11 months ago

http://www.fdic.gov/news/news/press/2009/pr09195.html

US Bank, which received TARP money because it was insolvent, has assumed the assets of all nine of these failed banks.

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Liberty275 4 years, 11 months ago

Each job is costing taxpayers around $100,000. Epic Fail.

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monkeyhawk 4 years, 11 months ago

Now, for a little good news for the progressives amongst us..

"And in one year's time we've seen the federal government take over 30% of all private wealth produced in this country. If they get their way and take over healthcare that will be another 18% for a total of 48% of the private wealth produced in this country."

http://forums.timesdaily.com/eve/forums/a/tpc/f/6501027316/m/18210903/r/24310903

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Richard Heckler 4 years, 11 months ago

The entire economy is in turmoil due to Washington D.C. fraudulent activities in which some big name people likely should be headed for prison as yet are not.

Shouldn't the republican party be in prison as an accomplice for failing to control THEIR party members? How can anyone vote republican ever again? Beginning in 1980 to present wrecking the USA economy and robbing financial institutions seems to have been well organized.

Why don't the USA citizens rise up and demand investigations and prision sentences instead of buying into the concept of " we must move forward" and not dwell on the past?

Why should big name politicians never be prosecuted yet a local bank robber goes to jail for years? The local bank robber did not wreck peoples retirement funds or put millions of USA citizens out of jobs?

What are the priorities of USA citizens? Why do allow elected officials to talk we the citizens out of prosecuting appointed and elected officials?

Below is a well established pattern of events. People should be investigated,indicted,prosecuted and sent to prison.

Isn't it odd each time our nations financial institutions crumble there are Bush family near by and a McCain still in office?

Who has history with financial institutions going south such as the savings and loan scandal? Republicans!

About the Bush/Cheney/Greenspan/Bernake fraudulent home loan scandal: http://www.dollarsandsense.org/archives/2009/0709macewan.html

About the Bush/Reagan Home Loan Scandal(home loans) http://rationalrevolution0.tripod.com/war/bush_family_and_the_s.htm

McCain: The Most Reprehensible of the Keating Five. The story of "the Keating Five" has become a scandal rivaling Teapot Dome and Watergate ... http://www.phoenixnewtimes.com/1989-11-29/news/mccain-the-most-reprehensible-of-the-keating-five/1

Shouldn't the republican party be in prison as an accomplice for failing to control THEIR party members? How can anyone vote republican ever again? Beginning in 1980 to present wrecking the USA economy and robbing financial institutions seems to have been well organized.

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Flap Doodle 4 years, 11 months ago

Get some new material, merrill. The Democrats control Congress and the Executive Branch now.

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sunny 4 years, 11 months ago

Shouldn't the headline of this story be "Obamy is a liar" instead ....

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Brent Garner 4 years, 11 months ago

Let's see, claim of 650,000 jobs created or saved, yet unemployment nears 10%. Somehow those "official" numbers don't add up to much!

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