October 30, 2009

Deep Job Counting Flaws In Stimulus

Douglas McIntyre, 24/7 Wall Street

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The $787 billion economic stimulus package is meant to save or create 3.5 million jobs. That goal may be much less important than it was when the package was first approved by Congress. Unemployment will go over 10% later this year and could average that though 2010. The stimulus package cannot come even close to plugging that hole.

The Administration is fond of putting out reports and making statements about how well the $787 billion investment is working. It is now clear that some of that was based on false data.

The AP did an exclusive study of documents related to stimulus job creation and found that the Adminstration’s count is shy by at least 30,000 workers. The research found that “some jobs...

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TAGGED: Stimulus, Douglas McIntyre

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