O's 'faith-based economics' (OneNewsNow.com): "Last year, White House economists claimed that the $862 billion stimulus would create 3.3 million jobs. Since then, the nation has lost more than 3 million jobs.
That's a 6.3 million jobs gap. By the White House's own standards, the stimulus failed.
So President Obama has shifted his argument. Sure, the economy lost jobs, he concedes -- but without the stimulus, it would've lost nearly 2 million more jobs.
This is nothing but faith-based economics. The White House estimate of 'saving' nearly 2 million jobs is based not on observations of the economy's recent performance -- but merely on the administration's unshakable belief that deficit spending must create jobs and growth."
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