Obama: “Every economist” says I saved or created 2 million jobs

posted at 9:30 am on February 4, 2010 by Ed Morrissey

Jake Tapper is a little confused, and so am I.  The White House supposedly abandoned the “saved or created” jobs metric because of its fantasy elements and prefers now to count jobs “funded” through Porkulus, an order that came from one of the chief economists in the White House, Peter Orszag. So why did Obama claim to a Nashua, New Hampshire audience on Tuesday that he had “saved or created” two million jobs?

“Now, if you hear some of the critics, they’ll say, well, the Recovery Act, I don’t know if that’s really worked, because we still have high unemployment,” the president said. “But what they fail to understand is that every economist, from the left and the right, has said, because of the Recovery Act, what we’ve started to see is at least a couple of  million jobs that have either been created or would have been lost. The problem is, 7 million jobs were lost during the course of  this recession.”

Every economist?  A good rule of thumb to consider the truthfulness of any speaker is his use of the terms always, never, none, all, and every.  Those terms usually provide a key for a lie or a gap in knowledge — and Tapper points out the truth:

At the end of November, Congressional Budget office Director Douglas Elmendorf wrote that because of the stimulus bill “in the third quarter of calendar year 2009, an additional 600,000 to 1.6 million people were employed in the United States..”

But clearly other economists are much more skeptical, including Dan Mitchell at the libertarian Cato Institute, and J.D. Foster at The Heritage Foundation.

Some economists say the whole notion of counting “saved or created” jobs is impossible. Harvard University labor economist Lawrence Katz told ProPublica that trying to count how many jobs have been saved or created is “a silly exercise.”

And in fact, in December the Office of Management and Budget director Peter Orszag issued a directive scrapping the whole “saved or created” construct.

Why is the “saved or created” meme “a silly exercise”?  Economic policies will get judged on whether they promote growth in both production and jobs.  On that metric, Obama flopped in his first year.  Prior to the 2007 recession, the US started on the path of both production and job growth within 12 months of the start of the recession.  Obama took office in the 13th month, three months after a financial collapse.  Twelve months later, we’re still shedding jobs with no end in sight.  That’s the real measure of economic policy, and so far, Obama’s failing.

The White House only documented 650,000 jobs supposedly saved or created — and that was when the construct collapsed.  The counts included jobs that were never at risk in the first place, double-counted some jobs, counted jobs that had yet to be created, and so on.  The most infamous of these claims involved a single lawnmower that supposedly saved or created 50 jobs.  In the end, even the man in charge of the website that proclaimed these supposed victories admitted that he could not certify any of the data at Recovery.gov last November — which is why Orszag told his OMB staff to stop claiming jobs “saved or created.”

Apparently, that memo didn’t get to Obama, or more likely, Obama simply likes to make claims that are flat-out false, and the use of “every” is a the key to understanding that.  “Every economist” doesn’t buy the 2 million saved or created claim; in fact, not every economist in his own administration would support that claim, because it isn’t true, and Obama knows it.


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This President is the biggest joke of all time. Unfortunately not a very funny joke…Impeachment should now be the target as 2010 will put a number of non-Communists back into our government. If the Republicans don’t do what’s needed to right this nation, then they should be next. It’s time for the government to be of the people again, not a government for the political class of hacks.

Again. Obama sucks worse than any other Progressive garbage the White House has ever seen…

adamsmith on February 4, 2010 at 10:50 AM

I think it left; massive stomping will cause retreat.

Bishop on February 4, 2010 at 10:50 AM

I think DC jumping into the fray was the cherry on top!

ladyingray on February 4, 2010 at 10:51 AM

Shanghai

DarkCurrent on February 4, 2010 at 10:43 AM

That’s so cool! I visited Shanghai a few years ago. I love it! How long have you been there?

AsianGirlInTights on February 4, 2010 at 10:53 AM

I think it left; massive stomping will cause retreat.

Bishop on February 4, 2010 at 10:50 AM

So does a 1 hour library limit…

Odie1941 on February 4, 2010 at 10:53 AM

I think DC jumping into the fray was the cherry on top!

ladyingray on February 4, 2010 at 10:51 AM

That’s one thing I love about HA.
We got contributors who live all over the world, and who have worked in just about every industry known to man.

No matter what the subject, somebody with actual, real world knowledge will usually chime in.

MarkTheGreat on February 4, 2010 at 10:54 AM

Bbbbut I’m sure China paid for their funerals!

/Palin Steele

gwelf on February 4, 2010 at 10:45 AM

When each death happened, there was no mention of it, anywhere. But the next day, there was a replacement. I call that excess inventory being used up.

Electrongod on February 4, 2010 at 10:54 AM

China…where economic growth is 10%.

Check. Mate.

Palin Steele on February 4, 2010 at 10:26

You must be a super duper genius. Let us all bow down to your superiority.

