CBO: Effects of the Stimulus Spending Are Now 'Diminishing'

Discussion in 'Economy' started by ScreamingEagle, Nov 30, 2010.

  1. ScreamingEagle
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    ScreamingEagle Gold Member

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    Obama's big stimulus PEAKED during the "Summer of Recovery".....:lol:....

    Does anybody question that it's time for the Republicans to take over....?

     
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  2. WillowTree
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    WillowTree Diamond Member

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    A trillion dollars pissed away. For what? For what? For what?
     
  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    This is hardly a revelation to anyone who understands economics in the first place.
     
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  4. Truthmatters
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    there was a big oil spill right in the middle of that summer.

    That doesnt mean anything right?
     
  5. WillowTree
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    WillowTree Diamond Member

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    I think the trillion was pissed away before the oil was spilled moron. Whatever that means.
     
  6. ScreamingEagle
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    ScreamingEagle Gold Member

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    yep....but socialist/communists don't understand economics....
     
  7. Truthmatters
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    concludes that the Recovery Act raised the GDP, lowered unemployment, and increased the number of people with jobs
     
  8. Truthmatters
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    Jobs: CBO counts them differently than the Recovery Act, but concludes based on economic models that in just the third quarter, July through September, stimulus spending “increased the number of people employed by between 1.4 million and 3.6 million.” (Vice President Biden claims “millions” of jobs have been created and at one point forecast 500 thousand additional jobs a month, an optimistic prediction that did not come true in monthly government reports.)

    Impact: Without declaring the impact over, CBO estimates 70% of the budget impact ended with fy2010. It suggests the impact on growth peaked and is now “diminishing” and the impact on unemployment will “wane gradually” in the current fourth quarter.
     
  9. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Krugman think the stimulus needed to be bigger like um $2 trillion or $4 trillion, maybe $6 trillion and then unemployment would have plummeted to 9.5%
     
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  10. CrusaderFrank
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    CrusaderFrank Diamond Member

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    The Stimulus saved or created ( fill in the blank) jobs.
     
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