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LarryNaselli.com
Friday, June 19, 2009
Lost or Destroyed

Barack Obama has promised that his policies will "save or create" five million jobs in three years. It's tempting to conclude that this "heads I win, tails you lose" metric of success or failure says much about Obama's low opinion of the intelligence of American voters, but I'd rather call President Obama's bet and raise him.

Measuring jobs created and lost is a fairly objective process, at least over the long term. But measureing jobs saved is considerably less scientific -- what is known in less polite circles as bullshit (please excuse the crudity, but it is the right word).

If we are going to measure the nebulous category of jobs "saved," (i.e. jobs that would have been lost, but for Obama's policies which prevented them from being lost), then we should just as well be able to measure jobs "destroyed," (i.e. jobs that would have been created, but for Obama's policies which prevented them from being created).

Policies of deficit spending and confiscatory taxation drain capital from the job-creating private sector, therefore every dollar increase in taxes and spending costs job creation at the margin -- these jobs that would have been created but aren't, are jobs destroyed.

Obama's sycophants celebrate a loss of 350,000 jobs in May as a net gain of "jobs saved or created," while every monthly gain of 150,000 or so jobs during George W. Bush's tenure was decried as a disappointment, because it "fell short of experts* expectations."

Applying my model to May's 350,000 lost jobs, we add to that number, all the jobs that would have been created but for the drain of capital from the private sector due to increased taxation and government spending. Taking a cue from Obama and company, we could claim that in May two million jobs were destroyed, for a net lost or destroyed job count of 2,350,000 in May alone.

If President Obama considers the Lost or Destroyed method fanciful, then, as Reagan taught us, we can offer him a "Zero Option." We will grant the point that it is impossible to calculate jobs destroyed, if he will stop claiming to be able to divine jobs saved.

 

*what is it, anyway, about being evidently incapable of making a solitary accurate prediction that qualifies one as an expert?


Posted by larry_naselli at 4:56 PM CDT
Updated: Friday, June 19, 2009 5:27 PM CDT
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