Forget the bow, you seem to have no understanding when it comes to comparing nations.

A rate of 10% economic growth in China is equivalent to a rate of 1.4% economic growth in the USA.

Are you dave742 in disguise?

rukiddingme on February 4, 2010 at 10:55 AM

China has a population of 1.34 billion people. USA has a population of 307 million people.

GDP
1. China=8.7 trillion
2. USA=14.3 trillion

We spot them over a billion people and almost double their economic output. A little perspective is necessary.

anuts on February 4, 2010 at 10:55 AM

China more socialist/communist than USA – CHECK

China economy booming much greater than USA – CHECK

you lose.

Palin Steele on February 4, 2010 at 10:31 AM


Ahhh, the leftist telling us the virtues of China. I lived in China for two years. Yes it is booming economically. They have adopted capitalism while keeping a communist government. The only reason China is booming the way it is, (1) they pay people cents on the dollar, (2) they work them 7 days a week for 12-14 hours per day, (3) they don’t impose any of the regulations that the US puts on American businesses.

The one good point about the Chinese economy is that they don’t have any labor unions destroying their businesses. However, it is the same situation that is going on in China that warranted the creation of labor unions in the first place in the US. Our labor unions have lost sight of that. Just wait until the Chinese workers figure out this unionization thing. Then we will see how booming the Chinese economy is.

Also, about 90% of the population still work in the fields. They are not to keen on this capitalist transition that China is going through. It is not what they signed up for when Mao had the revolution. The biggest fear the Chinese government has is an uprising of the peasants. That is why they are so quick to appease their complaints by eliminating their taxes (tax cuts). That isn’t going to last forever. It is a matter of time before they uprise against the government. The problem the government has is that all of their enlisted soldiers come from the country side (vice their officers who are university educated and come from well-to-do families.) When the peasants do uprise, who do you think the enlisted soldiers are going to side with? The government or mom and dad?

DoS_Conservative on February 4, 2010 at 10:56 AM

Paul Krugman and his alter-ego Paul Krugman both agree.

The Dean on February 4, 2010 at 10:58 AM

I think it left; massive stomping will cause retreat.
Bishop on February 4, 2010 at 10:50 AM

Well, we can make a guess as to what the Far-left National Socialist Donk would have said next after being stomped with the China thing…
Okay … maybe China’s not a good example … maybe Cuba…. or North Korea….???

er… forget it

Chip on February 4, 2010 at 10:59 AM

I was asked where a communist/socialist system provided a better economic growth.

I said China which is true.

Palin Steele on February 4, 2010 at 10:35 AM

BZZZT! WRONG! Chinese socialism is not “providing” its economic growth. The capitalist reforms begun in 1978 are responsible. The Chinese took the handcuffs off of BUSINESS PRIVATIZATION many years ago; this is responsible for its economic boom.

It is still a socialist and even repressive country in a social-order sense. It really is a class-stratified society now as the titans of business have all the rights. Common workers still have relatively few rights and do deserve the kinds of reforms other more enlightened nations enjoy. As a whole, non-owner workers in China are relatively low-paid and have few real benefits.

China is a unique case study in its hybrid social model. Capitalism has brought all the elevated living standards that the nouveau-bourgeoisie there enjoy. However, the legacy of decades of socialist privation encourages the non-privileged to think they are better off, which they are perhaps in a marginal sense but not in a practical, humane sense. In other words it’s the lingering legacy of Chinese socialism that represses ordinary Chinese workers and holds them down to this day.

“Palin Steele” I wonder if you understand what a “Sophist” is because you are one. You rely on equivocations and unsustainable, unexplained and faulty leaps of logic to pretend that you are “proving” a case.

Edouard on February 4, 2010 at 11:00 AM

They’re spending right now to get us out of a recession.

Palin Steele on February 4, 2010 at 10:12 AM

Ummmm no. They’re spending, to pay back supporters. IE. unions, car manufacturers. They’re spending to insure that their political campaign coffers are full. They’re spending to insure teachers keep their jobs, insuring their support in upcoming, and future elections. They’re spending on education to expand their agenda of brainwashing kids to believe as they do. Much like yourself. Brainwashed, and doesn’t even realize it.

If you were working, paying taxes, and trying to make ends meet, I guarantee you’d see the world in a new light. You’re a pawn like all the rest of us. The difference is, we know it, you don’t.

As for treasonous lepers. Those are the people that shirk the constitution, and want to tear down our democracy, to create a tyranny. Add those that support this agenda, and you have….treasonous lepers.

capejasmine on February 4, 2010 at 11:01 AM

Chip on February 4, 2010 at 10:59 AM

But you know, Palin Steele is my new favorite leftist here. I used to like crr6 but she couldn’t pull shiite from her azz with as much panache as PS does.

Bishop on February 4, 2010 at 11:02 AM

I was asked where a communist/socialist system provided a better economic growth.

