NY Times misses the point on stimulus spending

Again, the New York Times just assumes that this stimulus spending creates jobs and ignores the more basic question of where the money comes from.

The government watchdog overseeing the federal stimulus program testified Thursday that he could not vouch for the Obama administration’s recent claims that the money had saved or created 640,000 jobs. He suggested that the administration should have treated the number with more skepticism.

The 640,000 figure, announced by the White House with some fanfare last month, came from reports filed by recipients of the stimulus money, many of which have been shown to be inaccurate or overstated since they were made public. But the watchdog, Earl E. Devaney, the chairman of the Recovery Accountability and Transparency Board, said that it was also possible that the figure understated how many jobs were affected. Up to 10 percent of the recipients had not filed the required reports showing how many jobs they had created or saved, he said. . . . .