White House hypes jobs stimulus results

The Huffington Post reports: Job Stimulus Results: White House Claims ‘Stunning’ Two Million Jobs Saved Or Created. It states:

the report from the President’s Council of Economic Advisers said the economy is a lot better off than it would have been without the stimulus. Citing its own analysis plus a range of private sector summaries, the council estimated the annual growth rate last year would have been roughly 2 percentage points lower, and there would have been 1.5 million to 2 million fewer jobs.

So this is based on a projection of what might have happened without the stimulus in place, something that is probably tricky to model, and impossible to prove (without a time machine). But if the “range of private sector summaries” were done independently, a positive consensus would indeed be a promising sign.

Here are some other analyses that paint a different picture:

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  1. on January 14, 2010 at 9:59 am