“President Obama today said the stimulus package has already created 150,000 jobs , saying it would create another or perhaps save another 600,000 jobs over the next 100 days.”

“those are based on formulas, so that’s fuzzy math at this point. They don’t know how many jobs have actually been created.” (CNN)

“They believe this 800 billion can create jobs but they also need time.” (MSNBC)

“It’s all being paid for with the government’s 787 billion dollar stimulus bill. But critics say we can not spend our way out of this mess.” (FOX News)

As President Barack Obama refocuses on the U.S. economy, we’re tracking coverage of the one key issues – Jobs …

Is it possible to tell what the stimulus plan has already accomplished – or is it just fuzzy math?

CBS News talks with a university economist, who wants to see it to believe it.

“Instead of talking about 600,000 saved or created jobs, show me how many jobs you’re actually creating and point to them, show me the guy with the shovel in his hands.”

But while many are questioning the employment numbers, others are citing consumer confidence.

We look at opposite perspectives from Voice of America and The New York Times.

First, Voice of America’s Michael Bowman interviews an Obama economic advisor, who says the rising unemployment rate- a number based only on those seeking work- actually reflects a positive- rising confidence.

“…recent indicators showing improvement in some sectors of the U.S. economy are encouraging Americans who had stopped looking for work to re-enter the job market.”

But in the New York Times, Op-Ed contributors Sandy Lewis and William Cohan see danger in relying on emotion…

“…a capital-markets system this dependent on public confidence is a shockingly inadequate foundation upon which to rest our economy.”

So do the jobs really exist?

CNN Money’s Jessica Dickler points to an employment survey that found less hires, but also less layoffs.

The research company’s CEO summed up the findings…

“While the numbers may not be as optimistic as we would like, it is positive to see no further deterioration.”

We go back to the same New York Times op-ed piece, who says fundamentally optimism or not, nothing has changed.

“The Storm is Not Over, Not by a long shot.”

Obama and the Economy

by
0
Transcript
Jun 9, 2009

Obama and the Economy

“President Obama today said the stimulus package has already created 150,000 jobs , saying it would create another or perhaps save another 600,000 jobs over the next 100 days.”

“those are based on formulas, so that’s fuzzy math at this point. They don’t know how many jobs have actually been created.” (CNN)

“They believe this 800 billion can create jobs but they also need time.” (MSNBC)

“It’s all being paid for with the government’s 787 billion dollar stimulus bill. But critics say we can not spend our way out of this mess.” (FOX News)

As President Barack Obama refocuses on the U.S. economy, we’re tracking coverage of the one key issues – Jobs …

Is it possible to tell what the stimulus plan has already accomplished – or is it just fuzzy math?

CBS News talks with a university economist, who wants to see it to believe it.

“Instead of talking about 600,000 saved or created jobs, show me how many jobs you’re actually creating and point to them, show me the guy with the shovel in his hands.”

But while many are questioning the employment numbers, others are citing consumer confidence.

We look at opposite perspectives from Voice of America and The New York Times.

First, Voice of America’s Michael Bowman interviews an Obama economic advisor, who says the rising unemployment rate- a number based only on those seeking work- actually reflects a positive- rising confidence.

“…recent indicators showing improvement in some sectors of the U.S. economy are encouraging Americans who had stopped looking for work to re-enter the job market.”

But in the New York Times, Op-Ed contributors Sandy Lewis and William Cohan see danger in relying on emotion…

“…a capital-markets system this dependent on public confidence is a shockingly inadequate foundation upon which to rest our economy.”

So do the jobs really exist?

CNN Money’s Jessica Dickler points to an employment survey that found less hires, but also less layoffs.

The research company’s CEO summed up the findings…

“While the numbers may not be as optimistic as we would like, it is positive to see no further deterioration.”

We go back to the same New York Times op-ed piece, who says fundamentally optimism or not, nothing has changed.

“The Storm is Not Over, Not by a long shot.”
View More
Comments
Newsy
www1