boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
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A new study by economists Timothy Conley and Bill Dupor shows that the Obama Stimulus Spending Binge:
- Saved or created 450,000 government jobs
- Destroyed or forstalled 1,000,000 private sector jobs
That sounds about right.
"Our benchmark results suggest that the ARRA created/saved approximately 450 thousand state and local government jobs and destroyed/forestalled roughly one million private sector jobs. State and local government jobs were saved because ARRA funds were largely used to offset state revenue shortfalls and Medicaid increases rather than boost private sector employment. The majority of destroyed/forestalled jobs were in growth industries including health, education, professional and business services."
So the American people borrowed and spent close to a trillion dollars to destroy a net of more than one-half million jobs. Does President Obama understand this? I very much doubt it. When he expressed puzzlement at the idea that the stimulus money may not have been well-spent, and said that "spending equals stimulus," he betrayed a shocking level of economic ignorance.
Power Line - A Verdict on Obama's "Stimulus" Plan
- Saved or created 450,000 government jobs
- Destroyed or forstalled 1,000,000 private sector jobs
That sounds about right.
"Our benchmark results suggest that the ARRA created/saved approximately 450 thousand state and local government jobs and destroyed/forestalled roughly one million private sector jobs. State and local government jobs were saved because ARRA funds were largely used to offset state revenue shortfalls and Medicaid increases rather than boost private sector employment. The majority of destroyed/forestalled jobs were in growth industries including health, education, professional and business services."
So the American people borrowed and spent close to a trillion dollars to destroy a net of more than one-half million jobs. Does President Obama understand this? I very much doubt it. When he expressed puzzlement at the idea that the stimulus money may not have been well-spent, and said that "spending equals stimulus," he betrayed a shocking level of economic ignorance.
Power Line - A Verdict on Obama's "Stimulus" Plan