I said China which is true.

Palin Steele on February 4, 2010 at 10:35 AM

China’s economy is growing, because they have added capitalism to their economy. They are actually very savvy at it too. They’ve opened their nation to trade, and some free markets, and now they’re prospering. We’re regulating, and having everything being gobbled up by government, stifling growth…so our economy continues to choke.

capejasmine on February 4, 2010 at 11:03 AM

I love how you guys always say Obama is all talk

and yet you’re the first to harp on insignificant semantics issues

I don’t give a rats ass if Obama said ‘every’…it don’t change a damn thing. The reality is a majority of economists agree with the President.

So stop this semantic nonsense.

Palin Steele on February 4, 2010 at 9:42 AM

Um, No. The reality is with the help of the MSM this Administration can throw BS out there and the gullible will buy it hook line and sinker. I’m amazed that you and your ilk still don’t see you’re being punked. Mr. 57 States gets a pass on everything. Imagine had a Republican president uttered “57 States” … the MSM would have branded him a dolt … forever.

Take a look at the payback Dem. (laughable) projects that the stimulus money went to and you will see that millions were spent to create 0-5 jobs. I find this an insult to the taxpayers and I’m sick of the audacity of this administration.

redridinghood on February 4, 2010 at 11:04 AM

By the way Palin…..
This is what Obama promised with his 1.3 trillion dollar pay to play you call a stimulus:


THE JOB IMPACT OF THE AMERICAN RECOVERY AND REINVESTMENT PLAN

BY:
Christina Romer: Chair – Nominee- Designate
Council of Economic Advisors

Jared Bernstein: Office of the Vice-President elect
http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf

Among the key lessons from the analysis are:


. The recovery plan needs to be large to counter the tremendous job loss that is likely to occur.

…well Obama got that right…it certainly was large….on his way to spending more money than all the Presidents before him (including Bush) put together.


. The plan needs to include a range of components, such as direct government spending, state fiscal relief, and tax cuts to ensure that jobs are created quickly and throughout the economy.

Failed…..the spending has been directed to democratic pet projects and it has not CREATED the jobs it was supposed to…in fact we have lost almost 4 million since it was signed.


. The range of components is also important for ensuring that both male and female workers benefit from the program.

Fail…the American public is not benefiting…democratic leaders are.


. An aggressive recovery program is important for protecting all Americans from job loss, but
particularly for aiding those groups disproportionately hurt by the rise in the overall unemployment rate.

Fail…”protecting all Americans from job loss” has not happened…just the opposite has happened.



. A well designed recovery plan will not only create numerous jobs, but also many jobs paying
good wages and providing full-time employment.

Ultimate Fail!!!!…..Cooking the books and making instantiated claims of “jobs saved” is all the administration can attest to.
Millions of jobs have been lost…..wages are lower than they have ever been in decades…..and many full-time workers are now part time and working one week on,one week off.

The Stimulus has been nothing but a failure measured by Obama’s own parameters.

Baxter Greene on February 4, 2010 at 11:04 AM

I’ve read the comments at Ace of Spades 5 times max and even I know who Palin Steele is.

Our trolls are Rhodes Scholars compared to what they deal with over there.

Dum dum, my uncles have a machining plant in China. You can pump sulphuric acid vapor into the sky over there without much of a problem.

Chuck Schick on February 4, 2010 at 11:05 AM

Can’t we impeach this guy yet? I can’t take another three years of his crap.

winfield on February 4, 2010 at 11:05 AM

I love you guys. If there’s an upside to treasonous leprosy, this is it.

DrSteve on February 4, 2010 at 11:07 AM

It’s easy for Obama to prove how many jobs were created or saved. Give us a list of names, and we’ll go interview them.

Unless the administration is willing to do that, they’re just making crap up.

Did I mention I just saved 12 million jobs? Prove that I didn’t.

Story in Roanoke, VA- some schools got over a million $$ of stimulus money to buy iPod Touches. That money can NOT be used to cover teacher salaries, or school lunches. Instead, we’re buying a bunch of made in China products that will get stolen, broken, or tossed to the back of a closet.

hawksruleva on February 4, 2010 at 11:07 AM

A good rule of thumb to consider the truthfulness of any speaker is his use of the terms always, never, none, all, and every.

You forget one thing – Anyone listening to this Marxist is either fundamentally dishonest or (to borrow a line from the man’s chief of staff) “@$%#ing retarded”. This is why he knows he can get away with crap like this.

RightWinged on February 4, 2010 at 11:07 AM

That’s so cool! I visited Shanghai a few years ago. I love it! How long have you been there?

AsianGirlInTights on February 4, 2010 at 10:53 AM

It is an exciting place. I’ve been here just over 4 years now.

DarkCurrent on February 4, 2010 at 11:09 AM

That’s so cool! I visited Shanghai a few years ago. I love it! How long have you been there?

