Obama Admin Claims Porkulus Created 3 Million Jobs

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President Obama and members of his administration must think we’re all stupid. Or they’re simply desperate now that he and his party are sinking like stones in the polls. What else could explain their latest claim?

CNN Money: Despite groans from Republicans about high unemployment and the growing national deficit, President Obama’s administration continues to say the $787 billion stimulus is working.

In its latest stimulus report released Wednesday, the White House’s Council of Economic Advisers said the Recovery Act has already saved or created about 3 million jobs.

That’s in line with earlier predictions from Christina Romer, chairwoman of the CEA, who has said since the beginning of the Recovery Act that the stimulus would save a total of 3.5 million jobs by the end of 2010.

The CEA uses two different models, which estimate the number of jobs to be between 2.5 million and 3.6 million, meaning Romer’s target may have already been reached.

But the administration’s figures are highly criticized by some economists and Republicans in Congress who point out it’s derived from mathematical formulas, not an actual headcount of people who’ve received jobs funded by stimulus money.

Republican Rep. Darryl Issa said their “saved or created” claims lack a basis in reality. Isn’t that the truth. They also said the unemployment rate wouldn’t go above 7%, we all know they were wrong about that. So why should we believe that that prediction was wrong, but the “saved or created” numbers are correct?

Update: According to The Wall Street Journal the only people who believe this lie are Obama and Biden.