Friday, October 30, 2009

650k

For those wags in the media (you know, assholes like Paul Krugman and other various acclaimed and Nobel winning economists) who spout their opinions about how the bailout and stimulus didn't focus enough on regular people, was to loaded with tax cuts a measure that didn't work at the behest of Congressional idiots, was too small, and hasn't created nearly enough jobs, then the Government has just one number to show you: 650,000. As in 650,000 jobs. Or basically the amount of jobs that will be wiped out in the next two months. Probably more like a month and a half.
About 650,000 jobs have been saved or created under President Barack Obama's economic stimulus plan, the White House said Friday, saying it is on track to reach the president's goal of 3.5 million jobs by the end of next year.

New job numbers from businesses, contractors, state and local governments, nonprofit groups and universities were scheduled to be released publicly later Friday. White House economic adviser Jared Bernstein said the figures will show that, when adding in jobs linked to $288 billion in tax cuts, the stimulus plan has created or saved more than 1 million jobs.
3.5 million jobs? .....That's certainly a goal all right. So how are they going to do it? I think you'll like it. See they took out credit default swaps against any catastrophic losses in the economy. The tanking job market as well as the first 2 quarters of negative GDP growth means that financial giants are going to have to pay out nearly 3.5 million jobs cover the swaps the government took out on the economy. It's a shame that we saw growth in the 3rd quarter or we really could have gotten a killer job payout.

Just kidding, they think it's going to happen by magic.

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