/dev/null Posted July 4, 2011 Share Posted July 4, 2011 http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html Link to comment Share on other sites More sharing options...
....lybob Posted July 4, 2011 Share Posted July 4, 2011 http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html Where the money went Link to comment Share on other sites More sharing options...
Nanker Posted July 4, 2011 Share Posted July 4, 2011 I was so proud to show my mom and sister our Obama highway here outside Princeton when they came to visit last week. Yes, it's only a mile long and four lanes wide, but the resurfacing job that was just completed was amazing. I explained to them that it created thousands of new permanent well-paying jobs for the construction workers who not only put on a new surface - get this - they had to remove the old surface first. Oh, the humanity! But, I suppose that's the price you pay to have a career in resurfacing roads for Obama. It's not all coffee breaks and siestas. But the best part of the story was when I told them that the work was done for free! It didn't cost us taxpayers anything. No local taxes, no state taxes were used to create these thousands of new road rebuilding jobs. You want to know why? I'll tell you. Obama gave the town the money! It didn't cost us a penny! It was totally free. Now that's awesome. No wonder he made it all the way to become the President. President BO. He's quite a guy. . Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 4, 2011 Share Posted July 4, 2011 Where the money went And this changed the point and fact of this thread how? Are you disputing the three hand-picked Obama economists who released this report? Or are you just providing a link because your ability to think for yourself is in the crapper? Link to comment Share on other sites More sharing options...
Magox Posted July 4, 2011 Share Posted July 4, 2011 And this changed the point and fact of this thread how? Are you disputing the three hand-picked Obama economists who released this report? Or are you just providing a link because your ability to think for yourself is in the crapper? You're just asking for a youtube link aren't ya? Link to comment Share on other sites More sharing options...
....lybob Posted July 4, 2011 Share Posted July 4, 2011 And this changed the point and fact of this thread how? Are you disputing the three hand-picked Obama economists who released this report? Or are you just providing a link because your ability to think for yourself is in the crapper? A lot of my posts are just a presentation of information, it always amuses me that some on this board view information as a pejorative- as for Obama's stimulus plan, I wouldn't have targeted the money in the same way. Link to comment Share on other sites More sharing options...
GG Posted July 4, 2011 Share Posted July 4, 2011 A lot of my posts are just a presentation of information, it always amuses me that some on this board view information as a pejorative- as for Obama's stimulus plan, I wouldn't have targeted the money in the same way. Yet you have no problem defending it or the man who created it. Link to comment Share on other sites More sharing options...
DC Tom Posted July 4, 2011 Share Posted July 4, 2011 Where the money went A quarter-trillion in tax breaks? No one's struck by the unmitigated hypocrisy of that? Link to comment Share on other sites More sharing options...
....lybob Posted July 4, 2011 Share Posted July 4, 2011 Yet you have no problem defending it or the man who created it. I criticize Obama all the time, in fact I think he should be impeached over Libya. He continued and expanded 4th amendment violations, claimed the right to assassinate American citizens without Judicial hearings, failed on his promise to close Gitmo, failed on his promise of increasing governmental transparency, his financial reforms were weak and toothless, His health insurance reform lacked boldness, didn't have cost containment and overall his policies were a gift to the pharmaceutical and insurance industries, continued the Bush tax cuts for the rich, and his biggest failing is his man-crushs on Timothy Geithner and Ben Bernanke. I do defend Obama against irrelevant and moronic attacks most of which rise to the level of that he uses mustard on his hamburger instead of ketchup. Link to comment Share on other sites More sharing options...
TPS Posted July 5, 2011 Share Posted July 5, 2011 Gee, no one here questions that it's an editorial from the TWS? If the writer wasn't biased, he would've given a range for the cost of jobs, since the report said it created/saved from 2.4 tp 3.6 million jobs--he chose to report the minimum. The most biased part of the piece is his comparison of the unemployment rate, saying it was 7.3% when the stimulus was being debated (Dec 2008), as oppposed to using the rate when it kicked in, 8.6%. The report also stated that since the stimulus was one-time spending, as the spending recedes, so is the employment impact. This guy makes some idiotic conclusion that job growth would be faster than without the stimulus. From my perspective the fiscal stimulus did what it was supposed to do--it prevented a much deeper recession, and helped in turning GDP growth from negative to positive. Of course, I would've suggested a different mix of spending and tax cuts... Link to comment Share on other sites More sharing options...
....lybob Posted July 5, 2011 Share Posted July 5, 2011 Gee, no one here questions that it's an editorial from the TWS? If the writer wasn't biased, he would've given a range for the cost of jobs, since the report said it created/saved from 2.4 tp 3.6 million jobs--he chose to report the minimum. The most biased part of the piece is his comparison of the unemployment rate, saying it was 7.3% when the stimulus was being debated (Dec 2008), as oppposed to using the rate when it kicked in, 8.6%. The report also stated that since the stimulus was one-time spending, as the spending recedes, so is the employment impact. This guy makes some idiotic conclusion that job growth would be faster than without the stimulus. From my perspective the fiscal stimulus did what it was supposed to do--it prevented a much deeper recession, and helped in turning GDP growth from negative to positive. Of course, I would've suggested a different mix of spending and tax cuts... All good points Link to comment Share on other sites More sharing options...
