A private-sector company that tracks government contracts says President Obama's $787 billion stimulus bill has created 407,000 private-sector jobs this year, much less than the 1.6 million jobs the Obama administration has claimed.
At the same time, the company's analysts are finding that many businesses are changing their strategies to take advantage of the government funds being dispersed.
Analysts at Onvia, a Seattle-based company, who monitor the government's contracting activity using specialized software say $37.5 billion of stimulus money has flowed to the private sector to date.
"This is quite different than the government's numbers, which claim as many as 1.6 million jobs already created," Onvia said. "The difference is due to the fact that the feds can track only two layers of stimulus money flow, far short of the full paper trail required. Therefore, a lot of guesswork and extrapolations go into the government's math, and the jobs numbers are forecasts more than anything else."
Onvia Senior Vice President and Chief Information Officer Eric Gillespie explained to The Washington Times, "What the federal government is recording is largely dollars that have left the Beltway. They aren't tracking the projects and contracts on the ground."
"They don't know if those dollars landed on the ground because their reporting requirements say they only have to track two layers beyond the federal level," he said. "So if it goes from the state to a county, they will know that. But if it goes from a county to a city or from a county to a contractor there is no legal requirement for them to track that, which is why the federal views are latent and they get it three, six, or 12 months late."
So, Obama is basically guessing on how many jobs have been actually created by his deficit spendapalooza. He doesn't have any proof to back his claims.
This is why we need an investigation on what is really going on with the dispersion of the stimulus money. We can't totally trust this Administration's guestimations and suspect record keeping. We must know for sure whether Obama and the Democrats kept their promises to put America back to work or wasting all of our money of worthless government programs, yet again.