By the time most of the money is “spent,” the re­ces­sion is long over.

The Washington Times Weekly - - Commentary -

Just how it was do that was not clear, but of­fi­cials said it would “save or cre­ate” 600,000 jobs in the next 100 days.

Not full-time jobs nec­es­sar­ily, but tem­po­rary part-time jobs. Or as Mr. Bern­stein told CNBC on June 8: “The 600,000 jobs are full-time equiv­a­lence, mean­ing that if there are two part-time jobs, they count as one full-time job.”

Then there is the ques­tion of how much of the $800 bil­lion in stim­u­lus money been spent so far. Pressed to come up with hard num­bers, Mr. Bern­stein mighty $14 tril­lion econ­omy out of its re­ces­sion.

How much more will be ob­li­gated or spent this sum­mer to meet the White House’s 100-day jobs goal? “We’re un­able to make that es­ti­mate at this point,” Mr. Bern­stein says.

But back to Mr. Obama’s 150,000 jobs claim. Keith Hall, com­mis­sioner of the La­bor Depart­ment’s Bureau of La­bor Statis­tics — whose job it is to count the num­ber of jobs there are in the econ­omy — was asked at a Joint Eco­nomic Com­mit­tee hear­ing last Fri­day if he could sub-

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.