CBO: Obama stimulus still boosting jobs

[NYcarbineer]

If the stimulus was as big a failure as the Right would have us believe, then they wouldn't have to lie about it to make the case.

 

[Oldstyle]

If the stimulus was as big a failure as the Right would have us believe, then they wouldn't have to lie about it to make the case.

If the stimulus was a success you progressives wouldn't have had to come up with that whole "jobs saved" thing. Fact is, you guys went all in with a Keynesian approach and it didn't work. If it HAD worked, Larry Summers and Christina Romer wouldn't have tucked tail and run back to academia.

We don't have to "lie" to make our case. The stimulus was supposed to stimulate the economy. It didn't. It was supposed to lower the unemployment number. It didn't.

 

[CrusaderFrank]

CBO is correct, the Stimulus generated 75 new Republican jobs in Congress

 

[Gallagher]

I doubt if that's true. The stimulus money tends to push out private investment and also is an inefficient way to allocate resources. The private economy creates the wealth that allows government to function, and while a certain level of government expenditure is necessary, it should have the goal of facilitating the private sector, not crowding it out.

 

[dcbl]

Obama's 2009 stimulus is still boosting jobs

The $825 billion economic stimulus law signed by President Obama in February 2009 is still having a positive impact on the economy some 30 months later, according to the nonpartisan Congressional Budget Office.

In its latest quarterly report, the agency said the law's combination of aid to states and localities, public works projects, tax cuts and other spending increased the number of people with jobs by 1 million to 2.9 million between April and June of this year.

It said the law lowered the unemployment rate for that quarter by 0.5 to 1.6 percentage points -- meaning the rate could have been above 10% without the law's stimulative provisions. And it said the law boosted economic growth in that quarter by 0.8% to 2.5%.





And to think....EVERY Republican voted against the stimulus

Absolutely still producing jobs!

now, will the class repeat after me, "Do you want fries with that?"

What a great way to "stimulate" the economy...

 

[CrusaderFrank]

If the stimulus was as big a failure as the Right would have us believe, then they wouldn't have to lie about it to make the case.

Is the UAW better off now than it was 4 years ago?

 

[Flopper]

The only people who doubt the stimulus worked are right wing hacks.


The same ones who deny science to retain their historically failed ideas.

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

 

[bigrebnc1775]

The only people who doubt the stimulus worked are right wing hacks.


The same ones who deny science to retain their historically failed ideas.

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

Who would use such an argument to get a stimulus bill passed into law? Hint it wasn't the Republicans. Someone had to tell that lie to pressure congress into passing it. Who would have done that flago?

 

[Oldstyle]

The only people who doubt the stimulus worked are right wing hacks.


The same ones who deny science to retain their historically failed ideas.

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

So when the head of Barack Obama's Council of Economic Advisers, Christina Romer gets put out in front of a press conference at the White House to state that if the Obama stimulus is passed it will keep unemployment under 8%, Barack gets a pass on the responsibility for not being able to deliver? That's amusing. Look, you can't trot one of YOUR people out to sell the American people on the merits of YOUR plan and then pretend it wasn't something "you" promised.

Of course when you've misjudged things as badly as they did...and that goes for Obama...right on down through Larry Summers and Christina Romer...it's only natural to try and deny that it was something that YOU promised. It's just one more example of this President not wanting to take responsibility for policy mistakes made by his Administration.

 

[Flopper]

I doubt if that's true. The stimulus money tends to push out private investment and also is an inefficient way to allocate resources. The private economy creates the wealth that allows government to function, and while a certain level of government expenditure is necessary, it should have the goal of facilitating the private sector, not crowding it out.

It's hard see how the stimulus bill has pushed out any private investment. First of all 288 billion, 36% of the 787 billion were tax cuts. Secondly most of the remainder went to state and local government, education, public safety, road construction, etc... A relatively small amount went to the private sector.



PolitiFact | Stewart claims that the stimulus bill is one-third tax cuts

 

[Rozman]

it does not take rocket science to know that if you take a half a trillion dollars and dedicate it to creating jobs, it will create jobs.

That was never the issue.

The issue was "can we do things better, more effectively, and not have to borrow a trillion dollars to do it.

The GOP, and conservatives believed more jobs would have been created by borrowing no money at all and instead concentrate all efforts to incentivize the private sector to expand and thus hire.

lol...I love how you guys tout the obvious as "a great thing"....

Anyone do the math yet? How much did each job cost us in borrowed money and how much of that cost does the "employee" actually recieve?

We have seen what happens when Republicans throw money at the private sector...they keep it

The Economic Stimulus was not meant to be an end in itself. It was meant to prime the economic pump and shore up a failing economy. The stimulus did what it was intended to do. namely, stop and economic collapse and get the economy on a stable footing. It is the private sector who failed us. They sit on $2.5 trillion and refuse to do anything to stimulate economic growth.

