Biden Says 1 Million Jobs ‘Saved or Created’

Posted October 30, 2009 at 1:07pm

Vice President Joseph Biden on Friday said that more than 1 million jobs have been “saved or created— by the economic recovery act so far, claiming the stimulus money has yielded a bumper crop of jobs through a combination of direct and indirect methods.Biden, who spoke during an event at the White House along with California Gov. Arnold Schwarzenegger (R) and Maryland Gov. Martin O’Malley (D), asserted that 640,000 jobs were saved or created by companies directly from the stimulus payments, while at least another 400,000 jobs were saved or created as a result of the economic activity generated by the stimulus payments. “Men and women are receiving a paycheck now that they otherwise would not have,— Biden said. He said the White House was “on track— to create or save 3.5 million jobs by the end of next year, as promised.Republicans questioned the figures. House Minority Leader John Boehner (R-Ohio) released a memo from economist Allan Meltzer doubting the very concept of “saved— jobs.“There is no greater recognition of the failure of the stimulus program to create jobs than the efforts to mislead the public into believing the program had saved thousands, or millions, of jobs,— Meltzer wrote. “One can search economic textbooks forever without finding a concept called ‘jobs saved.’ It doesn’t exist for good reason: How can anyone know that his or her job has been saved?—Following a report this week that early figures posted on the White House Web site were higher than borne out by the data, the White House took pains to assure that Friday’s figures were reliable. White House officials have said the mistake occurred because the hiring data had not been completely vetted.“They’ve had a chance to go through the numbers over the past couple of weeks and address any confusion or errors,— White House Press Secretary Robert Gibbs said.Biden said the process was improving.“We’re going to learn from the reporting how we can do the reporting better,— said Biden, who suggested he would announce problems that are found. It’s “the only way we can gain the credibility of the American people — gain back the credibility of the American people,— he said.