WHERE ARE THOSE "SAVED JOBS"?

Another Month Of Abysmal Job Numbers Show That Obama's Giant Stimulus Package Has Failed To Help Our Economy Recover
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Christina Romer, Chair Of Obama's Council Of Economic Advisers: "The gold standard is going to be jobs numbers. And realistically, we're not going to see us adding jobs for a while." (Steve Holland, "100 Days Later, Is The Stimulus Paying Off?" Reuters, 5/27/09)

The Obama Economy By The Numbers

Since Obama Took Office, The U.S. Economy Has Lost More Than 2,180,000 Jobs. (U.S. Bureau Of Labor Statistics, "The Employment Situation: May 2009," Press Release, www.bls.gov, 6/5/09)

In May 2009, The Unemployment Rate Jumped To 9.4 Percent. (U.S. Bureau Of Labor Statistics, "The Employment Situation: May 2009," Press Release, www.bls.gov, 6/5/09)

When Obama Took Office In January 2009, The Unemployment Rate Was 7.6 Percent. (U.S. Bureau Of Labor Statistics Website, www.bls.gov, Accessed 6/2/09)

In May 2009, There Were 132,151,000 Nonfarm Jobs In The U.S. (U.S. Bureau Of Labor Statistics, "The Employment Situation: May 2009," Press Release, www.bls.gov, 6/5/09)

When Obama Took Office In January 2009, There Were 134,333,000 Nonfarm Jobs In The U.S. (U.S. Bureau Of Labor Statistics, "The Employment Situation: March 2009," Press Release, www.bls.gov, 4/3/09)

The National Association For Business Economists Predicted That The U.S. Would Lose 4.5 Million Jobs In 2009. "[T[he National Association for Business Economists on Wednesday predicted total U.S. job losses of roughly 4.5 million in 2009, leading to a jobless rate of 9.8 percent." (Steve Holland, "100 Days Later, Is The Stimulus Paying Off?" Reuters, 5/27/09)

Obama As CEO: Immediately Cut More Than 21,000 Jobs

On Monday, Obama Announced His GM Plan That Made The Federal Government The Majority Shareholder. "The government-orchestrated shrinkage will cost taxpayers $30 billion, on top of $20 billion in U.S. funds already put into the company. In exchange, the U.S. will own 60% of the new GM. In all, the rescue of the car industry could cost taxpayers close to $100 billion." (Neil King Jr. and Sharon Terlep, "GM Collapses Into Government's Arms," The Wall Street Jou rnal, 6/2/09)

The Same Day, GM Announced That It Will Cut About 21,800 Jobs By 2011. "G.M. is cutting about 21,800 hourly jobs by 2011, though it did not say how many people currently work at the plants being closed." (Nick Bunkley, "G.M. Designates 14 Plants For Closing," The New York Times, 6/1/09)

GM Will Close 14 Plants, Including Seven In Michigan. "General Motors said Monday that it would close 14 plants, including seven in Michigan, as part of its restructuring in bankruptcy." (Nick Bunkley, "G.M. Designates 14 Plants For Closing," The New York Times, 6/1/09)

The Stimulus Has Come Nowhere Near Obama's Expectations

Obama Promised That His Stimulus Package Would Save Or Create 3 To 4 Million Jobs. "Obama had vowed the stimulus would save or create 3 million to 4 million jobs in about two years when he pushed it through the Democratic-controlled U.S. Congress in February." (Steve Holland, "100 Days Later, Is The Stimulus Paying Off?" Reuters, 5/27/09)

The Administration Claims That The Stimulus Has "Saved" Nearly 150,000 Jobs To Date. "So far, it has saved or created nearly 150,000 jobs, a relatively small impact on an economy that is still losing hundreds of thousands of jobs a month due to the recession."

