Obama’s Job Growth Plan Sounds Like An Auction To Me

Admit it, Obama’s job growth plan is sounding like an auction of sorts.  The numbers just keep going up and up.  I’m picturing Obama standing in a crowd at an auction and the auctioneer is holding up an economic plan focused on job growth (or I guess just saving jobs in Obama’s case).  Obama holds up a finger and the auctioneer says, “We have 2 million jobs…anybody wanna go to 2.5 million?”  And then Obama lifts his finger and nods his head – notice he is betting against himself.  And then the auctioneer asks for 3 million and Obama nods the head again.  Last bet made is at 4 million as of today.  Wonder what it will be tomorrow?  Don’t you just love how Obama plays switcheroo with numbers?

What I am talking about is the report that I heard tonight that two of Obama’s advisors analyzed his revitalization plan and project that it could save or create 4 million jobs.  Yeah, I’m going to believe Obama’s people on that.  Actually all I have to do is look at the report to see what a farce his plan will turn out to be.  Here are some excerpts:

“Certain industries, such as construction and manufacturing, are likely to experience particularly strong job growth under a recovery package that includes an emphasis on infrastructure, energy, and school repair. But, the more general stimulative measures, such as a middle class tax cut and fiscal relief to the states, as well as the feedback effects of greater employment in key industries, mean that jobs are likely to be created in all sectors of the economy.”

 

I love the use of the term “likely”. Kind of like Obama’s use of “hope”. Meaning it is not going to happen. Of course these are going to be construction jobs and as I have predicted, the illegals will probably be working them.

“More than 90 percent of the jobs created are likely to be in the private sector. Many of the government jobs are likely to be professionals whose jobs are saved from state and local budget cuts by state fiscal relief. ” 

 

It’s amazing how much these numbers change. Now Obama is creating a whopping 90 % of private jobs.

“It should be understood that all of the estimates presented in this memo are subject to significant margins of error. There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress. But, there is the more fundamental uncertainty that comes with any estimate of the effects of a program. Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity. “

 

In other words, we’re full of crap and we know it. Look at the verbage here: fundamental uncertainty, estimates, hypothetical and, my favorite, uncertainty is higher because of current recession (but we’re basing this on historical expericence even though this is unusual).  Then the plan describes spending on more food stamps and unemployment insurance, state fiscal recovery which is…spending; and substantial investments in education, energy, infrastructure, healthcare…more spending.  We’re just going to spend our way out of this.

 “The final step is to take the effect on GDP and translate it into job creation. Not all of the increased output reflects increased employment: some comes from increases in hours of work among employed workers and some comes from higher productivity.”

Somebody needs to tell these economic experts that socialism does not breed higher productivity. And how does increased work hours translate into job growth?   

“First, the likely scale of employment loss is extremely large. The U.S. economy has already lost nearly 2.6 million jobs since the business cycle peak in December 2007. In the absence of stimulus, the economy could lose another 3 to 4 million more. Thus, we are working to counter a potential total job loss of at least 5 million.”

 

I’m not an economist, but if we lose 5 million jobs and Obama manages a miracle and creates (because he hasn’t saved any jobs if 5 million are lost) 4 million jobs, that means we are still down by 1 million so how is this job growth?  The analysis also repeatedly mentions that there is considerable uncertainty throughout.  Really gives one confidence.  You can find a link to the PDF at Obama’s website here.  I just love how the report that the media releases to the public just states that Obama’s experts say his plan will create or save 4 million jobs and nothing about the fact that this is a crap shoot.  Just like the first stimulus that did not work and that first bailout which did not work.

Do I hear 4.5 million…anyone…5 million…anyone?

UPDATE:  In Sean Hannity’s first segment tonight of his new show he referred to Obama’s job numbers and how they keep going up and that it makes him sound like a cattle auctioneer.  It felt pretty good to think we either think the same or someone close to him might have perused my blog.

2 responses to “Obama’s Job Growth Plan Sounds Like An Auction To Me

  1. His plan rewards every special interest group that got him elected. We don’t need the government giving away our money.

    If he is serious about job growth and restoring confidence in the economy, then put permanent tax reductions in place for individuals and business, and freeze government spending.

    • Amen Murph! What happened to the two month income tax break? That was a great idea. And cut, cut, cut those corporate tax rates. Again, as I scream over and over, they are either incompetant or doing this on purpose. Do they want us on our knees for some reason?

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