Creative Accounting “Creates or Saves” More Jobs

Apparently the best defense is a good offense — or at least an offensive method of accounting. 

The Obama administration has decided it is easier to develop a totally new method for quantifying job creation, rather than try and correct the numerous errors documented over the the first 11 months of last year.

The revised accounting method allegedly yields 640,000 jobs “tied” to federal stimulus projects.  The new methods simply traces federal funds which pay salaries of either existing or new employees working on federally funded stimulus projects.

This methodology appears to be helpful in helping the administration meet its highly publicized (and problematic) promise  to “save or create” 3.5 million jobs during President Obama’s first term.

The continuing challenge for the U.S. and the world is double-digit unemployment — which may take some time to reduce.

Summary of new methodology

http://www.msnbc.msn.com/id/34830451/ns/business-stocks_and_economy     

Access all the details on Recovery.Gov

http://www.recovery.gov/OPPORTUNITIES/Pages/Jobs.aspx

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