Thursday, October 22, 2009

Not Lookin' Good

Way back through the murky mists of time, when the Obamadministration was pushing the "stimulus" bill, they made projections about job creation. We all remember that they said without the "stimulus" unemployment might get over 8%--- of course, with it, we're pushing 10% nationally so ya know their numbers were totally out-to-lunch.

But, hang on, it gets worse. The White House projected, indeed promised, that passing "stimulus" would result in the creation of 3,460,000 additional US jobs by the end of 2010. We used to call such projections, in my former career, a SWAG. SWAG being defined as Sophisticated Wild Ass Guess.

The brain trust in Obamaland on Pennsylvania Avenue and environs in DC gave us a SWAG of almost 3.5 million net new jobs through the end of 2010. One big problem with that: since stimulus passed we've lost 2,708,600 more jobs. 49 of the 50 states have seen net job loss since the bill passed. (North Dakota has a net gain of 1,800, the only state not in the loss column.)

So, now we need to create 6,168,600 jobs in America in the next 15 months to get to that lofty projection from the green eyeshade boys in DC. That's 411,240/ month starting this month. Pretty tough to do-- and even tougher considering we haven't had even one positive jobs month yet since Obama took office.

There are some Republicans in DC tracking the numbers.