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Monday, June 28, 2010

Is Anyone Counting "Jobs Destroyed or Averted"?

We all know how carefully the Obama administration touts the mythical "jobs created or saved" (or is it "saved or created"?).

We also know how many jobs have been lost since the Stimulus Plan passed (well over 2 million, even including expansion of government jobs).


is anyone documenting how many jobs have been "destroyed or averted" as a result of Obama administration policies and decisions?

Let's start here, U.S. agency's action may kill Bucyrus deal, cost 1,000 jobs:

Up to 1,000 jobs at Bucyrus International Inc. and its suppliers could be in jeopardy as the result of a decision by the U.S. Export-Import Bank, funded by Congress, to deny several hundred million dollars in loan guarantees to a coal-fired power plant and mine in India.

About 300 of those jobs are at the Bucyrus plant in South Milwaukee, where the company has 1,410 employees and its headquarters. The remaining jobs are spread across 13 states, including Illinois, Minnesota and Indiana.

On Thursday, the Export-Import Bank denied financing for Reliance Power Ltd., an Indian power plant company, effectively wiping out about $600 million in coal mining equipment sales for Bucyrus, chief executive Tim Sullivan said.

The fossil fuel project was the first to come before the government-run bank since it adopted a climate-change policy to settle a lawsuit and to meet Obama administration directives.

Other examples?

Related Posts:
Who's Heartless Now?
Greece Syndrome Defined
One Year Ago I Saved The Economy

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  1. First, a new government job doesn't count as a "new job". It's one more burden that the tax payers must carry on their backs.

    Second, a new job founded on a government contract doesn't count as a "new job" because it lasts until it's counted -- and the funding goes away. It too is a yoke the public must pull.

    Third, when the government takes over a company (like GM), a bank or an insurance company, none of those jobs should be considered new jobs.

    Last, when it comes to any presidency: Figures lie and liars figure.

  2. If the offshore drilling moratorium withstands the legal challenges, it will result in the direct loss of tens of thousands of oil workers losing their job. This press release says 38,000 workers will be directly affected (but I remember another story indicating it would be only 20,000).


    Then who knows how many indirect support jobs will be lost, or the impact of those workers lost wages will have on mortgage forclosures, housing values, and discretionary spending.

    Furthermore, John Hofmeister, who formerly ran Shell USA, says the offshore ban will reduce oil production by 1 million barrels a day. He calculates that will lead to $4 gasoline in about a year. Who knows how many jobs that will destroy as consumers cut back further on discretionary spending to spend more of their income to fill their gas tank.

  3. I took some lession in wood turning from a pro some years ago. As we talked, he was regretful that he could not have had a bigger shop and done more over the years. The reason? OSHA. He said that at one time he had 12 workers with him but that the government created so many road blocks that he opted to go back to a single man shop.

    I have had similar experiences with Medicare and several of the other regulatory agencies. After awhile, the money is just not worth it.

    Maggot, you are wrong about the cost of gas. It is predicted to be near $8. Obama clearly indicated he would be happy with that when he was running.

  4. I predict 1,001 new green jobs picking up dead birds and wiping stray feathers from the blades at wind farms. Note the net job creation as a result of losing those icky Bucyrus coal related jobs.

    Therefore no jobs will be destroyed.

  5. Did anyone ever quantify just how many private sector jobs were lost when they took over student loans?

  6. and again he continues his (and this regime's) fight against coal. grrrr.

  7. Apparently they're refusing to process permits even for near shore drilling -- and people are starting to go out of business. See here. Be sure to read comment by Knut.