White House: 3.8 million new jobs (CNN)

[kysrsoze]

NEW YORK (CNN/Money) - The White House forecast for job growth this year is even more optimistic than it first appeared -- a source says the Bush administration expects about 3.8 million new jobs in 2004, as opposed to the 2.6 million widely reported on Monday.

A White House source said Tuesday that the President's Council of Economic Advisers expects an average of about 320,000 new jobs to be created every month in 2004, or about 3.8 million in total. When the White House issued the Economic Report of the President on Monday, the implied job growth was reported as 2.6 million on Monday by several news organizations.

The White House source said its forecast for job growth -- which was based on data available in late November 2003 -- was not unreasonable. It assumes a 2.9 percent growth rate in payrolls, which would still be slower than payroll growth in the mid-1990s and the late 1980s.

(snip)

"Sometimes I think I'm too optimistic," said David Kelly, senior economist at Putnam Investments in Boston, who expects between 1.5 million and 2 million new jobs this year, "but I think the CEA's forecast is a big stretch."



http://money.cnn.com/2004/02/10/news/economy/jobs_forecast/index.htm?cnn=yes

Hmmm.....

[ET Awful]

1. BUAHAHAHAHA

I think the boys from the DEA sent over some of their primo confiscations to the CEA about the same time this report was written.

What a load of cowflop.

[stevedeshazer]

59. Faith-based economics

Perhaps all the born-agains can pray for job creationism. After all, God is on their side.

Sincerely,

Stevie

Born right the first time....

[proud patriot]

2. Big Fat Rassberry

:P *cough* Bullshit... Must be nice to see the world through
rose colored glasses with blinders on :eyes:

[brokensymmetry]

3. Surely from the Onion?

Not from CNN? Geeez!

[kysrsoze]

4. How on earth are they going to explain not coming anywhere near

projections by election time?

[arcane1]

9. they will lie

that's how

[okieinpain]

60. you can bet on that, they will come up with some fuzzy math,

like new home based business or some bullshit. they are not throwing those numbers out there for nothing.

[a_random_joel]

5. I forecast 20 million dollars for a_random_joel this year!

Predicting the future is fun, isn't it?

Maybe they can get that Jon Edwards guy to talk to ghosts of Presidents past too!

[RUMMYisFROSTED]

50. RiF predicts:

[porkrind]

53. Best. Sig. Ever.

Love it!!! ;)

[enki23]

so... even at the most blindly optimistic number thrown out there...

how far will that go in making up for all the jobs lost? will we go back into the black?

and how about the median income? what's that doing these days, in terms of real purchasing power?

[llmart]

6. So in one day

the predictions went from 2.6 to 3.8? WTF? What the hell are those idiots in the WH smoking? And do they really think anyone out here in the REAL world believes this shit?

[mouse7]

7. Rush has been sharing his stash at the White House

They didn't complete the quote.

They actually said, "3.2 million new jobs as badgers, badgers, badgers, badgers, badgers, badgers... and SNAKE!"

[LifeDuringWartime]

46. link

http://weebls-stuff.com/toons/21/

enjoy ;)

[randr]

8. Let's keep a record all year

That would be 11,692 new jobs each day from now on.
We could grade his performance every month.

[Birthmark]

10. I'm so pleased!!

They've raised the chocolate ration again!!! Praise Big Brother.

[KoKo]

11. Geeze! He's turned into Poppy! Poppy was becoming unhinged

in his administration about this time before the election. He made unreliable, out of touch predictions about the economy and people started to see he had no idea what the Average American was going through. He didn't have a problem with deficit spending, either.

When the Chimp brings Jim Baker in to replace one of his Cabinet and then vomits on a visiting dignitary then we know we have some bizarro thing going on! History of the Bush's repeating itself.

[Shadder]

12. Can't wait untill tomorrow

No telling what it will be then.....

[The_Casual_Observer]

13. Snow from Oct 2003

Growth in the United States in the year ahead would be about 4 percent, creating "roughly 2 million new jobs from the third quarter of this year to the third quarter of 2004," The Times quoted Snow as saying.

"I would stake my reputation on employment growth happening before Christmas. I'd bet dollars to doughnuts that we're going to see a pickup in jobs in the next few months," Snow was quoted as saying.




What happened to that fuckers reputation?

[Pale_Rider]

14. Billions, and billions of new ...

... hamburgers served daily!

[finecraft]

15. OOPS! Looks like they missed the mark in January

http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=4302101

"WASHINGTON (Reuters) - The U.S. economy created just 112,000 new jobs in January, far fewer than expected, government data showed on Friday in a disappointing report that will likely weigh on President Bush's re-election campaign."

