Trump Claims to Have Saved 51 Million Jobs

Mish

Fresh out of the Obama playbook, the Trump Administration Says Pandemic Aid Saved 51 Million Jobs

U.S. President Donald Trump’s administration touted its $660 billion small business pandemic aid program this week as a “wild success,” unveiling data that showed the initiative saved 51 million jobs.

“I’m skeptical of the total number,” said Philip Mattera, a director at Washington-based non-profit Good Jobs First, which focuses on government accountability.

Mattera said one “telltale” sign that some borrowers may have fudged the figures was the 3,728 companies which reported that they retained exactly 500 employees.

As companies were not compelled to provide job retention estimates to apply for the loan, 878,000 companies either reported that no jobs were retained or did not provide a number, a Reuters analysis found. That’s roughly 18% of all loans.

Two Liar Strategies

  1. Make it believable
  2. Make it so preposterous no one could possibly believe it

Trump clearly chose door number two. 

This reminds me of Obama's Pledge to Save or Create Jobs in 2009.

"Saved or created" has become the signature phrase for Barack Obama as he describes what his stimulus is doing for American jobs. His latest invocation came yesterday, when the president declared that the stimulus had already saved or created at least 150,000 American jobs -- and announced he was ramping up some of the stimulus spending so he could "save or create" an additional 600,000 jobs this summer. These numbers come in the context of an earlier Obama promise that his recovery plan will "save or create three to four million jobs over the next two years."

Obama vs Trump

Obama pledged to "save or create" 3-5 million jobs over two years.

I noted Obama creates 640,329 jobs at a cost of $323,739.83 per job

Trump claims to have saved 51 million jobs in a few months. 

Trump needs a bigger lie because covid stimulus is about $3 trillion not $660 billion. If Trump saved $51 million jobs the cost was a mere $58,823 per job saved. And that assumes there will not be more stimulus plans.

But 51 million jobs is despite the fact there are nearly 20 million people on state unemployment rolls and another 10 million on Federal programs. 

For discussion of the numbers please see Unemployment is Much Worse Than it Looks

Mish

Comments (28)
No. 1-15
AbeFroman
AbeFroman

Trump lies like the average person breathes. It is difficult to comprehend a mind like that, much less how it was allowed into the White House. But here we are, four years into his “administration,” and we still marvel at his lies.

anoop
anoop

in these times, spending is more important than saving. please go and spend, spend, spend!

Tony Bennett
Tony Bennett

"Saved or created" has become the signature phrase for Barack Obama as he describes what his stimulus is doing for American jobs.

...

All smoke and mirrors.

Politicians love to hide behind hypothetical. What made Obama's galling was his job czar - Jeff Immelt, CEO of GE. Not only did he run GE into the ground, but one of the first things he did as job czar was to move a division of GE to India.

What, uh, exactly qualified him as job czar??

Tony Bennett
Tony Bennett

“I’m skeptical of the total number,”

...

Well, cross him off the White House Christmas card mailing list ...

Augustthegreat
Augustthegreat

tRump is the greatest liar of the world!

channelstuffing
channelstuffing

Give Trump credit,at least some of that $20 plus trillion in bailouts went into the Main Street economy, sure 90% went to bail out banks and Hedge Funds but under Obama the trillions doled out went entirely to banks and Wall Street after he took his cut leaving Main Street to rot on the vines as millions were foreclosed on and businesses closed permanently!

Dodge Demon
Dodge Demon

The only positive thing I have to say about Trump, especially in contrast to his 5 immediate predecessors, is that he has slowed down the war machine and has attempted to put it into reverse. Not sure where that fits in the whole ‘Trump is a racist’ narrative.

Montana33
Montana33

Tell that to all the unemployed and about to be unemployed people.

Zardoz
Zardoz

trump can't even see his feet.

njbr
njbr

Between Trump's 51 million and Ivanka's 14 million, 40% of all employed people owe their jobs to the Trump dynasty. Great minds note that his approval is at about 40%. Hmmm...

Bungalow Bill
Bungalow Bill

The longer Trump stays in office the more I realize he is just an orange version of Obama on steroids...

Casual_Observer
Casual_Observer

Biden should just let Trump keep talking. Even at the debates Biden should cede all his time to Trump. It would be the best debate strategy ever against Trump.

Tengen
Tengen

If these boards are any indication, I think Trump is in big trouble in November. People used to spend great effort defending him, but many of them have shifted to a full time argument that Covid-19 is just the flu, lockdowns are wrong, masks are evil, etc.

It's like they've grown weary of Trump and now have a shiny new toy to play with instead!

WildBull
WildBull

Everybody wants transparency in government. Trump is quite transparent, as opposed to the other liars.


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