NYC Letter: "Encouraging Signs"

Day 144 of CHOPE

We need desperately to get this economy moving. We've got to create more jobs now.

Joe "Hi-Q" Biden,
then-VP-elect and soon-to-be stimulus policeman,
emphasizing the Obama presidency's top priority
December 23, 2008 (FNC)

OBAMA AGAIN RAISES ESTIMATE OF JOBS
HIS STIMULUS PLAN WILL CREATE OR SAVE

WASHINGTON January 10, 2009 (NYT) - One day after the nation’s unemployment rate was reported to be at a 16-year high, President-elect Barack Obama on Saturday again raised the estimate of how many jobs would result from his economic recovery plan, saying it would create or save three million to four million, nearly 90 percent of them in the private sector.

... Without an economic recovery plan, the report [Job Impact Of The American Recovery And Reinvestment Plan, January 9, 2009] warned, the unemployment rate could hit 9 percent, up from 7.2 percent now. If the plan is adopted, unemployment is still expected to rise but then fall late this year.

... In the campaign, Mr. Obama vowed to create one million jobs, and after winning election he put forth a plan to create up to three million. The report now puts the figure at roughly 3.7 million, the midpoint of an estimated range of 3.3 million to 4.1 million jobs by the end of next year.

That was all of $787B ago.

Well, this morning we received another reminder of the challenges facing working families: the nation's payroll contracted again last month -- 345,000 jobs -- and the unemployment rate rose to 9.4 percent, the highest jobless rate in almost 26 years.

... Analysts, as you all know -- and many of you are reporting -- expected that we'd lose more than 500,000 jobs in May. Instead, we lost $345,000 [sic] -- 345,000 jobs, nearly a third fewer than were expected. That's the lowest number of job loss since this past September, and the fourth month in a row that we're shedding fewer jobs than the month before.

... And I'm pleased that today's report shows some signs -- some signs that all this activity is having this desired impact. Construction unemployment, for example, is down 59,000 jobs in May, cutting in half the average of 125,000 jobs lost each month over the first four months of this year. And so there is some direct signs that what we're doing is having an impact.

... To sum it up -- encouraging signs, but a long, long way to go. Thank you all very much.

Joe "Stimulus Cop" Biden,
pleased to explain how continued job losses
and record unemployment are good news in Team Barryland
WASHINGTON June 5, 2009 (White House)

On Friday we learned we had lost an additional 345,000 jobs in the month of May. Now that was far less than expected, but it's still too many. ... Having said that, this was the fewest number of jobs, ah, that we have lost, ah, eh, in about eight months. So it was about half of the number lost just a few months ago.

And it's a sign that we're moving in the right direction.

Mr. Obama,
explaining how the half-empty employment glass
is still brimming with his 150,000 "saved*
or created" stimulus jobs**
June 8, 2009 (YouTube/Bloomberg)

Mr. Obama got his stimulus plan in February. February job losses were 651,000, March 663,000, April 539,000, May 345,000. That's 2,198, 000 jobs lost with Mr. Obama's stimulus in place. Where are Mr. Obama's four million jobs? Where are his one million jobs? [Pause.] Team Barry wants you to believe a trend of job loss is an "encouraging sign", a sign that Team Barry is moving America "in the right direction". Team Barry doesn't even bother forecasting job creation anymore. Oh! Wait! Six hundred thousand created or "saved"* jobs coming up! It's like a beautiful magical fairy tale come true. Oh no, wait. It's a fairy tale, but not true.

[Mr. Obama] concentrated in his remarks on the billions of dollars from a taxpayer-funded plan that will be disbursed this summer, although much what he was described was already in the works, spurring new debate about just how much the $787 billion stimulus plan is helping so far.

Team Barry invents its recovery out of counter-indicative "signs" and "solid hints". Actual substantive results are nowhere to be found.

[Pause.] Apparently Team Barry thinks you are just this stupid.

Here is a helpful visualization*** exposing the enormity of Team Barry's failed job creation policies.

THE NEW JOBLESS ECONOMY
The Right Direction
View Video Here

Here is another.

BEYOND THE 9% CEILING OF NO STIMULUS
Bluesky Unemployment In Team Barryland
[Original graphic source: Job Impact Of The American
Recovery And Reinvestment Plan]

CHOPE.

Two million jobs lost. Record 26-year high unemployment. Encouraging.

------------------------------------
* There is no metric for "saved" jobs (and this).

*** Here is another penny presentation exposing Team Barry's microscopic budget cuts.