Bombshell: The OMB claims President Obama's new deficit stimulus plan will create jobs but there's no official Obama administration analytic data to back that up. Jack Lew, Director of Budgets at the U.S. Office of Management and Budget(OMB), dropped this bombshell following the release of President Obama's newest debt plan when he agreed to go over it Monday morning, September 16, on FOX News with Jenna Lee. (Refer to video on sidebar)
When asked for specifics about the plan, such as how many jobs was President Obama's new plan projected to create and what were the estimates for GDP growth if the plan was enacted, Lew admitted that no official projections were available on Obama's plan - and he quoted outside estimates. Both Republicans and Democrats rely on the OBM for detailed and reliable data analytics of bill proposals of the presidency it serves.
Lee asked,"So are you putting out any estimates, for example, of the number of jobs created potentially by this plan - the GDP you might see based on the infrastructure spending, the payroll tax cuts and also the deficit cuts?"
Lew had promoted the claim that Obama's dual plan would "create jobs right away. " Now, Jenna Lee, the Fox host, had provided Lew with the opportunity to spotlight the number of jobs Americans could anticipate. Unfortunately, Lew was not "armed" with this basic data.
"We, we," stuttered Lew, "have not put an administration projection out there. There are a number of outside analysts...economic advisers have put out estimates. And they range, but they show, you know, $1 million to $2 million jobs being created. They show substantially more rapid growth in GDP - if the American Jobs Act is passed."
A quick-check of The President’s Plan for Economic Growth and Deficit Reduction, " released by Lew, reveals there are no job nor GDP projections available there either.
According to Reuters' Kevin Drawbaugh, there have been suspicions raised that the Obama administration doesn't really think that this bill will pass and it has been suggested that the bill has been "poll-tested" as a campaign issue. If this is true, it might explain the lack of Obama administration basic follow-through on official projections showing exactly how Americans will benefit from the plan:
"This is purely politics, aimed at Obama's demoralized base. It undoubtedly has been poll-tested, so now Obama has a populist campaign issue. There's obviously no chance this could pass" on a vote in Congress, Valliere said."
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