Personal Finance and Investing

Fuzzy math or flagrant fudgery?

Bernie Synakowski works on the brakes of a new cleaner-burning bus at the Daimler Buses North… Bernie Synakowski works on the brakes of a new cleaner-burning bus at the Daimler Buses North America facility in Oriskany, N.Y., in this file photo. Washington is paying hundreds of millions of dollars for the new buses, one of the $787 billion stimulus plan programs, that has the less glamorous, harder-to-quantify effect of keeping workers employed – a buffer from the recession to some in the auto industry. (Kevin Rivoli/AP Photo)

Following a series of reports across the country of what look like over-the-top over-estimates of jobs created or saved as a result of President Obama’s $787 billion economic stimulus package, a senior Republican lawmaker has challenged the administration’s accounting.

Ahead of a congressional hearing on the stimulus spending issue slated for next week, House Oversight and Government Reform ranking member Darrell Issa, R-Calif., has drafted a letter to Earl Devaney, chairman of the Recovery Accountability and Transparency Board, which monitors stimulus spending. In his letter, Issa expresses concern that “grossly inaccurate” information has been fed to the public. Issa’s letter questions whether the board’s claim that an estimated 640,329 jobs were created or saved as a result of the massive spending measure is accurate.

According to a draft version of the Issa letter obtained by ABCNews.com, and which is not expected to be sent until Monday, Issa drops a stiff challenge on Devaney’s doorstep. First, he asks whether he can certify that the number of jobs reported on the stimulus oversight board’s Web site as created or saved is accurate and auditable, and whether Devaney, if he can’t certify the numbers, would be willing to add a disclaimer to the site saying the numbers are not reliable.

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