cowardly SOB's released bad news Friday evening

[whitehall]

The Obama administration released the bad news that the "stimulous" was a failure on a Friday evening before a holiday when they thought nobody would notice. Each taxpayer funded job cost $270,000. Everyone saw Barry joke about it with the sarcastic comment "the shovel ready jobs weren't shovel ready". Unemployment is "officially" at 9.1% while it is probably way over the magic number of 10%. The lame excuse now is that "it could have been worse" while experts say that the economy would have rebounded quicker without the "stimulous" package causing massive debt and higher energy prices.

 

[rightwinger]

Interesting...

Do you have a link to where they said it was a failure?

 

[Soggy in NOLA]

Interesting...

Do you have a link to where they said it was a failure?

You need a link to demonstrate it was a failure?

 

[rightwinger]

Interesting...

Do you have a link to where they said it was a failure?

You need a link to demonstrate it was a failure?

Yes, provide one if you are able

 

[California Girl]

Interesting...

Do you have a link to where they said it was a failure?

You need a link to demonstrate it was a failure?

Of course he does. He chose the "liberal" method of 'thinking'.... have your thoughts provided to you by the media outlet of your political affiliation. Therefore, if MSNBC or the HuffPuff don't say it, it ain't true.

Pity the fool.

 

[Si modo]

Interesting...

Do you have a link to where they said it was a failure?

You need a link to demonstrate it was a failure?

Yes, provide one if you are able

Obama

Link to 7th Quarterly report contained therein.

....

The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.

....

Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

 

[kiwiman127]

Without a link, I'd still believe the very foundation of this thread's OP,,,that the White House released bad news on a Friday.
The reason I believe this end of the OP is because releasing bad news on late Friday afternoons, (and primarily preceding a long weekend), seems to be a practice that has been used by not only this administration but also previous administrations.
I remember the Bushies doing it and I'd bet Clinton did it too.
It's a practice that ensures very little awareness by the general public, even if the action is widely discussed on the Sunday morning talks shows, because not too many people are watching the news in large doses.

 

[rightwinger]

Interesting...

Do you have a link to where they said it was a failure?

You need a link to demonstrate it was a failure?

Of course he does. He chose the "liberal" method of 'thinking'.... have your thoughts provided to you by the media outlet of your political affiliation. Therefore, if MSNBC or the HuffPuff don't say it, it ain't true.

Pity the fool.

You believe that just because Rush Limbaugh and Hannity have screamed "Failed Stimulus" since it passed that makes it so?

Again to the OP....show where the Obama administration has stated that it has failed

 

[Baruch Menachem]

If you are a true believer in Keynesian stimulus, it was a tremendous success. If you a person like me who thinks it is a truck load of organic bovine fertilizer, it was an abject failure. The trouble is, we will never know the truth either way. there was no experimental control to demonstrate what would have happened without it. True believers will insiste that without it, we would have been seeing lot higher rates of unemployment can point to the fact it was only 10%. The doubting thomases can just say it is over the rate he said it would be.

I do believe allowing the market to clear would have been tremendously more painful short term, but that the recession/depression we are currently enjoying would have been over a great deal sooner. there may be an infinite number of universes, but unless we visit one, we will never know.

[ame="http://www.youtube.com/watch?v=dgWYSdva8Jo"]in a different universe....[/ame]

 

[masquerade]

.... sits wondering why some in this thread are still waiting on a link ....

 

[whitehall]

It's become typical of the administration. Any bad news that they are forced to released is done quietly on a Friday evening. This time it was a double header. Obama's people released the story that the "stimulous" had failed on a Friday before a holiday. If the image of the smirking president jokingly commenting "the shovel ready jobs weren't exactly shovel ready (yuk yuk)" wasn't enough the numbers released quietly Friday indicate that every job created cost $278,000 per job. The lame excuse is that "things could have been worse" but experts say that the economy would have rebounded quicker without the massive stimulous spending.

 

[rightwinger]

The stimulus did what it was expected to do, provide an influx of capital into an economy that was bordering on collapse. Private industry was not willing to risk capital in that type of economy, as a matter of fact, they are unwilling to do so even today

The jobs added to the economy reversed a trend that was losing 700,000 jobs a month. It failed to replace all the jobs that had been lost simply because there was not enough money. When the stimulus money ran out and the economy was left to private industry to handle.....it stagnated

The Government did what it could to reverse an economic collapse. Private investment balked at helping the economy in 2008-2009 and they balk at helping it now

The analysis indicates that the Recovery Act has raised the level of GDP substantially relative to what it otherwise would have been and has saved or created between 2.4 and 3.6 million jobs as of the first quarter of 2011.

 

[California Girl]

Friday is known as 'the day to bury bad news'. It stinks of cowardice, but no more so than previous administrations - and pretty much anyone else who wants to hide shit.