[nostamj]

19. not 112,000... 36,000 (read this!)

http://www.nypost.com/business/17568.htm

Scroll half way down the page:

Excerpt:
The problem with the 112,000 is that most of those new jobs don't really exist.

I'll let the Labor Department explain itself in this passage from page 3 from its Friday release: "Retail trade employment increased by 76,000 over the month, after seasonal adjustments. The industry had lost a total of 67,000 jobs in November and December.

"Weak holiday hiring in general merchandise, sporting goods and miscellaneous stores meant that there were fewer workers to lay off in January, resulting in seasonally adjusted employment gains for the month."

By now my readers should have a PHD (pretty high disdain) for Capitol Hill math. This one, though, is a cake taker.

I'll translate: Included in the 112,000 new jobs in January were 76,000 jobs that supposedly exist because people who weren't hired in December couldn't be fired in January.

[CalProf]

45. Are you shitting me? The media let them get away with this?

I know statistics are worse than damned lies, but this one beggars my imagination, and even my five-year old's imagination, and he's really living in fantasyland...

[Cronus Protagonist]

16. Apparently they have another $1.6 Trillion in tax "relief" planned....

What happened? They managed to get another $1.60+ Trillion in tax relief that we don't know about?

http://bushspeaks.com/home.asp?did=123



"With a robust package of at least $550 billion in
across-the-board tax relief, we will help create
more than a million new jobs by the end of 2004."
— G. W. Bush

Source: The Whitehouse -
http://www.whitehouse.gov/news/releases/2003/04/20030426.html


"ANYBODY BUT BUSH" Buttons, Stickers & Magnets

[RobertSeattle]

17. Show me ONE White House Economic Prediction that has come true

Zero. Zilch. Nada.

[aquart]

18. Where will these jobs come from? Where will they be?

And why, dear god, would anyone be stupid enough to hand the opposition such a club to beat them with?

[The_Casual_Observer]

24. Bush said yesterday 2 jobs here 6 jobs there

it all adds up, because merica isssh a big cuntry.

[beyurslf]

20. Well they only "created" about 50,000 in Jan

so they are already behind 270,000. Maybe we will create 500,00 in Feb and make that up :)

[Lindacooks]

54. I love that!

Somebody, PLEASE, start making a running total right now, so each month we can show the world how far behind chimpy's predictions are falling, week by week, month by month.

[truthisfreedom]

21. absi-freaking-fabulous! i wonder what other magical events they have in

store for us? perhaps the discovery of an endless supply of oil, and a vent that can be opened into a giant hollow spot inside the earth where we can send all the carbon dioxide that's going to destroy the world when the greenhouse effect takes over?

[0007]

35. Perpetual Motion is the next shuck!

[Gman]

22. What the heck... go ahead and make it 20 million or maybe 50 million

It doesn't matter because not even 1 million is going to happen. All they're doing is throwing out numbers now.

They are running absolutely pale with fear and they know there's not a damn thing they can do about the economy at this late date.

[russian33]

23. You guys are all wrong...

...the White House never said what country will get 3.8 million jobs by the end of 2004...They were talking about China and India combined...

:evilgrin:

[catzies]

28. Welcome to DU, russian33!

And a big fat HAHAHAHAHA to your post.

[Fovea]

25. OPEC

just announced it is clamping down on production.
How exactly is the economy going to generate that many jobs
while gas goes up by at least 100% in the next year?

There is not going to be a spring price break, it is going to shoot up in April and continue shooting up, possibly until Sept.
So what are these new jobs going to be doing? And how are they going to afford to commute, seeing as how these are not going to be high paying jobs?

[kysrsoze]

26. righto - transportation and heating costs will skyrocket

resulting in higher prices, lower profits and less spending power.

[Rainbows]

33. 3 Million new jobs ...

Richshaws powered by the unemployed.

[0rganism]

27. Oh Yeah? I just created 5 million jobs this morning!

*poof* Right out of my farting ass!

This bullshit goes far beyond garden-variety lying, it's a delusional fantasy. I do believe they've lost touch with the (tenuous) grasp on reality that enabled them to be even mildly convincing in the past.

[bif]

29. More proof that the Whitehouse gets the best dope(s)!

n/t

[DU GrovelBot]

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[fizzana]

31. Their numbers are probably correct.

Note that they don't specify the jobs will be created in the U.S.

Here's the real breakdown

Iraq - 2 million new jobs
India - 1.2 million new jobs
China - 600,000 new jobs
other foreign countries - 500,000 new jobs
USA - loss of another 500,000 jobs.

