Jobless In America

Good news, New Hampshiroids!  Hogzilla "saved or created" 11.6% of the jobs Red Barry promised you!:

The Obama administration estimated that their stimulus package would “save or create” 16,000 jobs in New Hampshire this year, and spent over $407 million to do so.  As part of their participation in Porkulus, each state has to report back to the federal government the number of jobs “saved or created” using an OMB formula that takes the number of hours worked from Porkulus contracts and grants, and divides them by the number of forty-hour work weeks from 2/17/09 (when Porkulus went into effect) and 9/30/09.  The state of New Hampshire has reported the results after having spent most of the funds, and the result is dramatically less than expected:

Jobs Contracts Approved 093009

 

In short, using the calculation the OMB provides, Porkulus “saved or created” 3,007 jobs. With the money spent on Porkulus until now, that comes to a cost of $135,450 per job — and that’s not even for a full year.  In fact, using a full-year calculation, as New Hampshire’s Director of the Office of Economic Stimulus suggests, the actual number of full-time job equivalents “saved or created” drops to 1,862.  At that number, each job will have cost $218,742.

Or anywhere from approximately 20% to 25% the job creation rate of the private sector, had $407 million been left in New Hampshire to create REAL jobs.  As it is, only 11.9% of the 11.6% even ARE real jobs, the remainder being another layer of parasitical public sector leeches, which will be bleeding Granite State taxpayers even whiter after their federal funding turns back into pumpkins at fiscal midnight.

Dudes, when even Carol Insufferable-Intolerant-Tyrannical-One-Term-Douchebaggerous-Cunt-Shea-Porter is retreating from this towering embarrassment, you can start writing the political toe-tag for Red Barry's lone legislative "accomplishment".

Oh, but this is just an outlier, right?  New Hampshire's sour experience with Keyensian waste, fraud, and Democrat graft must be the exception that proves the rule, no?

Uhhhhh....:

The table below compares the White House’s February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, forty-nine States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs.

But, but, but think how many MORE jobs we would have lost if Godbama hadn't acted when he did.  HUH?  WHAT ABOUT THAT?!?

Not Just the national backdrop of such bleak green-shooted, depressionary misery booming prosperity that the ObamaHouse wanted.  And it's getting even worse better!:

The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, after falling in five of the past six weeks, as employers remain reluctant to hire even with the economy showing signs of recovery.

The Labor Department said Thursday that new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters.

Economists closely watch initial claims, which are considered a gauge of layoffs and an indication of companies’ willingness to hire new workers.

The four-week average of claims, which smooths out fluctuations, fell slightly to 532,250, the lowest since mid-January and about 125,000 below the peak for the recession, reached this spring. But claims remain well above the 325,000 that economists say is consistent with a healthy economy. 

"Signs of recovery" would be the "cash for clunkers" boomlet, which just shifted car sales that would otherwise have been transacted now back to August (and thus third quarter), and other dishonest Donk book-cooking.  If we wait long enough I'm sure the ObamaHouse will redefine a dramatic upward spike in unemployment claims to be a "sign of economic recovery" as well, just so such risible claims aren't completely floating around in the illogic ether.

Ed delivers the grim coup de grace The One doesn't want you to know:

[T]he jobs lost are a cumulative total.  Losing 214,000 jobs in September is not an improvement from earlier this year when we lost 700,000 jobs in a month, because those initial 700,000 jobs are still lost.  It’s a reduction in the rate of disaster, which is better than losing jobs at the same rate, but that isn’t a realistic outcome anyway.  The jobs lost at the beginning of the recession were the ones employers could afford to shed; the ones left now are existential jobs, where the employers either have to retain staff or close doors altogether.

Once you cut away the "fat," all that's left is muscle, bone, and vital organs.  Cut any more and you....kill the patient.

Which brings us to one of B.O.'s economic brains and her recent, less than ecstasy-inducing congressional testimony.  Is even phony hope dead?:

An interesting tidbit from Dr. Christina Romer’s testimony before the Joint Economic Committee.  Citing economic analysts she says the fiscal stimulus will have its greatest impact on growth in the second and third quarters of 2009.  (Editors note — those quarters are now behind us).  By mid-2010, according to her testimony submitted to the committee, the “fiscal stimulus will likely be contributing little to growth.”  What does that mean?  Growth in the economy will be dependent on the private sector.  And for those who think the recession is over — [even] the administration still predicts the unemployment rate won’t dip below 10% until the third quarter of 2010 — that’s next summer.

This, gentlebeings, is expectation management.  They knew this would be the case.  They knew the economy would keep going down, and they know it's going to continue to decline, and they know it's never going to recover if they get their Marxist "transformation" enacted into law.  So they start managing expectations now, preparatory to going nuclear in next year's midterm campaign to (1) try to squeeze the last drops out of the Bushophobia turnip and (2) employ the Jon Corzine strategy in order to so turn off independents that they'll be primarily base vs base GOTV contests in which Donk voters will be sufficiently stimulated via their reflexive bloodlust to limit their party's losses and retain shrunken majorities.

Will it work?  Possibly for Corzine in two weeks, though still doubtful.  Definitely not in Virginia, where Governor-to-be Bob McDonnell is set to win in a blowout.  Geraghty gets the implicit 2010 punchline:

Unemployment is 9.8%. We're borrowing more than ever before. Retailers expect a miserable Christmas shopping season.

In light of this, Romer and the rest of the White House ought to knock off the happy talk.

And prepare for the mother of all electoral comeuppances.