Following today's report on the increase in applications for U.S. unemployment benefits, CNBC’s Rick Santelli decided to take on the Obama campaign and its claim that the president has created “five million jobs.”
“You can slice it any way you want!" Santelli shouted in his inimitable style. "The president was sworn in in mid-January of '09."
“If I go back and look at nonfarm -- and I have all the data! -- actual nonfarm payrolls, the establishment survey, the headcount survey, and I take the 818 minus thousand from January," he added, referring to the monthly job loss numbers the president encountered when he was inaugurated, "he wasn't sworn in until the middle of the month. Do the math!"
“You know what the math is? It's a push. It's a push. There's zero jobs created. It's a push. If you look at the minuses and the pluses, it's a push!”
By “push” Santelli means “null” and/or “draw,” that is, zero.
“So where do they get all these numbers and they’ll say, ‘well, they were going down for’ -- listen: whether it's [Chicago] Cub managers or the president, January of '09 to today, throw out January, it's a push, basically zero."
CNBC reporter Carl Quintanilla looked both apprehensive and amused.
“Hopefully, people are smart enough to know where they're getting that five million, Rick,” Quintanilla said, “great point.”
“They're not counting the minus numbers,” Santelli explained. “If I don't count what my family spends, I'm a rich guy!”
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