The Obama jobs deficit, which stands at 7.3 million jobs, measures the extent to which he has failed to deliver on his promised job creation.
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The President’s original target for jobs creation set during the campaign in the fall of 2008 was 2.5 million jobs. But as employment fell at the end of 2008, he increased the employment target by 1 million to 3.5 million jobs. At the time, employment stood at about 135.1 million, according to the Department of Labor’s most commonly used measure. This establishes the current Obama jobs target at 138.6 million. According to the latest jobs report, total U.S. employment stood at 130.5 million in November, which means that the cumulative Obama jobs deficit—the difference between the end target and the current employment level—stands at 7.3 million. (The actual figure is 7.58 million—138.58 million in December 2010 minus 131 million in November 2009.)
For some unfathomable reason Obama is considered a brilliant intellectual in some circles. Maybe he is. And like many supposedly brilliant minds, a complete failure outside of Ivory Tower. We could live with that if only the price for his failings were not paid by millions. Paid by millions and in trillions.
Lets not elect someone so bright next time.