If enacted quickly, the President's new Small Business Jobs and Wages tax credit proposal will therefore create fewer (and maybe far fewer) than 165,000 - 297,000 jobs this year. For comparison, remember that the U.S. economy has lost 2.7 million jobs since a year ago, and 7.2 million jobs since the beginning of the recession in December 2007. 297,000 is 4.1% of 7.2 million, so you're talking about a policy change that at best would restore fewer than 1 out of 25 jobs lost since the recession began.