ODrama has no respect for truth in numbers-The Jobs Gap

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Morning Bell: The Obama Jobs Gap Posted June 9th, 2009 in Enterprise and Free Markets.
Last Friday the Bureau of Labor Statistics released its monthly job report showing that the economy lost 345,000 jobs in May. This brings the total number of jobs lost in the first full three months since the economic stimulus package was passed to 1.5 million jobs. Countering these inconvenient truths, President Barack Obama and Vice President Joe Biden unveiled a new “accelerated” “roadmap to recovery”, which the AP dryly notes “is neither new nor accelerated.” Officially, the Obama administration claims their stimulus plan has already “saved or created” 150,000 jobs, but even that number is fuzzy: This Sunday on CNN, Obama adviser David Axelrod claimed the stimulus “has produced hundreds of thousands of jobs.”Even Democrats are beginning to question the integrity of the Obama administration’s economic claims. Grilling Obama’s Treasury Secretary, Sen. Max Baucus (D-MT) said:
You created a situation where you cannot be wrong. If the economy loses 2 million jobs over the next few years, you can say yes, but it would’ve lost 5.5 million jobs. If we create a million jobs, you can say, well, it would have lost 2.5 million jobs. You’ve given yourself complete leverage where you cannot be wrong, because you can take any scenario and make yourself look correct.
...“saved or created” jobs game is a fool’s errand. They will always just re-tweak their formulas to come up with fake numbers to justify their policies. ...an objective metric to cut through the mendacity... matching the Obama administration’s past promises to past BLS data, a clear jobs baseline emerges. When the Obama administration first unveiled the stimulus plan in November they claimed it would create 2.5 million jobs by the end of 2010. At the time BLS reported that U.S. economy employed about 136.1 million jobs. But by January that number fell to 134.6 million jobs. Not so coincidentally, the Obama administration upped the job creating magic of the stimulus to 4 million jobs by the end of 2010.... a commonality between these two sets of numbers? There sure is: 136.1 million plus 2.5 million equals 138.6 million; and 134.6 million plus 4 million equals 138.6 million. Voila: the objective, Obama administration created, BLS data verifiable, jobs accountability number is 138.6 million. According to the BLS the U.S. economy currently employs 132.2 million people. In order for President Obama to meet his promise to the American people, between now and the end of 2010, the U.S. economy will have to create 6.4 million jobs. The President had better get busy.///
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Tech cos enlist Democrat to blast Obama tax plan By Kim Dixon -WASHINGTON (Reuters) - A group of technology heavyweights...enlisted a former Clinton administration economist to beat back President Barack Obama's plan to boost some taxes on overseas profits.... who wrote a report released on Monday arguing that significant jobs losses could occur under Obama's plan.... Obama introduced a proposal to raise $210 billion over a decade in part by tightening tax rules on income earned abroad. The administration says current policy spurs job creation overseas, while U.S.-based multinational companies say precisely the opposite is true....Current law allows companies to defer income tax until they bring the income back into the United States, for example, in the form of dividends.Companies can take deductions on expenses linked to income earned abroad immediately though. Obama wants to require companies to delay deductions until the foreign income is claimed....When introducing Obama's deferral plan, a senior Obama administration official said the goal is to spur a company to locate a plant in Michigan instead of Malaysia....(Another economist) said she doubts the Obama administration's argument that his tax changes will save or create jobs, though and said "it is possible that it could decrease jobs."...The top U.S. corporate tax rate of 35 percent is among the highest in the world, though Obama officials say that with deductions and loopholes it is effectively much lower, at about 20 percent. "The reality now is that companies pay very little in U.S. taxes," the senior Obama administration official said.****How anyone with commonsense can argue that complicated deductions and "loopholes" make a tax code more fair is mind-boggling. Politicians, of course, insert loopholes to benefit supporters and staff members love this as an entre to private sector jobs after service to exploit the loopholes that few understand or even know about. While it does seem to make sense to correlate deductions to the repatriation of profits, it is inescapable that extending the heavy hand of government to off-shore operations will simply drive companies to headquarter themselves in more hospitable places like Ireland and the Caribbean and to expand their non-U.S. operations at the expense of domestic ones. How is this good for jobs in the U.S.? Obama seems to think coercion works and that the coerced have no recourse ...but they have. The punitive measures to prevent giving up individual American citizenship don't apply to global corporations. *****