Wednesday, September 14, 2011

The PJ Tatler » White House refuses to predict number of jobs that will be created by new “jobs bill”

Via PJ Tatler. The PJ Tatler » White House refuses to predict number of jobs that will be created by new “jobs bill”:
This was uncomfortably discussed yesterday at the White House briefing room by Obama’s budget chief Jack Lew. Asked directly by reporters, Lew specifically refused to say how many new jobs would be created by the new jobs program. Here is his exchange with one reporter in the White House briefing room:

“Q How many jobs will be created with this plan?

MR. LEW: We have not put out an official administration estimate –

Q Why not?

MR. LEW: Well, we just don’t do official job estimates. And –

Q Do you have numbers?”

Lew and later press secretary Jay Carney steadfastly refused to get stuck with any job creation numbers. They did so because they have been previously burned by White House chief economist Christine Romer who had predicted that unemployment would be below 8% if the original $850 billion stimulus was passed. At one point Romer actually claimed the jobless number could actually fall as low as 6.8%.

Unemployment now is above 9.1%, a number the White House admits will not fall before the next Presidential election in November 2012.

Echoing this sentiment Lew told reporters, “So my own view is and always has been that it’s a dangerous thing to try to pinpoint predicting unemployment rates.”

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