President Obama’s math skills leave something to be desired. As a matter of fact, based on Mr. Obama’s recent interview on “60 Minutes,” the president deserves a grade of F in math. When confronted by the reporter with the reality that his economic stimulus package failed, he decided to lie to the American people. He said his stimulus had indeed worked just fine. As a matter of fact, according to Mr. Obama, it created 3 million jobs.
Let’s ignore the fact that this is a lie that would make Pinocchio blush. Let’s ignore the fact that Mr. Obama’s job-creation experience before he took residence in the White House wouldn’t qualify him to run a bodega. Let’s ignore the fact that “I created 3 million jobs” is the new version of the famous presidential lie “I did not have sexual relations with that woman.” Let’s actually give the president the benefit of the doubt.
First, we know that since Mr. Obama’s stimulus started, America has lost about 2 million jobs. So for Mr. Obama to tell the “technical” truth, it must be accurate that 3 million new jobs were created while 5 million jobs were lost, for a net loss of 2 million jobs. Technically, Mr. Obama could be telling the truth - the kind of truth only told by lawyers. Interestingly, he mentioned the 3 million jobs created but failed to mention the 5 million lost. I guess that, like former Democratic President Bill Clinton, this president (also a lawyer) isn’t quite sure of the meaning of the word “is.”
Second, this awful math sounds remarkably similar to the math of leftist environmentalist politicians in Spain. Millions of “green jobs” have been created in Spain, the environmentalists claim. Yet unemployment in Spain is above 20 percent. A recent study unearthed the reason for this disparity. It proved that for every green job created, three regular jobs in the traditional economy were lost. You gotta love the “new math” devised by Kool-Aid-drinking liberals the world over, huh?
Third, let’s assume Mr. Obama is 100 percent correct in his belief that his masterful economic plan created 3 million jobs. We know that his stimulus package spent about $750 billion of taxpayer money. Let’s do the simple math. Three million jobs divided into $750 billion equals a cost of about $250,000 per job. While Franklin D. Roosevelt created the New Deal, Mr. Obama has created a really Bad Deal. Spending $250,000 per job is the worst deal in taxpayer history. And that’s only if you believe 3 million jobs were actually created. They weren’t.
Here are some more common-sense questions. Wouldn’t Mr. Obama have been better off directly handing out $100,000 cash to 7.5 million Americans? That adds up to the same $750 billion. How about $50,000 cash handed directly to 15 million Americans? Or $25,000 cash handed directly to 30 million Americans? Or how about handing out $10,000 each to 75 million Americans? Wouldn’t handing out checks directly to American families have pumped up the economy far faster and far more efficiently than a $750 billion stimulus?
One thing is for sure: We couldn’t have done worse.
Or better yet, how about if Mr. Obama had never spent the $750 billion in the first place but instead had paid down our $1.5 trillion deficit and $100 trillion national debt (including unfunded liabilities). Wouldn’t that have been a wonderful Christmas gift for our children and grandchildren?
Instead, we wasted $750 billion on nothing - and added almost $1 trillion in debt to the tab for future generations. And as a “reward” for all that waste, we lost almost 2 million jobs.
No wonder our public education system is such a mess. No wonder our children are failing so badly. This new math that Mr. Obama practices is a killer - a jobs killer.
Wayne Allyn Root is a former Libertarian vice-presidential nominee and is author of “The Conscience of a Libertarian: Empowering the Citizen Revolution With God, Guns, Gold, Gambling & Tax Cuts” (Wiley, 2009). He writes at RootforAmerica.com.