Here is the question: In estimating the number of net jobs created by the stimulus package, how many jobs did the Administration assume were lost when hundreds of billions of dollars were pulled out of private hands and distributed by public authorities?
And the answer to that question is just one reason the analysis is absurd. I have seen a lot of good critiques about accounting in the jobs numbers. But the biggest single problem is that it is assumed that the trillion dollars Obama has pulled out of private capital markets (via deficit spending) wasn't really doing anything productive, so that redirecting it into pork-barrel programs chosen by Congress based on their campaign donor lists and run by government bureaucrats would use the money much better.
Anyone believe this? So why have I not seen a single reporter ask the question, "But how many jobs were lost from where these funds were taken?" Just because they are invisible or hard to count does not mean they don't exist.