Reno Hayek Symposium

Bloomberg reports that President is putting his “creating or saving” program in high gear. He intends to “create or save” more than four times the number of jobs he has already created or saved, 600,000 of them!

June 8 (Bloomberg) — President Barack Obama, trying to bolster an economy he says still has a “long way to go,” announced 10 projects aimed at creating or saving more than 600,000 jobs, according to the administration.

The plans are meant to boost the effectiveness of a $787 billion stimulus measure sought by Obama and approved by Congress in February. The projects will be a key focus of recovery efforts during the next three months and create or save four times more jobs than during the first 100 days since the rescue bill became law, according to a White House news release……..

The new projects are being framed as the beginning of a “summer of accelerated Recovery Act activity” by the administration and include new services at health centers in 50 states, work on 107 national parks, improvements at airports, highway locations and veterans’ medical facilities. They will also provide funding for schools to hire more teachers.

via Obama Unveils New Projects, Says Economy Has ‘Long Way to Go’ – Bloomberg.com.

Apparently no consideration is given to the economic value or sustainability of these government jobs funded at taxpayer expense much less the economic loss and jobs lost by virtue of the excessive government spending. Hiring more teachers as part of the summer of accelerated Recovery Act activity, now that’s a plan. Seems this administration may be confusing activity with progress!

Tom Motherway, tom@renohayek.com