Good ....If you loved Stimulus I you will love Stimulus II... Just wait Till Obama gets back and goes for a huge Infrastructure spending bill to get jobs for people because there are so many people out of work for a few years now......

But wait, didn't you just say Stimulus I was such a huge success?......

 

[Flopper]

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

So when the head of Barack Obama's Council of Economic Advisers, Christina Romer gets put out in front of a press conference at the White House to state that if the Obama stimulus is passed it will keep unemployment under 8%, Barack gets a pass on the responsibility for not being able to deliver? That's amusing. Look, you can't trot one of YOUR people out to sell the American people on the merits of YOUR plan and then pretend it wasn't something "you" promised.

Of course when you've misjudged things as badly as they did...and that goes for Obama...right on down through Larry Summers and Christina Romer...it's only natural to try and deny that it was something that YOU promised. It's just one more example of this President not wanting to take responsibility for policy mistakes made by his Administration.

Again where was there a promise? The report clearly said it was an estimate and pointed out the margin of error and many assumptions made in making the estimate. Obama sold this bill by pointing out how much the economy would deteriorate it the bill were not passed. On this point he had very strong support.

On February 8, 2009, a letter to Congress signed by about 200 economists in favor of the stimulus, written by the Center for American Progress Action Fund, said that Obama's plan "proposes important investments that can start to overcome the nation's damaging loss of jobs," and would "put the United States back onto a sustainable long-term-growth path." This letter was signed by Nobel laureates Kenneth Arrow, Lawrence R. Klein, Eric Maskin, Daniel McFadden, Paul Samuelson and Robert Solow. The general consensus among non-partisan economic sources including IHS Global Insight, Moody's.com, Economy.com and Macroeconomic Advisers is that the economy would have been far worse without the ARRA.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

 

[Flopper]

it does not take rocket science to know that if you take a half a trillion dollars and dedicate it to creating jobs, it will create jobs.

That was never the issue.

The issue was "can we do things better, more effectively, and not have to borrow a trillion dollars to do it.

The GOP, and conservatives believed more jobs would have been created by borrowing no money at all and instead concentrate all efforts to incentivize the private sector to expand and thus hire.

lol...I love how you guys tout the obvious as "a great thing"....

Anyone do the math yet? How much did each job cost us in borrowed money and how much of that cost does the "employee" actually recieve?

We have seen what happens when Republicans throw money at the private sector...they keep it

The Economic Stimulus was not meant to be an end in itself. It was meant to prime the economic pump and shore up a failing economy. The stimulus did what it was intended to do. namely, stop and economic collapse and get the economy on a stable footing. It is the private sector who failed us. They sit on $2.5 trillion and refuse to do anything to stimulate economic growth.

Good ....If you loved Stimulus I you will love Stimulus II... Just wait Till Obama gets back and goes for a huge Infrastructure spending bill to get jobs for people because there are so many people out of work for a few years now......

But wait, didn't you just say Stimulus I was such a huge success?......

The purpose of the first stimulus bill was to stop the economic slide. This is how Obama sold the bill and this is what it did. The second stimulus bill will be sold by pointing out it will complete the job started by the first stimulus bill, bringing down unemployment to acceptable levels. It will of course have no chance of passing. No doubt many house Republicans will go into Apoplexy and each will have to rave and rant about how this bill will destroy American. Of course the whole purpose is to portray the republicans as obstructionist and the real job killers.

 

[Oldstyle]

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

So when the head of Barack Obama's Council of Economic Advisers, Christina Romer gets put out in front of a press conference at the White House to state that if the Obama stimulus is passed it will keep unemployment under 8%, Barack gets a pass on the responsibility for not being able to deliver? That's amusing. Look, you can't trot one of YOUR people out to sell the American people on the merits of YOUR plan and then pretend it wasn't something "you" promised.

Of course when you've misjudged things as badly as they did...and that goes for Obama...right on down through Larry Summers and Christina Romer...it's only natural to try and deny that it was something that YOU promised. It's just one more example of this President not wanting to take responsibility for policy mistakes made by his Administration.

Again where was there a promise? The report clearly said it was an estimate and pointed out the margin of error and many assumptions made in making the estimate. Obama sold this bill by pointing out how much the economy would deteriorate it the bill were not passed. On this point he had very strong support.

