US Govt Creates only 30, 000 Jobs out of $787B Stimulus Fund
A new data regarding the state of the $787 billion US stimulus package has now raised the question on whether the Obama administration has failed in its implementation.
The data showed that out of the $16 billion earlier released has only created some 30, 000 jobs under the federal contracts, a small number to what the government has earlier predicted.
The first data, based on a survey conducted regarding the effects of the United States government’s stimulus package, has shown the “ugly truth” and the “real” score on the job creation proposed by authorities.
As of Thursday, according to the data, only 30, 000 jobs under the federal contracts have been created since the first implementation of the $787 billion stimulus program of the US government.
The data was the first and only survey conducted regarding the stimulus program.
But White House officials brushed off the latest findings, saying that the data was juts a tiny portion compared to the actual impact of the stimulus package in the US and other parts of the world.
The figure, the officials added, was covered by the $16 billion disbursed on September 30 to create specific job units in the US.
“It’s not the actual figure that the whole $787 billion stimulus package has created,” an official familiar with the matter said. He added that recipients reported otherwise.
Meanwhile, the top economic advisor of Vice President Joe Biden, Jared Bernstein said that it is too early to draw conclusions both in the US and the global economy, saying that it was just a partial and preliminary data.
Bernstein is the one in charge of overseeing the implementation of the stimulus package.
It will be recalled that the Obama administration has promised some 3.5 million new jobs by the end of 2010. Officials said that they are on target.
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