The Director of the Congressional Budget Office, Douglas Elmendorf,
testified on February 13 before Congress that 750,000 jobs would be lost
in 2013 alone if Congress does not avoid the sequester cuts (source).
To put that estimate in perspective: the economy gained 741,000 jobs
between September and January 1. Per Elmendorf: The sequester cut,
reported to be $85 billion in 2013, will set us back four months of job
growth. I say, using the experience of the 2009 stimulus, that the 2013 sequester cuts will cost us zero jobs.
go to forbes.com
Showing posts with label job loss. Show all posts
Showing posts with label job loss. Show all posts
Friday, March 1, 2013
Thursday, September 6, 2012
Fibbing With GM Job Creation Statistics, Bill Clinton Edition
From Bill Clinton‘s Democratic National Convention speech, September 5, 2012
“Now there are 250,000 more people working in the auto industry than the day the companies were restructured. Governor Romney opposed the plan to save GM and Chrysler. So here’s another jobs score: Obama two hundred and fifty thousand, Romney, zero.” Wild applause.
Clinton attributes the 250,000 new jobs created to domestic and foreign auto manufacturers, parts suppliers, and dealers located in the United States to the Obama-directed bankruptcy of General Motors. Without the President’s bold and decisive action, these quarter million new jobs would not exist, and U.S. manufacturing would not have been “saved.”
Clinton gets his figures from the Bureau of Labor Statistics, which shows that U.S. auto manufacturers (both domestic and foreign owned) employed 624,400 at the time of the bankruptcy (June 2009) and now employ 789,500 — an increase of 165,100 jobs. Auto dealers employed 1,009,700 in June 2009 and 1,081,200 today — a gain of 71,500 jobs. The two gains add up to 236,600 jobs (Clinton’s 250,000).
Sorry, President Clinton. There is no way you can you attribute the 236,600 job gain to the General Motors bailout. According to the carmaker’s annual report, GM North America employed 70,000 in the United States in June of 2009 (the rest were in Canada and Mexico) and 74,500 today, for a net gain of 4,500 jobs. Of the auto manufacturing job increases, GM accounts for only two percent.
go to forbes.com
“Now there are 250,000 more people working in the auto industry than the day the companies were restructured. Governor Romney opposed the plan to save GM and Chrysler. So here’s another jobs score: Obama two hundred and fifty thousand, Romney, zero.” Wild applause.
Clinton attributes the 250,000 new jobs created to domestic and foreign auto manufacturers, parts suppliers, and dealers located in the United States to the Obama-directed bankruptcy of General Motors. Without the President’s bold and decisive action, these quarter million new jobs would not exist, and U.S. manufacturing would not have been “saved.”
Clinton gets his figures from the Bureau of Labor Statistics, which shows that U.S. auto manufacturers (both domestic and foreign owned) employed 624,400 at the time of the bankruptcy (June 2009) and now employ 789,500 — an increase of 165,100 jobs. Auto dealers employed 1,009,700 in June 2009 and 1,081,200 today — a gain of 71,500 jobs. The two gains add up to 236,600 jobs (Clinton’s 250,000).
Sorry, President Clinton. There is no way you can you attribute the 236,600 job gain to the General Motors bailout. According to the carmaker’s annual report, GM North America employed 70,000 in the United States in June of 2009 (the rest were in Canada and Mexico) and 74,500 today, for a net gain of 4,500 jobs. Of the auto manufacturing job increases, GM accounts for only two percent.
go to forbes.com
Subscribe to:
Posts (Atom)