Obama promises more than 600,000 stimulus jobs

BRETT BLACKLEDGE
Associated Press Writer

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By SBT 24/7 News

Story Created: Jun 8, 2009 at 5:45 AM EST

Story Updated: Jun 8, 2009 at 11:19 AM EST

WASHINGTON (AP) — President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion U.S. stimulus plan in the next few months, repackaging a pledge the administration made weeks earlier as the economy continues to lose hundreds of thousands of jobs each month.

Obama spotlighted billions in federal agency spending planned in coming months in an announcement Monday designed to draw attention to his stimulus program. Much of the spending he announced already was in the works, including hundreds of maintenance projects at military bases, about 1,600 state road and airport improvements, and federal money states budgeted for 135,000 teachers, principals and school support staff.

Obama's promise to create so many jobs — a vow Vice President Joe Biden made last month — quickly drew criticism from oponents and economists who have argued his stimulus plan thus far has not delivered.

"I think these estimates are overly optimistic," said Arpitha Bykere, a senior analyst with RGE Monitor.

Bykere said it likely will be later this year before any meaningful job creation occurs from stimulus spending.

The administration had always viewed the summer as a peak for stimulus spending, as better weather permitted more public works construction and federal agencies had processed requests from states and others.

The government reported last week that the number of unemployed continues to rise; the unemployment rate now sits at 9.4 percent, the highest in more than 25 years. Hundreds of thousands of Americans continue to lose jobs each month, although fewer jobs were lost last month than expected.

Just how much of an impact Obama's recovery program had on the pace of job losses is up for debate. Obama has claimed as many as 150,000 jobs saved or created by his stimulus plan so far, even as government reports have shown the economy has lost more than 1.6 million jobs since Congress approved funding for the program in February.

Republicans remain critical of the stimulus spending, slamming it as a big government program that ultimately will do little for recovery. With only a fraction of the federal money actually spent thus far, it's premature to give the stimulus plan credit for economic trends, congressional Republicans said last week.

"I think the economy is just as likely to begin to recover on its own, wholly aside from this, before much of this has an impact. So I'm very skeptical that this massive sort of spending binge that we've engaged in is going to have much of an impact," said Senate Minority Leader Mitch McConnell, a Republican.

Obama initially offered his stimulus plan as a way to put people back to work, a promise that 3.5 million jobs would be saved or created. The administration's predictions that unemployment would rise no higher than 8 percent already have been shattered, leaving Obama's advisers to caution that job growth takes time, even as recovery spending intensifies.

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