Diary

The Incredible, Shrinking Jobs Forecast

Just like President Obama’s income threshold for those who would see tax increases under his administration’s plans – which went down, down, down, by the day – the promised number of jobs that will be “saved or created” by the President’s economic stimulus bill has been quietly revised downward.

Last night, at a gala to honor Honest Abe Lincoln, President Obama said the following:

“I want to thank the Democrats and Republicans in Congress who came together around a hard-fought compromise that will save or create more than 3.5 million jobs.”

Compare that to the president’s prime-time press conference from Monday when he said that his “bottom line” was that the package had to save or create 4 million jobs. It appears that the president’s stimulus bill is actually losing jobs before it is even enacted. Half a million jobs lost in just four days.

Do I hear 3 million…2.5?