Democrats insist that President Obama's $787 billion spend-o-rama stimulus has "saved" 1.5 million jobs. That's based on the latest ciphering from the Congressional Budget Office. But a peek behind their curtain reveals wizards at work.
These aren't actual jobs counted since the stimulus. What they're referring to is the same jobs forecast that the CBO issued a year ago, notes Brian Riedl of The Heritage Foundation. CBO Director Doug Elmendorf says his office has been "very explicit" about that.
Too bad Democrats have been less than candid -- if not downright dishonest.
Never mind that the pork-filled stimulus was supposed to create 3 million jobs when the economy, in fact, has lost 3 million jobs. And counting saved jobs is a tad difficult where there's nothing to show how the economy would have performed without the stimulus.
As Mr. Riedl points out, the federal estimate relies on an economic model which posits that all government spending inevitably creates jobs. But that's about as intellectually dishonest a theory as they come.
Which also explains why economists aren't blowing party horns over government's latest $18 billion jobs bill. Most in the know call it a nonstarter.
Liberals trying to clean up their economic mess with this soft soap should have their mouths washed out with it.
