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Editorial See other Editorial Articles Title: Pelosi Flub: 500 Million Americans to Lose Jobs Each Month So anxious was Madam House Speaker to sell the stimulus boondoggle bill, she flubbed the numbers. Five hundred million people will lose their jobs each month until we have an economic package, she warned. Chris Wallace of Fox News corrected her. WALLACE: No, 500,000. PELOSI: What did I say, million? WALLACE: Yes, 500 million. That would really be a recession. PELOSI: Oh, no. Excuse me. Thank you for correcting me. WALLACE: Yes. PELOSI: It feels like 500 million. Five hundred thousand Americans will lose their jobs each month until we have a recovery package. Obamas folks claim the stimulus bill will create jobs, not save 500,000 jobs per month. Christina Romer and Jared Bernstein, now top White House economic advisers, said a plan roughly similar to the House-passed version would yield 3.3 million to 4.1 million jobs by late 2010 that wouldnt otherwise exist but added a catch, reports the Associated Press. So, whats the catch? They made up the rule of thumb figures. There is considerable uncertainty in our estimates, Romer and Bernstein admitted. Job creation figures are hard to estimate precisely. The projections are delicate, that is to say easily contested. On January 21, economist Mark Zandi predicted the House bill would create 4 million jobs, based on assumptions that all its money would be spent by the end of 2010. Soon thereafter, the Congressional Budget Office projected that more than one-third of the bills spending and tax cuts would not occur until after 2010, so Mr. Zandi revised his rule of thumb job creation estimate to 3 million. If challenged again, will Zandi drop his estimate to 2 million? According to Joel Prakken, chairman of Macroeconomic Advisers, the so-called economic stimulus package will do nothing to prevent unemployment. Prakken said he expected Fridays comprehensive payrolls report issued by the government to show a drop of about 500,000 jobs for the month of January. It is too late to prevent another significant rise in the U.S. unemployment rate, he said. He added that he expected about 3 million job losses over the next 12 months. Romer, Bernstein, and Zandi are side-stepping the real issue unemployment will continue until the credit machine begins working again and the mortgage default and foreclosure problems are adequately addressed. Not that they will be. Because the liquidity crisis was manufactured by the bankers. I suspect that part of what were seeing in the freezing up of lending markets is strategic behavior on the part of big financial players who stand to benefit from the bailout, David K. Levine, a liquidity constraints and game theory economist at Washington University in St. Louis, told Bloomberg last September. In other words, the bankers created the crisis in order to fleece clueless taxpayers. In addition to fleecing the taxpayers under false pretense, the manufactured economic crisis is a great way to push for world government, something long dominating the wish list of the bankers and their functionaries like Gordon Brown, Dominique Strauss-Kahn, Nicolas Sarkozy, Tony Blair, Angela Merkel, and others. Finally, even Obama admits the current stimulus scheme will not fix the economy. He admitted as much on January 31 during his weekly radio address. No one bill, no matter how comprehensive, can cure what ails our economy. Thats because what ails our economy was manufactured. If 5 million or 500,000 people lose their jobs each month, you can bet it was planned that way.
Poster Comment: Wallace did correct her and she said she meant 500,000 a month.
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#9. To: christine, ALL (#0)
(Edited)
Screw you Pelosi and your bankster/CEO giveaway. GIVE US OUR DAMNED 7% SOCIAL SECURITY THAT YOU'VE STOLEN FROM US ALL OUR WORKING LIVES...GIVE IT *ALL* TO US AS A LUMP SUM...AND DO IT NOW...WITH INTEREST..JUST AS THE IRS DEMANDS. Someone say
R E V O L U T I O N????????? If not now, when?
That is a DAMN good question. Liberty is being gang raped and all we do, like our parents in the "greatest generation," is sleep.
When? This weekend is good for me. Supposed to be up in the 60's. Good revolution weather and as good a day to die as any other day. That was NOT sarcasm. Its coming. We all know it. Only God knows when. If you don't believe in God, then make an educated guess. I gave up guessing long ago. I was ALWAYS wrong.
"It's a good day to die." I must have some Klingon blood. :-)
I must have some Klingon blood. :-) Or Sioux :)
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