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Job Gap Grows to 5 Million between Administration’s Stimulus Rhetoric and Reality

February 23, 2010

The chart below compares Administration predictions of job creation with the reality of what has actually happened since passage of Democrats’ 2009 stimulus law. It shows a current gap of 5 million between the number of jobs the Administration promised and the harsh reality American workers and families are experiencing. Unless robust job creation starts immediately, the gap between the Administration’s rhetoric and reality will grow to 6 million or even 7 million jobs by the end of this year. Small wonder that more Americans believe Elvis is alive than that “stimulus” has actually created jobs.

Adding insult to job loss, the Economic Report of the President released this month continued to contend that 1.8 million jobs have been “created or saved” to date (see Figure 2-14). Undeterred by the huge hole they have dug for themelves, the Administration is likewise convinced that “We’re on track to meet or beat our goal…by the end of this year.”

Source: January 2009 Romer/Bernstein Report and Ways and Means Republican Staff calculations based on Department of Labor data.