 

[rightwinger]

More on why we need to see the actual report and not rely on the rightwing misrepresentation of what it says

Following previous reports, this report estimates the role of the Recovery Act in two ways. One uses estimates of the effects of fiscal policy from standard macroeconomic forecasting models. The second involves a comparison of the actual behavior of GDP and employment relative to a plausible, statistically-determined baseline. The two methods indicate that the ARRA has raised both GDP and employment substantially relative to what they otherwise would have been. A compilation of estimates from prominent private-sector and
public-sector analysts across the ideological spectrum shows similar estimated impacts of ARRA. The available direct job creation data provided by a fraction of ARRA fund recipients further corroborate the estimates of the overall impact of the Act.

 

[daveman]

You believe that just because Rush Limbaugh and Hannity have screamed "Failed Stimulus" since it passed that makes it so?

You believe it worked only because Obama told you so.

 

[California Girl]

You need a link to demonstrate it was a failure?

Of course he does. He chose the "liberal" method of 'thinking'.... have your thoughts provided to you by the media outlet of your political affiliation. Therefore, if MSNBC or the HuffPuff don't say it, it ain't true.

Pity the fool.

You believe that just because Rush Limbaugh and Hannity have screamed "Failed Stimulus" since it passed that makes it so?

Again to the OP....show where the Obama administration has stated that it has failed

I believe it, because I've read the actual release.... fucking idiot. I don't listen to Limbaugh any more than I do to any other pundit. I guess the concept of searching for information, verifying it and forming an opinion is so foreign to you that you cannot imagine that any individual is capable of such. More fool you.

 

[rightwinger]

Could the $800 billion spent on the stimulus have been better spent and achieved better results?

There is no question that it could have. The Stimulus Bill demonstrates what happens when you give a pot of money to politicians and ask them to spend it.

First thing that they did wrong was use 40% of the money for tax breaks rather than directing at specific jobs. The savings in tax went to reducing private debt and paying bills....it did not create jobs

The second problem was giving the money to individual states to distribute rather than from a central pot of money. Many states did not use the money to support public works projects but used it to plug gaps in their budgets and keep from raising taxes

In any case, Stimulus saved or created 2.5 million to 3 million jobs in a time when the private sector was shedding jobs at 700,000 a month. Ask many teachers, firefighters and policemen if they think the stimulus helped

 

[xsited1]

Could the $800 billion spent on the stimulus have been better spent and achieved better results?

There is no question that it could have. The Stimulus Bill demonstrates what happens when you give a pot of money to politicians and ask them to spend it.

First thing that they did wrong was use 40% of the money for tax breaks rather than directing at specific jobs. The savings in tax went to reducing private debt and paying bills....it did not create jobs

The second problem was giving the money to individual states to distribute rather than from a central pot of money. Many states did not use the money to support public works projects but used it to plug gaps in their budgets and keep from raising taxes

In any case, Stimulus saved or created 2.5 million to 3 million jobs in a time when the private sector was shedding jobs at 700,000 a month. Ask many teachers, firefighters and policemen if they think the stimulus helped

Stop trying to make shit up. 40% was not spent on tax breaks. 40 percent of Americans pay no federal incomes taxes and the administration has simply increased subsidy checks to this group. Obama’s refundable tax credits are unearned subsidies, not tax cuts. And there's no evidence that any jobs were saved. You and Obama were warned:

"There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy."

— PRESIDENT-ELECT BARACK OBAMA, JANUARY 9 , 2009
With all due respect Mr. President, that is not true.

Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan's "lost decade" in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today. To improve the economy, policy makers should focus on reforms that remove impediments to work, saving, investment and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth.

Link

 

[rightwinger]

Could the $800 billion spent on the stimulus have been better spent and achieved better results?

There is no question that it could have. The Stimulus Bill demonstrates what happens when you give a pot of money to politicians and ask them to spend it.

First thing that they did wrong was use 40% of the money for tax breaks rather than directing at specific jobs. The savings in tax went to reducing private debt and paying bills....it did not create jobs

The second problem was giving the money to individual states to distribute rather than from a central pot of money. Many states did not use the money to support public works projects but used it to plug gaps in their budgets and keep from raising taxes

In any case, Stimulus saved or created 2.5 million to 3 million jobs in a time when the private sector was shedding jobs at 700,000 a month. Ask many teachers, firefighters and policemen if they think the stimulus helped

Stop trying to make shit up. 40% was not spent on tax breaks. 40 percent of Americans pay no federal incomes taxes and the administration has simply increased subsidy checks to this group. Obama’s refundable tax credits are unearned subsidies, not tax cuts. And there's no evidence that any jobs were saved. You and Obama were warned:

"There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy."

— PRESIDENT-ELECT BARACK OBAMA, JANUARY 9 , 2009
With all due respect Mr. President, that is not true.

Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan's "lost decade" in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today. To improve the economy, policy makers should focus on reforms that remove impediments to work, saving, investment and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth.

Link

No question that 40% went to reducing taxes..

The reason 40% pay no taxes is because in order for Republicans to sell their tax cuts to the American people, they had to offer token cuts to working Americans and dropped them below the line

Looks like Republicans are trying to take back those cuts to working Americans while they fight to the death to keep the cuts for the wealthy