On February 8, 2009, a letter to Congress signed by about 200 economists in favor of the stimulus, written by the Center for American Progress Action Fund, said that Obama's plan "proposes important investments that can start to overcome the nation's damaging loss of jobs," and would "put the United States back onto a sustainable long-term-growth path." This letter was signed by Nobel laureates Kenneth Arrow, Lawrence R. Klein, Eric Maskin, Daniel McFadden, Paul Samuelson and Robert Solow. The general consensus among non-partisan economic sources including IHS Global Insight, Moody's.com, Economy.com and Macroeconomic Advisers is that the economy would have been far worse without the ARRA.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

I'm willing to bet that long list of economists that thought the Obama stimulus was the right way to go in Feb. of '09 has shrunk considerably. Putting the emphasis on Public Sector spending was a liberal economist's wet dream. They told us how wonderful this was going to be and we fell for it. Now to cover their asses they are either running for cover like Romer and Summers...or they are doubling down and saying the stimulus wasn't large enough. Sorry, Flopper but I'm not buying it. Germany didn't spend huge bucks on a stimulus of the Public Sector...how come THEIR economy came back faster than ours?

 

[Missourian]

Liberals: We know we're right and no amount of evidence to the contrary will convince us otherwise.

 

[grunt11b]

Obama's 2009 stimulus is still boosting jobs

The $825 billion economic stimulus law signed by President Obama in February 2009 is still having a positive impact on the economy some 30 months later, according to the nonpartisan Congressional Budget Office.

In its latest quarterly report, the agency said the law's combination of aid to states and localities, public works projects, tax cuts and other spending increased the number of people with jobs by 1 million to 2.9 million between April and June of this year.

It said the law lowered the unemployment rate for that quarter by 0.5 to 1.6 percentage points -- meaning the rate could have been above 10% without the law's stimulative provisions. And it said the law boosted economic growth in that quarter by 0.8% to 2.5%.





And to think....EVERY Republican voted against the stimulus

Yes, that 9% unemployment rate for the last 1-1/2 years is solid proof that it created jobs.

 

[CrusaderFrank]

The only people who doubt the stimulus worked are right wing hacks.


The same ones who deny science to retain their historically failed ideas.

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

Team Obama did. You lost your media monopoly so you either adjust and stop lying or look like an idiot

 

[bigrebnc1775]

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

Team Obama did. You lost your media monopoly so you either adjust and stop lying or look like an idiot

Yes team obama did, but we all know that obama influenced team obama to say it. Couldn't have gotten the stimulus passed without that fear factor of unemployment going above 8%

 

[Jarhead]

The only people who doubt the stimulus worked are right wing hacks.


The same ones who deny science to retain their historically failed ideas.

There is not one single news source, Biased or not. That would dare make the Claim that the Stimulus worked if by worked you mean accomplished what we were told it would, and was cost Effective.

There is no denying that the Stimulus did ease some pain in the Short term. There is also no denying the Debt it added is a Burden.

So when someone says it "Worked" They are being very Generous. It Most Certainly did not keep Unemployment below% as we were Promised. It has never came close to adding the 500k Jobs a month we were Promised. Only a small Percentage of new Jobs created since the Stimulus are Private Sector Jobs.

So to sum it up. If by worked you mean the Stimulus bought some short term GDP growth, and far to few mostly Government Jobs. Then sure it worked.

If by worked you mean delivered on the Promises made about it, and generated appreciable Private Sector Job Growth. The it Sure as hell didn't work.

I know why you are making these BS posts TM. It must be hard seeing your little Liberal world crumble. Projections now show we will be over 8% unemployment for nearly 3 More Years. We were PROMISED it would not even get about 8% if we passed the Stimulus. You have got to be pretty desperate if you are still attempting to Defend Obama's utter failure on the Economy.

And exactly who promised you it would be under 8%? The council of economic advisers estimated it would be under 8%. Only in the mind of a right winger would an estimate be considered a promise.

Excuse me....you seem to forget it was all during a debate.

You see...whereas it was not a promise...it was a prediction that was used to sell the idea over any other idea.

If you recall, it was said

"if we do this, then this will be the projected result.

and then...

"If we DONT do this, then THIS is the projected result"

So that being said, whereas there was no promise made, you had dam well be prepared for criticism if your "projections" do not come to fruition.

Now, also bear in mind...they said their projections, during the debate, were the culmination of intense research and analysis by "top economists"...and they used that to help "sell" the stimulus.

So when they trun around and say "our projections were wrong becuase we did not realize how bad the economy was".....it is saying "the economists we chose to anaylyze sucked at what they did and we ended up selling you a bill of goods"

 

[bigrebnc1775]

If the stimulus was as big a failure as the Right would have us believe, then they wouldn't have to lie about it to make the case.

What was the unemployment rate before the stimulus passed and what is it now?

How many people were recieving food stamps before the stimulus passed and how many are recieving them now?

Come up with those numbers and tell me the stimulus worked and I'll call you a liar.