Here He Comes To Save Your Job

The first $150 billion spent on stimulus has saved 650,000 jobs, according to the latest Obama administration report.

Based on approximately $150 billion in spending from the $787 billion recovery package, the tally is the first broad, concrete look at the stimulus program's impact on the economy. The numbers are drawn from tens of thousands of reports from state and local recipients as well as private companies.

The White House said the actual number of jobs created so far is likely closer to 1 million, since its report on stimulus job creation only focused on $150 billion of the $339 billion in American Recovery and Reinvestment Act funds spent so far.

The Obama administration is expected to announce further details Friday afternoon, after the government posts complete reports online on its stimulus data tracker Recovery.gov.

As many as a million more jobs could have been lost if it wasn't for the stimulus. Sobering numbers this morning indeed. The same people who are complaining that Obama did too much would now be complaining if he did nothing, as the unemployment rate would be even higher than it is now.