One of the most asked questions of main street when it comes to Obama’s stimulus programs is: how many jobs were created with all that money?
The Obama administration gives thanks to the Reinvestment and American Recovery Act for helping American citizens survive through the current economic crisis and look forward to a brighter future. They believe without it the US economy would have been much worse.
Many people, especially congressional Republicans, believe that the stimulus plan has helped the US economy very little since the program started. It is the 10% US unemployment rate and the failed government programs that have made many individuals feel this way.
According to the White House, there have been 640,000 jobs that were either created or at risk of being terminated and saved through September 30, 2009. This number only reflects the amount of jobs that were funded directly through stimulus funds. The administration is counting the total number of jobs saved every three months, the next report is due at the end of this month.
However, the criteria the White House uses for counting jobs has recently changed. Initially, funding recipients were asked by the administration to keep tally of the jobs that were either created or saved through stimulus funding. Now the administration has told recipients that they only want them to add the number of jobs funded by the program.
The White House has also came to say that there have been more than two million jobs created by the Recovery Act, this includes all positions that were touched by stimulus funding.
These numbers that the White House announced brings another question to mind: Why does the unemployment rate continue to rise even with these amazing amount of jobs created through the stimulus program?
My name is Maurice “Moe” Bedard. I am the founder of America’s #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.