Friday, June 5, 2009

Where did all those 'saved jobs' go?

Some sobering economic numbers:

Since Obama Took Office, The U.S. Economy Has Lost More Than 2,180,000 Jobs. www.bls.gov

In May 2009, The Unemployment Rate Jumped To 9.4 Percent, the highest since 1983. www.bls.gov

When Obama Took Office In January 2009, The Unemployment Rate Was 7.6 Percent. www.bls.gov

The National Association For Business Economists Predicted That The U.S. Would Lose 4.5 Million Jobs In 2009. (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.

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. (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. www.bls.gov


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