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Trick or Treat?

Title:

Trick or Treat?

Published: Fri, 30 Oct 2009

Description: Examination of White House's numbers touting benefits of stimulus plan

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Automatically Generated Transcript (may not be 100% accurate)

" angle in for -- bear on this day before Halloween the administration released figures touting the hundreds of thousands of workers it says have benefited from the president's stimulus. But is an accounting trick. Or an economic -- Senior White House correspondent Major Garrett breaks down the numbers and the -- Good evening major well good evening Jim vice president Biden said earlier today the stimulus data isn't perfect and a few moments ago. White House economist told us it probably won't ever be in there will be some permanent gaps for example the country will never know. Exactly how many jobs were saved and created just the combination of the -- created data. The -- also not know how many jobs are created the private sector versus the public sector why these gaps White House says congress and ask for that kind of information. But on a few things the White House is still pretty sure."

" Your tax dollars of war the White House insisted today the stimulus saved or created precisely 640329. Jobs. And its head. The number might -- high as a million. There's a strong in Monte avenues of recovery act he's putting people back to work it's been wonderful as a matter of fact that -- bought a new truck tax dollars also produced fiscal stimulus video narrated by White House economist Jared Bernstein. But the vice president who stood with California's Republican Governor Arnold Schwarzenegger and Maryland's democratic governor Martin O'Malley conceded that joblessness remains a crisis and it's a depression. -- of these American people the White House says the jobs saved or created so far could be full time or two part time jobs some economists are skeptical."

" You don't know what would have happened you don't know what job would have been saved all we know is some sort of some certain basic hard data. Who's employed -- how many people are employed how many people want to be working and aren't you can't measure a saved job that's that's a matter of guessing."

" Treasury Secretary Tim Geithner -- a stimulus funded project in Chicago and was asked Americans to take into the bank the stimulus job -- but here. We've -- it -- but it was number from their government that -- good numbers. But even if the White House numbers are valid it sets the pace of 80000 jobs saved or created every month since the president signed stimulus in mid February. That pails next of the two point seven million jobs lost since then and the most recent four week average of 526001. Time claims for unemployment insurance."

" I was it is we're happy it's not 580000. Front -- well. I would. The president obviously not satisfied that anybody that wants to find a job in this country can."

" To boost confidence in its numbers administration created zip code search engine on -- stimulus website at least a projects dollar spent and jobs linked to that spending. For his part Schwarzenegger said the stimulus benefits are genuine."

" Anyone be criticized stimulus money should talk to those 100000 people -- their jobs have gotten jobs not because of the stimulus money. Republican critics took a look at the 150 billion dollar spent so far in the 650000. Or so jobs created an estimated that cost 230000. Dollars -- job. The White House called that calculator abuse that overall the stimulus program the job's cost will be about 92000. That's over the two year plan they don't have a cost -- McNown Jim -- how jobs are created and at what cost currently. Back to you thanks very much major."

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