Wednesday, April 28, 2010

Unleash Joe Biden, Jobapalooza Edition

I missed this story last week, but it explains why Joe Biden should never, ever be considered for SecTreas or SecLabor.  I love the guy, but when it comes to economics he has no goddamn clue what he's talking about.
"All in all, we're going to be creating somewhere between 100,000 and 200,000 jobs next month, I predict," Biden was quoted as saying, while acknowledging he "got in trouble" for a job growth prediction in March.

"Even some in the White House said 'Hey, don't get ahead of yourself.' Well I'm here to tell you some time in the next couple of months we're going to be creating between 250,000 jobs a month and 500,000 jobs a month."
OK Joe?  Buddy?  Pal?  Just stop.  250,000 new jobs per month for the next few months would be great.  500,000 new jobs a month for the next few months would be supernaturally phenomenal to the point of Obama being the Greatest President of All Time.

There's just no way this is going to happen.  None.  I love you Joe, but this time you're overestimating things by about a factor of 3 or 4 here, and that's a pretty goddamn big hole you just dug your boss and your party.  Half a million jobs a month isn't happening.  Hell, 250,000 a month would be a mighty accomplishment.  Even at the height of the Clinton boom we never did that well, maybe just over 220,000 new jobs a month.

Talking half a million is just irresponsible and stupid.  Even for Joe Biden.  My God I hope he's right, but...this is just wishful thinking.

No comments:

Related Posts with Thumbnails