AsianGirlInTights on February 4, 2010 at 10:53 AM
It is an exciting place. I’ve been here just over 4 years now.

DarkCurrent on February 4, 2010 at 11:09 AM

LOL!

txag92 on February 4, 2010 at 11:12 AM

txag92 on February 4, 2010 at 11:12 AM

What’s so funny?

DarkCurrent on February 4, 2010 at 11:12 AM

We spot them over a billion people and almost double their economic output. A little perspective is necessary.

anuts on February 4, 2010 at 10:55 AM

If I may add some more perspective, it helps to understand that when you compare a number vastly lower to another the rate of growth will most likely be higher than that of the higher number. An example:

2+1=3 thus 50% growth
4+1=5 thus 25% growth

anuts on February 4, 2010 at 11:13 AM

This is what the “adults” promised the American people in passing the failed stimulus:

At the core of this bill….it’s about JOBS…
This bill is about…..JOBS….JOBS…..JOBS!!!

Mn. Senator Amy Klobuchar

We are at such an economic crises in this country and we need to look at three things in this bill……JOBS….JOBS…JOBS!!!!!

Ca. Senator Barbra Boxer

JOBS….JOBS….JOBS…That’s the paramount goal of this legislation…
…………………..This is what President Obama has talked about…this is what he promised.

Ca. Rep. Xavier Becerra

Clearly creating jobs is a paramount goal of this legislation ….

RI. Sen. Sheldon Whitehouse

Well…….did we get jobs……No…
instead we got this……..

Biden: ‘We Misread How Bad the Economy Was’

Absolutely stuck on stupid!!!

Baxter Greene on February 4, 2010 at 11:13 AM

Tapper says Obama went off-script with his remarks. What does TOTUS have to say?

hawksruleva on February 4, 2010 at 11:14 AM

Isn’t this lie (and all the other economic lies ) WORSE than “I did not have sex with that woman, Monica Lewinski.” ?

Bubba’s lie was only about himself, as disgraceful as it was. Bozo lies to the American people EVERY FREAKING DAY. iHillary wanted to impeach Nixon for only ONE. But of course gave her sleazebag husband a pass.

It’s time to impeach this guy, as much as I fear Biden’s stupidity.

dogsoldier on February 4, 2010 at 11:15 AM

But you know, Palin Steele is my new favorite leftist here. I used to like crr6 but she couldn’t pull shiite from her azz with as much panache as PS does.
Bishop on February 4, 2010 at 11:02 AM

I was wondering when one of them would finally try to bring up China – This thread will be a good reference source on that score from now on.

Chip on February 4, 2010 at 11:18 AM

“But what they fail to understand is that every economist, from the left and the right, has said, because of the Recovery Act, what we’ve started to see is at least a couple of million jobs that have either been created or would have been lost.

All these economists in Obama’s mind have “started to see” jobs created or saved in the future. Those future jobs will be created when the remaining 2/3 of Porkulus money is spent this year! Which is why we need another stimulus! And Oceania is at war with Eastasia, and allied with Eurasia, or something like that.

Those that are worried about the current 7 million lost jobs, well, that’s due to the “failed policies of the past”, which ended on January 20, 2009, aka Day I of the reign of Hussein the First.

at least a couple of million jobs that have either been created or would have been lost. The problem is, 7 million jobs were lost during the course of this recession.”

ObaMao’s Great Leap Forward. Psssst! Don’t talk about the three and a half steps backward! That never happened! Shhhh!

Steve Z on February 4, 2010 at 11:24 AM

Hey Palin….here is a source you can trust….they are also in the Newspaper business so if should be rock solid for you:

Let’s look at what Obama said about the 1.3 trillion “Pay for Play”:

That is why I have moved quickly to work with my economic team and leaders of both parties on an American Recovery and Reinvestment Plan that will immediately jumpstart job creation and long-term growth. …

Barack Obama
January 8, 2009

Sounds Great!!!!

…………Reality….UH…not so much………

Obama’s Stimulus Plan: Failing by Its Own Measure
By Stephen Gandel
http://www.time.com/time/printout/0,8816,1910208,00.html

The $787 billion stimulus plan is turning out to be far less stimulating than its architects expected.
Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn’t quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983. (See 10 ways your job will change.)

But hey, have no fear….the “adults” are in charge.

Obama decided to put his best man in charge of the economic “stimulus”….Joe Biden….

“I’m sorry I’m not an economist,” Biden said as he was describing the methodology. “My background is foreign policy and the constitution.

“Yes We Can!!!!”

Baxter Greene on February 4, 2010 at 11:27 AM

Obama: “But what they fail to understand is that every economist, from the left and the right, has said, because of the

And to prove it, they are standing right behind me. Guys, hey guys where did you go, OH SH*T.
/sarc

la.rt.wngr on February 4, 2010 at 11:28 AM

Tapper says Obama went off-script with his remarks. What does TOTUS have to say?

hawksruleva on February 4, 2010 at 11:14 AM


“He has a gift you know”

Baxter Greene on February 4, 2010 at 11:29 AM

The Democrats supported both wars as much as Bush did.

