Right Wing Finance

Eager to spend even quicker amid the highest unemployment rates in 25 years, Obama promised today to “create or save” 600,000 jobs.

Leaving aside the ridiculousness of the unverifiable claim to “save” jobs, he’s essentially promises to lose 1.5 million jobs. Since Obama took office, the economy has shed over 2 million jobs. How is replacing a quarter of the lost jobs going to significantly effect the economy? He’s basically saying he’ll creating (or save) as many jobs as were lost in April!

During a press event, Obama said:

“We’ve done more than ever, faster than ever, more responsibly than ever, to get the gears of the economy moving again,”

sadly, he’s done just the opposite. He’s spent more than ever, faster than ever, and less responsibly than ever, but to grow the government bureaucracy, not to get the “gears of the economy” moving again. If he wanted to do that, he would have created incentives for the private sector to create and keep jobs, and not nationalized the auto industry.

Think about it – if we take him at his word, those 600,000 jobs will cost tax payers $1,311,666 each! But we clearly cannot take him at his word:

“Obama initially offered his stimulus plan as a way to put people back to work, a promise that 3.5 million jobs would be saved or created. The administration’s predictions that unemployment would rise no higher than 8 percent already have been shattered.”

It’s becoming clearer to me everyday that this man has no idea how free market capitalism works, and that he saw the recession as little more than a political opportunity to grow government and bilk future generations of tax payers. He’s done more damage to the economy than any recession could.

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