Congressman: Obama's 'Jobs Deficit' Hits 12.9 Million

March 9, 2012 - 4:47 PM

Congressman Tim Huelskamp (R-KS) released analysis today showing that Pres. Obama has a  “jobs deficit” of nearly 13 million, even though the unemployment rate is holding steady.

Rep. Huelskamp bases Obama’s “jobs deficit” on the employment level that the Obama administration projected would result from its $1 trillion of stimulus spending.

“The Obama Administration projected that in 2012, the unemployment rate would be around 6 percent as a result of the stimulus,” the congressman says:

“Assuming those projections and assuming the current size of the labor force (154.9 million), then 145.6 million Americans should be working right now.

“However, according to the February 2012 figures provided by the Bureau of Labor Statistics, the number of non-farm employees in February 2012 was 132.7 million, leaving a difference of 12.9 million jobs.”

“The only thing America has to show for this massive government boondoggle is more debt and an Obama Jobs Deficit of nearly 13 million.

“The unemployment rate may be holding steady, but it is still more than 30 percent higher (2.3 percentage points) of where the Administration pledged it would be as the result of a trillion-dollar stimulus.”

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