Barry’s health care deform bill was 100’s of times bigger, and not paid for either.

The tax cut was for everybody.

MarkTheGreat on February 4, 2010 at 10:18 AM

+1

And the Democratic prescription drug benefit plan was TWICE as expensive (I opposed both plans, but to act as though the Democrats were somehow opposed to it on some ‘smaller government’ ground, as they are trying to argue now, is ludicrous and disingenuous).

mankai on February 4, 2010 at 11:30 AM

For Palin Steel, and her Chinese dreams of grandeur for the U.S.

http://www.dailymail.co.uk/news/worldnews/article-1248252/Chinese-boy-chained-lamp-post-dad.html

capejasmine on February 4, 2010 at 11:32 AM

And the Democratic prescription drug benefit plan was TWICE as expensive (I opposed both plans, but to act as though the Democrats were somehow opposed to it on some ’smaller government’ ground, as they are trying to argue now, is ludicrous and disingenuous).

mankai on February 4, 2010 at 11:30 AM

The dems were only opposed to it once it was revealed as a money pit.

Jvette on February 4, 2010 at 11:33 AM

2+1=3 thus 50% growth
4+1=5 thus 25% growth

anuts on February 4, 2010 at 11:13 AM

This is a simple point many people seem to overlook when making these comparisons.

DarkCurrent on February 4, 2010 at 11:37 AM

One doesn’t have to be a psychiatrist to theorize that Obama has been lying his entire life with “the dog ate my homework” stories, has gotten away with it, and even been rewarded for it. I think he is programmed to be constitutionally incapable of telling the truth. Lying is like a reflex he can’t control.

Buy Danish on February 4, 2010 at 11:38 AM

This is the same thing as the “global warming” consensus. 100% of the economists who tell Dear Leader what he wants to hear say that he created zillions of jobs. Thus, consensus. See how it works? Just ignore any dissenting voices, and, if you can, discredit them.

mr.blacksheep on February 4, 2010 at 11:41 AM

If I steal $800 out of your pocket, then pay your rent; is that $800 of rent that wouldn’t have been paid? If I steal $850 and keep $50 are you better off than if I hadn’t been involved?

The economic damage of the spending and debt lost some jobs; how many? Does anyone bother to ask? Isn’t a “net” job creation/loss number worth more than a “gross” one?

If it costs you $10 to make a widget, you sell 1,000,000 of them for $5 did you “make $5,000,000″? If you use the Obama Jobs Saved/Created metric you sure did… oddly you’re worse off economically, but you made millions.

gekkobear on February 4, 2010 at 11:49 AM

I don’t need a survey, unlike you, I choose to believe OUR President, you treasonous leper.
Palin Steele on February 4, 2010 at 9:56 AM

Now you know why it was called “Dum-Dum” at Ace’s…

lovingmyUSA on February 4, 2010 at 11:52 AM

A better question,
Is how many jobs were lost
As business shut down?

Employers all fear
The massive debt will lead to
Massive taxation.

Who will hire people
With so much uncertainty?
So… “Jobs Saved”? My Eye!

Haiku Guy on February 4, 2010 at 11:53 AM

Well-planned? This Administration couldn’t plan a birthday party. He is spending all our money, our children’s money, our grandchildren’s money, and our great-grandchldren’s money. If brains were dynamite, you couldn’t blow your nose.

kingsjester on February 4, 2010 at 10:02 AM

Damn, I think I’m going to need another monitor before the 2010 elections if this deeps up…

lovingmyUSA on February 4, 2010 at 11:56 AM

OK so we spent 900 billion for 600 thousand porkulus jobs.
That’s 1.5 MILLION per job. Welcome to the leftist utopia.

Mark30339 on February 4, 2010 at 11:59 AM

Looks like the troll ran off to the bridge…

ladyingray on February 4, 2010 at 10:04 AM

…and got ran over by a Prius…you those brake problems the’ve been having…

lovingmyUSA on February 4, 2010 at 11:59 AM

Surprise! Jobless claims are up, again, unexpectedly.

Funny, I didn’t find that news to be at all unexpected.

hawksruleva on February 4, 2010 at 11:59 AM

Now you know why it was called “Dum-Dum” at Ace’s…

lovingmyUSA on February 4, 2010 at 11:52 AM

I think Palin Steele should be known as ‘Dum-Dum’ here too.
Is anyone opposed?

DarkCurrent on February 4, 2010 at 12:01 PM

Even if, 2,000,000 were true,

The “jobs stimulus” was $787,000,000,000.

My calculator shows: $393,500 per “saved or created” job.

