AP STIMULUS WATCH: Stimulus Jobs Overstated In Report

The White House is promising that new figures being released Friday will be a more accurate showing of progress in President Barack Obama’s economic recovery plan. It aggressively defended an earlier, faulty count that overstated by thousands the jobs created or saved so far.

Ed DeSeve, serving as Obama’s stimulus overseer, said the administration has been working for weeks to correct mistakes in early counts that identified more than 30,000 jobs paid for with stimulus money. He said a new stimulus report Friday should correct many mistakes an Associated Press review found that showed the earlier report overstated thousands of stimulus jobs.

“I think you’ll see a pretty good degree of accuracy,” DeSeve said in an interview.

White House spokesman Robert Gibbs downplayed errors in job counts identified by the AP’s review, telling reporters, “We’re talking about 4,000, or a 5,000 error.”

The AP reviewed a sample of federal contracts, not all 9,000 reported to date, and discovered errors in one in six jobs credited to the $787 billion stimulus program — or 5,000 of the 30,000 jobs claimed so far.

Even in its limited review, the AP found job counts that were more than 10 times as high as the actual number of paid positions; jobs credited to the stimulus program that were counted two and sometimes more than four times; and other jobs that were credited to stimulus spending when none was produced.

FOR CONTINUATION OF THIS STORY, CLICK THIS LINK TO YAHOO! NEWS:   STIMULUS WATCH: Stimulus jobs overstated in report – Yahoo! News.

Posted by Man In The Middle on Oct 30th, 2009 and filed under Careers, Credit & Debt, Economy, Latest Job News, Latest News, Money, News, Politics, Stimulus. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site

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