Net result is 3.8 million new jobs created.

[CO Liberal]

32. No....8 Million....That's It - That's The Ticket!!!!!

As projected by my economic advisor ... my wife ... Morgan Fairchild ... whom I've slept with!!

:-)

[damnraddem]

34. Hmm, $240 million campaign pot,

3.8 million new jobs -- my God, he only plans to pay each campaign worker about $63!

[Thor_MN]

36. The White House will shortly be receiving emails confirming payment

to 3.8 million people, thereby proving that that 3.8 million jobs were created in the first two weeks of February alone. You get paid for having been hired. We've got some random spots of toner on paper here that are the original documents, but the email is enough. The facts are clear.

[colonel odis]

37. why do they even persist in this crap?

aside from the wmds, the guard, and bush's sundry other lies,
does he think we're going to believe all the jobs lost in the last three years will come back this year?

is the stupid or does the think we are?

[Mayberry Machiavelli]

38. Did I say 2.6 million? I meant

3.8 million! Yeah, that's the ticket!

[Cigarskunk]

39. Why are they lying?

The unemployment rate average for the past 50 years or so has been about 6% - it's currently around 5.9% - they're under the average - why make stuff up when there's no need.

Ah well, they stoled the election, may as well steal the unemployment stats. ~~>:(

[Mithras61]

41. It probably has to do with the way that the U3 numbers tend to go

from around 3.9% when he took over to 5.9% now (seasonally adjusted), but if you look at the REAL unemployment (the U6) the we've gone from 6.3% unemployment to 10.9% unemployment (source: Bureau of Labor Statistics: http://www.bls.gov/webapps/legacy/cpsatab12.htm)

[The_Casual_Observer]

44. Ho Ho Ho

Everything is great, think I'll smoke another cigar.

[Claire Beth]

40. I work with unemployment insurance

every few days another company closes. With over 20 yrs experience I have NEVER seen the amt of unemployment checks and the massive lay offs and businesses closing, EVER!!!! This is the worst administration I have ever been witness to.

[Arugula Latte]

42. This reminds me of that Dr. Seuss book

What was the one called where the guy kept saying "I can lick two tigers today!" "No, I can lick four tigers today!" (lick in the sense of a fight). And on and on.

Paging Reality...You're needed in the White House.

[teryang]

43. Half the people on my block are unemployed

Most of us lost our jobs in the last three months although some have been out of work for over a year.

[Media_Lies_Daily]

47. Lying NeoCon dogs.

[scarface2004]

48. whatever!

do i hear 4.5 million jobs...going once...

[pinniped]

61. I was gonna do an "auction" format comment too!

Totally appropriate for Wednesday's forecast.

:thumbsup:

[Catshrink]

49. Do you want fries with that?

or Would you like to supersize your order?

These are the jobs Jr. will create.

[spanone]

51. Promise them everything......Shameless

[yellowcanine]

52. 3.8 million job related activities?

Maybe Bush is going to take a page out of the WMD fiasco and claim that he created 3.8 million job related activities, even though, only 750,000 actual jobs were created. Sending out a resume would qualify as a job related activity, for example. Landing an interview also counts, even if you don't actually get the job.

[porkrind]

55. Maybe he means to draft 3.8 million ...

kids for the next war? Maybe WalMart needs an army of minimum-wage shopping cart cowboys?

Yeah, the future looks great! Today really sucks a$$, but tomorrow will be super-duper! Flying cars for everyone! Everyone will be living in the self-cleaning house of tomorrow!

:wtf:

[teryang]

57. He pre-emptively has the intent for a program

...to eventually create the risk of 3.8 million jobs.

[Desertrose]

56. Yeah, and Bush is gonna pull these jobs outta his a**, right?

They really really think we are that stupid, don't they? Like we believe them?
:wtf:


DR

[WheresWaldo]

58. BULL SHIT

nuff said...

[opihimoimoi]

62. The Math does not support the prediction.

We are losing those $70 K + jobs and replacing them with $35 or less jobs.

Bush don talk about this shit., Does he?

[radfringe]

63. it's the Pinocchio Factor

the more bush*'s number drop over concerns about job creations -- the bigger the job creation projection numbers grow....

3.8 million new jobs for this year? my fuzzy math says that bush* has to average 310,000 NEW jobs this year.

now the question is - are these new jobs suppose to be created in the USA or is it NEW jobs that are created and exported overseas?

as a friend of mine put it -- "...millions of new jobs, yeah, I know, I've got three of them just to make up for the 1 job I lost...."

[revcarol]

64. Kucinich: "In which Country???"

one of my all-time favorite Kucinich zingers.