3 million jobs created well not yet
Nov 1st, 2009 by David Anderson
Would you believe a million? Would you believe 650,000? Would you believe 650,000 saved or made? Okay we admit that is” not 100 percent accurate” either said VP Maxwell Smart Biden. One example is the California San Joaquin Rail Commission reporting 500 new jobs then 250 then 125, and now 74 at a cost of $5,000,000. Imagine if it had been 500 jobs, what would they had been paid. Unfortunately most jobs cost a lot more. ABC pegs it at 160k a job, but that does not include any matching funds. The White House blasted ABC, I guess they are the new Fox.
How about we just conclude that the CBO was right. The GOP stimulus would have given us 10 times the jobs with 1/2 the price tag. Let’s revise it and move forward. The current course will give impetence to the mood that Peggy Noonan sees.
The new economic statistics put growth at a healthy 3.5% for the third quarter. We should be dancing in the streets. No one is, because no one has any faith in these numbers. Waves of money are sloshing through the system, creating a false rising tide that lifts all boats for the moment. The tide will recede. The boats aren’t rising, they’re bobbing, and will settle. No one believes the bad time is over. No one thinks we’re entering a new age of abundance. No one thinks it will ever be the same as before 2008. Economists, statisticians, forecasters and market specialists will argue about what the new numbers mean, but no one believes them, either. Among the things swept away in 2008 was public confidence in the experts. The experts missed the crash. They’ll miss the meaning of this moment, too.