pBills Posted July 5, 2011 Share Posted July 5, 2011 Man, I guess that stimulus should have gone to build more bridges to nowhere. Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 5, 2011 Share Posted July 5, 2011 From my perspective the fiscal stimulus did what it was supposed to do-- We were told it would keep unemployment under 8%. It didn't even come close. You know you've been a Bills fan too long when you are able look at an abysmal failure and find comfort in the fact that the failure somehow accomplished something positive. "Yes, we lost by 42, but the team said it was committed to running the ball this year, and we just got over 120 on the ground against the third ranked defense. So yeah, we failed everywhere else for the fifth straight week, but it looks our running game is finally showing some green shoots." I guess when everything is failing, anything looks good. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted July 5, 2011 Share Posted July 5, 2011 So? The point wasn't just to create jobs it was to halt the crippling process of de-flation. So the stimulous was meant to pump money into the economy to "stimulate" consumer spending which would then create other jobs down the line. Link to comment Share on other sites More sharing options...
3rdnlng Posted July 5, 2011 Share Posted July 5, 2011 Man, I guess that stimulus should have gone to build more bridges to nowhere. And again, pBrain comes up with brilliant commentary. Link to comment Share on other sites More sharing options...
Magox Posted July 5, 2011 Share Posted July 5, 2011 (edited) Actually, the stimulus didnt do what it was suppose to do. Im pretty sure I remember seeing graphs and projections of what it was "suppose" to do before the bill was signed into law. The spin placed by the white house and their surrogates was that it was only "suppose" to stop the recession BEFOREHAND. Thats a tough to sell to make considering that they stated the goals and projections of the stimulus, in which it failed miserably and two, the economy doesnt really seem to be improving that much. Edited July 5, 2011 by Magox Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 5, 2011 Share Posted July 5, 2011 April 23, 2010. Joe Biden: "All in all we're going to be creating somewhere between 100[,000] and 200,000 jobs next month, I predict," Biden said, according to a pool report, adding that he "got in trouble" for a job growth prediction last month. "Even some in the White House said, 'Hey, don't get ahead of yourself.' Well, I'm here to tell you, some time in the next couple of months, we're going to be creating between 250,000 jobs a month and 500,000 jobs a month." This week Biden will be introducing a new program: "Summer of Recovery 2011: Annnnytime now." Link to comment Share on other sites More sharing options...
TPS Posted July 6, 2011 Share Posted July 6, 2011 We were told it would keep unemployment under 8%. It didn't even come close. Who is "we" and who was it that told this to "we"? My perspective is that government deficits and stimulus helped stabilize and prevent this recession from becoming a depression. As I stated here in September 2008, we would find out if monetary and fiscal policies could prevent the US and global economies from melting down, and they did. Without those interventions, this would have been worse than the 1930s. Prior to the collapse in 1930, only the business sector was signficantly over-leveraged. In this crisis, households, businesses, and financial firms were all significantly over-leveraged. The FED bailed out the banking sector, and large federal deficits have helped create surpluses in the business sector. It's the household sector that continues to be a drag on the economy as it is still deleveraging. Also, much of the federal stimulus has been offset by state and local government contractions. My expectation about the level of unemployment (and I made a presentation about this) was that it would not reach the peak of the 1981-2 Reagan/volcker recession, which was 10.8%. My argument was that the 1981-2 recession was engineered by the FED through high interest rates in order to wring inflation out of the economy--monetary policy was tight and fiscal policy was loose. In this case, they (monetary and fiscal policies) used everything including the kitchen sink to prevent the global meltdown. Unemployment peaked at 10.1% in this one. Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 6, 2011 Share Posted July 6, 2011 Who is "we" and who was it that told this to "we"? My perspective is that .... No one gives a crap what your perspective is. What they give a crap about is that almost a trillion dollars were handed out, primarily to union idiots, based on a report by THE top two economic advisors to Obama and Biden (Christina Romer and Jared Bernstein) entitled "The Job Impact of the American Recovery and Reinvestment Plan", which specifically stated to the world (otherwise known as "we") that the stimulus bill would keep unemployment from reaching 8%. The simple fact that you are asking that question means one of two things: you're an idiot who somehow missed that report, or you believe the president, himself, gets a pass because, technically, it wasn't Obama who said it. It was just some advisors, in which case let me point out that if you're stupid enough to believe that, you'll be smart enough to speak up the next time Obama and Biden start talking about how Obama killed Bin Laden. This idiocy will haunt him in 2012. Link to comment Share on other sites More sharing options...
....lybob Posted July 6, 2011 Share Posted July 6, 2011 No one gives a crap what your perspective is. What they give a crap about is that almost a trillion dollars were handed out, primarily to union idiots, based on a report by THE top two economic advisors to Obama and Biden (Christina Romer and Jared Bernstein) entitled "The Job Impact of the American Recovery and Reinvestment Plan", which specifically stated to the world (otherwise known as "we") that the stimulus bill would keep unemployment from reaching 8%. The simple fact that you are asking that question means one of two things: you're an idiot who somehow missed that report, or you believe the president, himself, gets a pass because, technically, it wasn't Obama who said it. It was just some advisors, in which case let me point out that if you're stupid enough to believe that, you'll be smart enough to speak up the next time Obama and Biden start talking about how Obama killed Bin Laden. This idiocy will haunt him in 2012. link to actual report Link to comment Share on other sites More sharing options...
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