White House misses economic growth projections by 100-400%

The Washington Post, April 23, 2010

Biden predicts economy will create up to 500,000 jobs a month soon
By Garance Franke-Ruta and Frank Ahrens 

Vice President Biden predicted Friday at a Pennsylvania fundraiser that the U.S. economy would be adding up to 500,000 jobs each month "some time in the next couple of months."

"All in all we're going to be creating somewhere between 100[,000] and 200,000 jobs next month, I predict," Biden said, according to a pool report, adding that he "got in trouble" for a job growth prediction last month. "Even some in the White House said, 'Hey, don't get ahead of yourself.' Well, I'm here to tell you, some time in the next couple of months, we're going to be creating between 250,000 jobs a month and 500,000 jobs a month.

It's "next month."  Was the Vice-President right?

The Washington Post, June 3, 2010

Employers add fewest jobs in eight months; unemployment jumps to 9.1 percent
By Neil Irwin

Employers pulled back sharply on job creation in May, and the unemployment rate took a surprising jump, according to new data Friday, confirming worries that the economy is losing momentum — and fast.

Employers added only 54,000 jobs in May, down from a revised 232,000 in April and the weakest since September, the Labor Department said Friday morning. The unemployment rate rose to 9.1 percent last month, from 9 percent.

Not only was Vice-President Biden off by anywhere between 100 and 400 percent in his May jobs projections, it would take an unforeseeable miracle for the economy to recover from the Obama administration's high-tax, high-regulation, anti-growth policies to create a half-million jobs in the next four weeks.

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