And, these are the jokers, who want to manage your health care.

franksalterego on February 4, 2010 at 12:02 PM

The Hahvahd Retard In Chief strikes again!

Cybergeezer on February 4, 2010 at 12:03 PM

To say, as a president, that “most economists agree” with your position is, in a sense, to signal the lack of underlying merit to your position or your own lack of conviction in it. Confident presidents don’t try to buttress their positions in this way. It is what a pundit would say. It is unpresidential.

rrpjr on February 4, 2010 at 12:03 PM

I think Palin Steele should be known as ‘Dum-Dum’ here too.
Is anyone opposed?
DarkCurrent on February 4, 2010 at 12:01 PM

Works for me. Palin Steel and happyfeet seem to be this month’s version of Bleeds Blue and simplesimon, with even less intelligence than their predecessors.

kingsjester on February 4, 2010 at 12:04 PM

China…where economic growth is 10%.

Check. Mate.

Palin Steele on February 4, 2010 at 10:26

Oh, I remember China. The Communist country that adopted capitalist practices because it was their only alternative to collapse. Unfortunately, we’re trying to be more like Maoist China, instead of helping China walk further over to the side of liberty and freedom.

But liberty and freedom aren’t important to you, are they?

hawksruleva on February 4, 2010 at 12:04 PM

Buy Danish on February 4, 2010 at 11:38 AM

The Retard In Chief needs a bigger dog.

Cybergeezer on February 4, 2010 at 12:07 PM

or more likely, Obama simply likes to make claims that are flat-out false

that would be a definite yes…

cmsinaz on February 4, 2010 at 12:08 PM

I think Palin Steele should be known as ‘Dum-Dum’ here too.
Is anyone opposed?

DarkCurrent on February 4, 2010 at 12:01 PM

That’s crazy talk. Palin Steele is clearly an outstanding exmplar of the conservative movement. Just look at her name.

hawksruleva on February 4, 2010 at 12:08 PM

Sorry: That should be “Retahd In Chief!

Cybergeezer on February 4, 2010 at 12:09 PM

What’s the old saying… ‘If you laid every economist end to end they would all point in different directions’? You have problems getting two economists to agree on much of anything… even ‘credible’ ones. Ask ten economists their opinion of anything dealing with job creation and you will, reliably, get twelve different opinions… even the ‘credible’ ones.

China has based its growth on governmental crony capitalism and has floated bond vehicles for their Non-Performing Loans that are now coming due after their second five year period. And this time the investors in those vehicles want their money. Approximately 30% at best and 60% at worst of China’s ‘booming economy’ rests on bad debt that can’t be paid off. They did with their industrial growth what we did to our housing market, save in China the direct hand of government to support failing cronies is seen and not intermediated by levels of bureaucracy.

The Chinese economy was the second largest in the world coming into 1900. It is still the second largest economy in the world. Their economic growth has not allowed China to get into the top spot and because of the extremely populous poor in rural China you are not going to see that change until the population crash that happens in a couple of decades when the one-baby generation starts to die out. And then the question of ‘who is left to work the farms’ gets to be a very, very important one. That does not bode well for China: bad debt coming due, crony capitalism creating unsustainable industries and a generational population decline without efficient industry and depending on a poor, rural infrastructure that does not have high productivity. What part of this spells ‘rosy future and number 1 economy in the world’? I don’t see it.

ajacksonian on February 4, 2010 at 12:16 PM

Just ask either of these two Doctorates of Economy. Dr Walter Williams or Dr Thomas Sowell.

Wade on February 4, 2010 at 12:24 PM

***
I put an improved fuel injector system on my car and got 50 percent better fuel mileage. Then I put a better ignition system on it and improved my fuel mileage 40 percent. Then I installed a low back pressure exhaust system and got another 20 percent fuel mileage improvement.
***
Only problem–every week I have to drain another 10 gallons of gas out of the tank to keep it from overflowing!
***
Figures can lie–and liars can figure! Now let me tell you how many jobs I saved this week.
***
John Bibb
***

rocketman on February 4, 2010 at 12:29 PM

it isn’t true, and Obama knows it.

I am not sure he does. He seems delusional to me.

burt on February 4, 2010 at 12:29 PM

Has anyone noticed that the Stock Market is acting RETARDED today? But the RETARDED media is not reporting much of it.

Cybergeezer on February 4, 2010 at 12:31 PM

Where are the WMD, Mr. President?

Working
Men
Deployed

Where are those shovel ready jobs you said were there, Mr. President?

Obama lies.

jeff_from_mpls on February 4, 2010 at 12:33 PM

“Every economist” says I saved or created 2 million jobs

Orly! Did he talk to Thomas Sowell or Walter E. Williams and get their opinion?

mizflame98 on February 4, 2010 at 12:34 PM

Is there anything that this jerk does or says that is not repulsive?

