Earlier this week, The Associated Press reported that the official count of "created or saved" jobs from the $787 billion stimulus was 25,000. It's amazing what you can do with numbers.
Obama released figures from his economic team stating that more than 40,000 jobs have been "created or saved" in Pennsylvania by passage of the stimulus bill, according to Pitts.
Nationwide 650,000 jobs have been "created or saved" at the cost of approximately $1.2 million each, Pitts says. Economists agree that the figure of jobs "saved" is misleading and is not a legitimate economic measure, Pitts says.
Pennsylvania has lost nearly 200,000 jobs in just the past year alone. Nationwide, more than 15 million Americans are out of work. The unemployment rate in the U.S. stands at a 27-year high.
Rep. Pitts' statement follows:
"Once again the administration is claiming that the wasteful $787 billion stimulus bill has 'saved' a distinct number of jobs. The White House has produced a number that is meaningless. There is no way to count jobs that weren't lost. I could just as easily come up with a formula to count the jobs that have been lost due this Administration’s policies on energy, health, and taxation.
"The truth is, unemployment is nearly two percent higher than the President projected. The administration’s website right now shows only one job saved in the entire 16th Congressional District. I understand that these numbers may be updated later today but they certainly won’t change very much. Right now this website shows that one job was created at the cost of $277,000 in government contracts.
"The government cannot create jobs, but it can make is easier or harder for employers to increase their payroll. With job-killing tax hikes in health care reform and the energy legislation being considered in Congress right now, how can we expect employers to invest in their business with confidence?"