Quick Fact: NY Post falsely denies Obama cut taxes, saved jobs
In a January 28 editorial, the New York Post asked if President Obama was in "Opposite Land" when he "claimed to have cut taxes and saved 'millions' of jobs." In fact, Obama's recovery act included $288 billion in tax relief, and economists estimate that the stimulus "raised employment" by as many as 2 million jobs through December 2009.
From a January 28 New York Post editorial:
Fact is, last night's address was less a substantive than a political speech -- riddled with bluster and prevarication. Obama claimed to have cut taxes and saved "millions" of jobs, "isolated" Iran and opened government.
Where was he -- Opposite Land?
FACT: The American Recovery and Reinvestment Act included $288 billion in tax relief
Recovery act included significant tax relief for individuals, families, and businesses. As Media Matters for America has noted, the recovery act contained $288 billion in tax relief, including the Making Work Pay tax credit, a two-year annual credit of $400 per individual or $800 for families. In addition, the recovery act included a temporary increase in the earned income tax credit, a temporary increase in the refundable portion of the child tax credit, an increase in the first-time homebuyer tax credit, and tax incentives for businesses
FoxNews.com and WashingtonTimes.com bloggers similarly "miss[ed]" Obama's tax cuts. In response to Obama's State of the Union assertion that "we cut taxes," live bloggers for FoxNews.com and WashingtonTimes.com reacted with incredulity. For instance, Fox Forum columnist Peter Roff wrote, "We cut taxes? How did I miss that?" and The Washington Times' Kerry Picket wrote, "We cut taxes? Is he serious?"
FACT: Economic analysts estimate the recovery act increased relative employment by as many as 2 million jobs
Economists estimate stimulus "raised employment" by as many as 2 million jobs through December 2009. In a quarterly report issued January 13, the White House Council of Economic Advisers estimated: "As of the fourth quarter of 2009, the CEA estimates that the ARRA has raised employment relative to the baseline by between 1½ and 2 million. The CEA estimates for both the effects on GDP and employment are similar to those of respected private forecasters and government agencies." The CEA cited Moody's Economy.com estimates that the stimulus increased employment by 1.6 million jobs through the fourth quarter of 2009. From the CEA's quarterly report:
A: Because there isn't any!
It must just be a rhetorical question, because clearly the answer is, "No, Obama is in Regular-Land."
ABBA - Anyone But Barry Again...