Tags: obama | jobs | bill | economists

WaPo: Economists Don't Agree on Obama Jobs Bill

Wednesday, 02 Nov 2011 09:35 AM

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President Barack Obama’s reelection team is being a bit “overenthusiastic” in the claims it making about jobs creation, The Washington Post concluded in a fact check.

Obama’s senior campaign strategist David Axelrod recently said that “all economists agree” that the American Jobs Act “would have a marked effect on economic growth and would create millions of jobs.”

“We’ve never known economists to agree on anything,” the Post noted.

While a number of economists have said the jobs bill would create more than a million jobs, others have pegged the number of jobs to be created in the hundreds of thousands.

“Five economists, in fact, said no jobs would be created—and one said only 1,000 jobs would be added or saved in either 2012 or 2013,”  the article states. “Two economists even said at least 300,000 jobs would be lost in 2013, after some job growth in 2012.”

The Post concluded that of the 30 estimates it could find on jobs growth and the president’s bill only nine even “crossed the million-job threshold over a two-year period.”

“Maybe in baseball a .300 average is considered good. Axelrod could have avoided this rating with a little more modesty about the job-creation figures--which, after all, depend heavily on assumptions and estimates in the first place.”



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