(Steve Holland, "100 Days Later, Is The Stimulus Paying Off?" Reuters, 5/27/09)

But Since Obama Took Office, The U.S. Economy Has Lost More Than 2,180,000 Jobs. (U.S. Bureau Of Labor Statistics, "The Employment Situation: May 2009," Press Release, www.bls.gov, 6/5/09)

Stimulus Money Is Not Making It To The Hardest Hit Areas

According To A USA Today Review, The Federal Stimulus Money Has Yet To Reach States Where Unemployment Has Hit Hardest. "Nationwide, federal agencies have awarded nearly $4 billion in contracts to help jump-start the economy since President Obama signed the massive stimulus package in February. But, with few exceptions, that money has not reached states where the unemployment rate is highest, according to a USA TODAY review of contracts disclosed through the Federal Procurement Data System." (Brad Heath, "Stimulus Projects Bypass Hard-Hit States," USA Today, 5/28/09)

"States Hit Hardest By The Recession Received Only A Few Of The Government's First Stimulus Contracts, Even Though The Glut Of New Federal Spending Was Meant To Target Places Where The Economic Pain Has Been Particularly Severe." (Brad Heath, "Stimulus Projects Bypass Hard-Hit States," USA Today, 5/28/09)

The Government Has Spent Only About $7.42 Per Person In States With High Unemployment; North Dakota, With The Lowest Unemployment Rate, Has Received About $26 Per Person. "Even so, the first contracts have amounted to only about $7.42 per person on average in the eight states with unemployment rates higher than 10% last month. By comparison, government records show it has awarded about $26 worth of contracts per person in North Dakota, whose unemployment rate is the nation's lowest." (Brad Heath, "Stimulus Projects Bypass Hard-Hit States," USA Today, 5/28/09)

According To The Associated Press, States Are Planning To Spend 50 Percent More Per Person In Areas With Low Unemployment Than Areas With The Highest Unemployment. "The AP's review of more than 5,500 planned transportation projects nationwide is the most complete picture available of where states plan to spend the first wave of highway money. It reveals that states are planning to spend 50 percent more per person in areas with the lowest unemployment than in communities with the highest." (Matt Apuzzo and Brett J. Blackledge, "Stimulus Watch: Jobs, But Not Where Needed Most," The Associat ed Press, 5/11/09)

The Associated Press' Analysis Challenges The Administration's Claim That Stimulus Money Would Create Jobs In The Areas That Have Been Hit The Hardest. "The early trend seen in the AP analysis runs counter to expectations raised by Obama, that road and infrastructure money from the historic $787 billion stimulus plan would create jobs in areas most devastated by layoffs." (Matt Apuzzo and Brett J. Blackledge, "Stimulus Watch: Jobs, But Not Where Needed Most," The Associated Press, 5/11/09)

Democrats Have Claimed Economic Recovery While Jobs Are Disappearing

OMB Director Peter Orszag Said The Effects Of The Stimulus Would Be Felt In "Weeks To Months." CNN's Wolf Blitzer: "If it [the stimulus bill] passes the way you want it, more or less, without huge changes, when do you think the American public will begin to feel some benefit from this? In other words, jobs will stop being lost and maybe some of them will actually be created." OMB Director Peter Orszag: "Well, it's going to take a bit of time, and we have to remember we're inheriting -" Blitzer: "Define a bit of time." Orszag: "It will take weeks to months." (CNN's "Situation Room," 2/5/09)

Larry Summers, Director Of The National Economic Council: "You'll See The Effects Begin Almost Immediately." CNN's Wolf Blitzer: "It's a tough call, obviously, right now for these members of Congress. But if the president gets his way and gets this package approved, he signs it into law, how soon before the American public starts to feel results, the creation of jobs?" Larry Summers: "You'll see the effects begin almost immediately." (CNN's "The Situation Room," 2/9/09)

Christina Romer, Chair Of The President's Council Of Economic Advisors, Said "We Will Turn The Corner And We Will Start Adding Jobs." Christina Romer: "I think we're certainly are experiencing a very severe downturn, but I think with this action, together with the actions that Secretary Geithner announced yesterday, we will turn the corner and we will start adding jobs, rather than losing them at more than half a million a month, like we have been for the last four months." (Fox Business Ne twork's "Happy Hour," 2/12/09)

Press Secretary Gibbs: The Stimulus Has "Already Started To Save And Create Jobs." Robert Gibbs: "We have passed recovery and reinvestment plan that's already started to save and create jobs in this country." (Fox News' "Fox And Friends," 2/24/09)

Reid Said "The Nation's Economy Is Starting To Rebound." "Senate Majority Leader Harry Reid (D-Nev.) said on Monday that the banking industry is 'very close' to being stabilized and the nation's economy is starting to rebound." (Bob Cusack, "Harry Reid: Economy Starting To Turn Around," The Hill, 2/23/09)

Reid: "Things are beginning to turn. And I think that the American people are going to start feeling that very soon." (MSNBC's "Morning Joe," 2/23/09)

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