GaltBlvnAtty on February 4, 2010 at 12:35 PM

If “retard” is out, does that mean “F**ktard” is cancelled too?

BobMbx on February 4, 2010 at 12:36 PM

Obama and his stupid (turbo stupid) economists. we found out this week of 90,000 more unemployed last year than was previously reported?

To appease Obama, you have to be a little stupid and dishonest.

The jobs Obama creates are REPO man.

seven on February 4, 2010 at 12:37 PM

Does this SFB idiot who pretends to be POTUS believe this bullcrap? Is he stupid enough to think we believe him when he says it?

BottomLine5 on February 4, 2010 at 12:38 PM

China

The American Commies keep bragging up China.

China has 50 million prisoners that work for food only Gruel of sorghum and corn.

Laogai economy. They do not get cash.
If you report your cheating employer, you get 10 years in jail.
America doesn’t report this problem.

seven on February 4, 2010 at 12:40 PM

Just ask either of these two Doctorates of Economy. Dr Walter Williams or Dr Thomas Sowell.

Oh, they don’t count. They have not been ordained by the power that is.

burt on February 4, 2010 at 12:45 PM

Obama: “Every economist” says I saved or created 2 million jobs

And “Every basketball player” says I have a sweet jumpshot.

nico on February 4, 2010 at 12:46 PM

Works for me. Palin Steel and happyfeet seem to be this month’s version of Bleeds Blue and simplesimon, with even less intelligence than their predecessors.

kingsjester on February 4, 2010 at 12:04 PM

Same trolls, change of socks.

Repeated thumpings with a ban hammer tends to diminish intelligence.

Yoop on February 4, 2010 at 12:46 PM

“But what they fail to understand is that every economist, from the left and the right…

“If all economists were laid end to end, they would not reach a conclusion.”
- George Bernard Shaw

swede7 on February 4, 2010 at 12:51 PM

Just my luck… coming late to this thread and the village idiot Palin Steele is gone…

If anyone see him, tell him that I have my Union of Young Communists membership card up for sale. It was mandatory then to apply in my country, but maybe a neo-commie moron will fork some greens to be able to smell the stench of stalinism coming out of it.

I mean, you have to be really stupid not to realize that China is pursuing free market principles, and this is what saved them from disaster.

Rookie on February 4, 2010 at 12:51 PM

Is there anything that this jerk does or says that is not repulsive?

GaltBlvnAtty on February 4, 2010 at 12:35 PM

Oh, I suspect it is going to get worse. As his poll numbers continue down the well he will have to resurrect his coolness factor with the younger group that is what is left of his base.

(WARNING: Not post-lunch approved)

Expect him staring in a suspiciously released *sex* tape. His problem will be his belief that it would help with the far left if he included Pelosi and Boxer.

Yoop on February 4, 2010 at 12:58 PM

B.O., you lie!

pilamaye on February 4, 2010 at 12:58 PM

The man is increasingly delusional. I am truly concerned about his mental status. No snark.

Mason on February 4, 2010 at 1:00 PM

Just my luck… coming late to this thread and the village idiot Palin Steele is gone…

If anyone see him, tell him that I have my Union of Young Communists membership card up for sale. It was mandatory then to apply in my country, but maybe a neo-commie moron will fork some greens to be able to smell the stench of stalinism coming out of it.

I mean, you have to be really stupid not to realize that China is pursuing free market principles, and this is what saved them from disaster.

Rookie on February 4, 2010 at 12:51 PM

Any doubt should be erased by the left wing’s epitome of ravenous, unchecked capitalism.

nico on February 4, 2010 at 1:01 PM

Sooooooooooo…

What’s been going on around here all day?

Seven Percent Solution on February 4, 2010 at 1:17 PM

Rookie on February 4, 2010 at 12:51 PM

I often wonder at what people who have had to live under a Statist system feel about Obowmao and the rest of the FarLeft national Socialists.

Over the years I’ve met a number of people who have escaped such systems and I’m sure that give an earful to the leftists that are pushing Statism on us.

Insert witty screen name here on February 4, 2010 at 1:18 PM

China…where economic growth is 10%.

Check. Mate.

Palin Steele on February 4, 2010 at 10:26

the USSR always reported economic growth of 8-12% each year. all they way up through 1989. you go right ahead and buy into growth rates provided by a totalitarian govt

chasdal on February 4, 2010 at 1:20 PM

Over the years I’ve met a number of people who have escaped such systems and I’m sure that give an earful to the leftists that are pushing Statism on us.

Insert witty screen name here on February 4, 2010 at 1:18 PM

I work with a 60-something Russian engineer who literally marvels at this stupidity. “Vy doesn’t de U.S. remember?”, he asks. “Veren’t dey paying attention?”. Apparently, not.

nico on February 4, 2010 at 1:25 PM

China’s economy is growing, because they have added capitalism to their economy. They are actually very savvy at it too. They’ve opened their nation to trade, and some free markets, and now they’re prospering. We’re regulating, and having everything being gobbled up by government, stifling growth…so our economy continues to choke.

capejasmine on February 4, 2010 at 11:03 AM

I stated a little sardonically last year, that it’s possible that China will soon be more capitalistic than we are.

