CHESSNOID

This is how you lose credibility.  You promise one thing like 4.1 million jobs and you deliver much less like 650,000 jobs.  By the way, that is half the money already spent.  So at that rate you create a total of 1.3 million jobs.

NY Times:

The 14-page report, prepared by Christina D. Romer, who is Mr. Obama’s selection to lead his Council of Economic Advisers, and Jared Bernstein, an economic adviser to Vice President-elect Joseph R. Biden Jr., provides specific examples for the first time of the types of jobs that could be created, including a detailed industry-by-industry breakdown.

Mr. Obama said his plan could create about 500,000 jobs by making new investments in clean energy, doubling the production of alternative energy over three years and improving the energy efficiency of government buildings and homes.

The president-elect said building solar panels and wind turbines and developing fuel-efficient cars would create “made-in-America jobs” that could not be outsourced.

The report also suggested that nearly 400,000 jobs could be created by building and repairing roads, schools and bridges. More than 200,000 jobs could be created in health care, particularly by creating a nationwide system of computerized medical records.

Some conservatives argue that jobs that exist only as a result of temporary government spending should not be viewed as providing real, long-term growth. On Capitol Hill, lawmakers are engaged in vigorous debate over how best to stimulate the economy and to create jobs. Some Democrats say Mr. Obama’s plan would be more effective if it were to focus fewer dollars on tax cuts and more on government spending, especially in the energy sector.

Some top Republicans, meanwhile, are pushing for even broader tax cuts. “We want to make sure it’s not just a trillion-dollar spending bill,” said the Republican leader, Senator Mitch McConnell of Kentucky, “but something that actually can reach the goal that he has suggested.”

Obama transition officials have said that the president-elect’s proposed middle-class tax cut — called “Making Work Pay,” which would provide $500 for individuals and $1,000 for couples by reducing payroll tax withholdings — is “nonnegotiable.” Mr. McConnell is pushing an alternative that would cut the tax rate for most middle-income workers, to 15 percent from 25 percent.

In the campaign, Mr. Obama vowed to create one million jobs, and after winning election he put forth a plan to create up to three million. The report now puts the figure at roughly 3.7 million, the midpoint of an estimated range of 3.3 million to 4.1 million jobs by the end of next year.

The reality is an ugly truth. The Obama administration has spent 150 billion dollars and only created 650,000 jobs with it the average cost of $230,000 per job. See my last post.

Then you have his economic idiots in denial claiming we are on track.

WASHINGTON (CNNMoney.com) —

The largest stimulus program in the nation’s history has created or saved at least 650,000 state and local jobs, according to a report released by the Obama administration on Friday.

…..

“We’re solidly on track to create or save 3.5 million jobs by the time this program winds down,” administration economist Jared Bernstein told CNN on Friday. “There’s a lot more ammunition in that Recovery Act. The stimulus package is absolutely working, both in GDP terms and in terms of saving or creating jobs.”

Yes, both the L.A Dodgers and Angels had a chance to go to the World Series. Now we know looking back that the Dodgers, Angels, and Obama’s economic team will not reach their potential. They have all failed to deliver their championship potential.