Congresswoman Maxine Waters had a dire prediction for America about sequestration, claiming that 170 million jobs would be lost as a result of the across-the-board cuts. But according to the Bureau of Labor Statistics, there are only about 140 million jobs in the whole country.
During a press conference on February 28, Waters told reporters of a visit by Federal Reserve Chairman Ben Bernanke who told members of congress that sequestration is not the optimal way to cut the federal budget.
Talking of Bernanke’s comments, Waters claimed that “if sequestration takes place, that’s going to be a great setback. We don’t need to be having something like sequestration that’s going to cause these jobs losses, over 170 million jobs that could be lost.”
However, according to the Bureau of Labor Statistics, Table A-9, Selected Employment Indicators, in January of 2013 there were 141,614 million jobs in the current American economy.
Using Waters’ math, the US would lose about 30 million more jobs than it had to start with.
Maxine Waters was selected to be her party’s senior member on the Financial Services committee in December.