MarkTheGreat on February 4, 2010 at 1:33 PM

The ONLY job Obama has ever been tasked with, and he’s screwing it up like he’s RETARDED. Especially since he’s had the benefit of a Hahvahd education.
I don’t think he can last another 2 1/2 years.

Cybergeezer on February 4, 2010 at 1:33 PM

And to prove it, they are standing right behind me. Guys, hey guys where did you go, OH SH*T.
/sarc

la.rt.wngr on February 4, 2010 at 11:28 AM

I see …. dead economists.

MarkTheGreat on February 4, 2010 at 1:36 PM

This is a simple point many people seem to overlook when making these comparisons.

DarkCurrent on February 4, 2010 at 11:37 AM

China also has the advantage of being able to replace third world factories with first world factories. The jump in productivity is enormous.

Here in the states, when we upgrade, we are replacing a machine that is 10 to 20 years old with a new one. Much smaller leap in productivity for pretty much the same investment.

(Additionally, the 10 to 20 year old machine is then sold to some third world country, for pennies on the dollar. That machine that was old to us, may end up replacing a machine that was 100 years old.)

MarkTheGreat on February 4, 2010 at 1:40 PM

I think Palin Steele should be known as ‘Dum-Dum’ here too.
Is anyone opposed?

DarkCurrent on February 4, 2010 at 12:01 PM

I’ll second that emotion.

MarkTheGreat on February 4, 2010 at 1:45 PM

That’s crazy talk.
hawksruleva on February 4, 2010 at 12:08 PM

That’s not crazy talk, this …

oh never mind.

MarkTheGreat on February 4, 2010 at 1:49 PM

“If all economists were laid end to end, they would not reach a conclusion.”
- George Bernard Shaw

swede7 on February 4, 2010 at 12:51 PM

“Give me a one handed economist, so he can’t say, ‘On the other hand’”.

LBJ

MarkTheGreat on February 4, 2010 at 1:52 PM

“If all economists were laid end to end, they would not reach a conclusion.”
- George Bernard Shaw

swede7 on February 4, 2010 at 12:51 PM

If all the Homeland Security Secretaries who fell asleep during the STFU address were laid end to end, they would be a lot more comfortable.

mr.blacksheep on February 4, 2010 at 2:13 PM

Some economists say the whole notion of counting “saved or created” jobs is impossible. Harvard University labor economist Lawrence Katz told ProPublica that trying to count how many jobs have been saved or created is “a silly exercise”

You guys don’t seem to understand why it’s a silly exercise. The reason is that 2/3 of the stimulus was dedicated to tax credits and transfer payments to states that ensured laid off workers would continue receiving unemployment checks and other benefits. This is standard deficit fighting strategy, employed by many Dem and Republican administrations in the past. By giving laid off workers a form of steady income, you enable those persons to continue buying goods and servers, preventing the ranks of unemployed from snowballing. When the unemployed continue paying bills and purchasing, many other jobs are saved. Given the size of the stimulus package, the impact on the overall economy was massive. Can you measure how many jobs were saved? It’s a silly exercise to even try and contemplate.

People seem to be getting upset at the idea Obama is claiming around 2 mil jobs as a result of the more traditional parts of the stimulus, such as public works projects and government spending (some of which doesn’t look very efficient or effective). If this is Obama’s claim, then you should be upset because there’s no evidence that the 2 mil number is realistic. But if Obama is referring more to ‘saved job’ as result of transfer payments, the exact figure of 2 mil may be debatable but it’s certainly in the ballpark. Even if it’s a silly thing to try and measure or even think about.

bayam on February 4, 2010 at 2:16 PM

Ahhh, the leftist telling us the virtues of China. I lived in China for two years. Yes it is booming economically. They have adopted capitalism while keeping a communist government

If you want a better understanding of China’s problems, take a look at the video posted by Paul Kedrosky on his blog (who happens to be a brilliant venture capitalist himself)
http://paul.kedrosky.com/archives/2010/02/jim_chanos_talk.html

bayam on February 4, 2010 at 2:21 PM

“But what they fail to understand is that every economist, from the left and the right, has said, because of the Recovery Act, what we’ve started to see is at least a couple of million jobs that have either been created or would have been lost.

Fine, champ; now provide the names of “every” economist! You’re not taking an Introduction to Economics class, so your usual handwaving B.S. won’t fly.

ya2daup on February 4, 2010 at 2:23 PM

bayam on February 4, 2010 at 2:16 PM

It’s amazing how the incredulous keep spinning the discredited for years on end.

MarkTheGreat on February 4, 2010 at 2:51 PM

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