White House claims one million jobs saved

The WSJ reports:

The White House Council of Economic Advisers said Thursday the $787 billion stimulus plan kept one million people working who would otherwise not have had jobs. . . The report, which had been delayed for a month, is the first estimate from the Council of Economic Advisers on the issue of whether stimulus spending has saved jobs that otherwise would have been lost. . .

The council said it compared current economic indicators to projections of the direction they were headed before the stimulus plan was passed.

What an unadulterated load of crap. Here is a comparison of where the economy was headed before the stimulus (by the Obama administration’s own analysis) with where it went:

stimulus-vs-unemployment-august

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