Morning Bell: 10% Unemployment Shows Objective Failure of Obama Stimulus » The Foundry

Morning Bell: 10% Unemployment Shows Objective Failure of Obama Stimulus » The Foundry: "Last week the Obama administration issued a report purporting to show that the President’s $787 billion economic stimulus plan had saved or created exactly 640,329 jobs. Such a precise number for such a fuzzy concept as jobs “saved or created” immediately raised doubts about the veracity of the report in any honest American’s mind.

And since that report was issued, a once compliant press has filed story after story tearing the credibility of the Obama administration’s job creation claims to shreds. Just enter the words “stimulus”, “jobs”, and “report” in a Google News search and these are just some of the headlines you will receive:

* Stimulus Job Report Filled With Errors
* Stimulus Watch: Salary raises counted as saved jobs
* White House Tally Appears to Overstate Stimulus Jobs
* Reports Show Conflicting Number of Jobs Attributed to Stimulus Money
* Stimulus Watchdog: job counters confused, need guidance
* Why stimulus jobs aren’t here to stay
* Many California jobs ’saved’ by stimulus funds weren’t in jeopardy

Luckily the American people do not need to count on phony new jobs studies to provide the objective data necessary to hold President Barack Obama accountable for his economic policies. The Bureau of Labor and Statistics has been collecting accepted and standardized data employment data since the 1940s. When President Obama was selling his $787 billion stimulus to the American people he promised unemployment would never rise above 7.8% and that by 2010 the U.S. economy would employ 138.6 million jobs."