Even CNN Recognizes the Stimulus Didn't Do Much for the Country

[NYcarbineer]

So the 300 billion in tax cuts and credits that were in the stimulus didn't work, right? That's the conservative consensus?

 

[NYcarbineer]

Well, something happened last year:

JOB LOSS/GAIN

 

[The Rabbi]

So the 300 billion in tax cuts and credits that were in the stimulus didn't work, right? That's the conservative consensus?

No the $800B in spending is what didnt work. Or did you miss that memo?

 

[NYcarbineer]

So the 300 billion in tax cuts and credits that were in the stimulus didn't work, right? That's the conservative consensus?

No the $800B in spending is what didnt work. Or did you miss that memo?

How many jobs did the tax cuts create?

 

[NYcarbineer]

So the 300 billion in tax cuts and credits that were in the stimulus didn't work, right? That's the conservative consensus?

No the $800B in spending is what didnt work. Or did you miss that memo?

They count the tax cuts as a cost - in lost revenues - when they cite the cost of the bill. I guess you didn't know that.

Tax cuts were the single biggest item:

 

[The Rabbi]

So the 300 billion in tax cuts and credits that were in the stimulus didn't work, right? That's the conservative consensus?

No the $800B in spending is what didnt work. Or did you miss that memo?

How many jobs did the tax cuts create?

Probably none, just like the rest of the bill. Democrats believe that all conservatives think cutting taxes creates jobs. It isn't true. Some tax cuts do, some don't.
The ones the Democrats push are the latter kind.

 

[Flopper]

Well, something happened last year:

JOB LOSS/GAIN

I think this chart speaks for itself.

 

[Vast LWC]

Well, something happened last year:

JOB LOSS/GAIN

I think this chart speaks for itself.

That is a very nice chart, I think I'll just have to quote it again.

 

[NYcarbineer]

No the $800B in spending is what didnt work. Or did you miss that memo?

How many jobs did the tax cuts create?

Probably none, just like the rest of the bill. Democrats believe that all conservatives think cutting taxes creates jobs. It isn't true. Some tax cuts do, some don't.
The ones the Democrats push are the latter kind.

Tax cuts without spending cuts create a deficit, which stimulates the economy by pumping borrowed money into it without paying back the loans.

Reaganomics - in reality, as opposed to theory.

 

[NYcarbineer]

Well, something happened last year:

JOB LOSS/GAIN

I think this chart speaks for itself.

That is a very nice chart, I think I'll just have to quote it again.

It's been nicknamed the Bikini Graph, based on its shape.

 

[Tom Clancy]

Well, something happened last year:

JOB LOSS/GAIN

Hmm..

Source?

 

[skookerasbil]

I know most of us level headed people already new this but now even CNN is starting to figure this out.... Is hell freezing over?????

Economists say the stimulus didn't help - Apr. 26, 2010

Bash CNN up one side and down the other on a daily basis for being "liberally biased" and then, when they finally say something the cons like, it's, "Even CNN" has figured this out.

Once again, the Republican Noise Machine figures out a way to make lemons out of lemonade.

LOL........but the real poop of the first year of the Obama administration is the following legacy: epic fail of the largest program of its kind in the history of the world. History will view it as a complete hoax!! Only the real k00ks can still defend it when even the lefty media outlets term it an unmitigated failure!!

 

[skookerasbil]

Heres what the internet k00ks never quite get................

They fall all over themselves trying to post up graphs and tables from some far reaches of the netherland internet but the only thing that matters is public perception. As they say, reality is 95% perception. Even the dimmest of the dim are well aware that the 2009 stimulus program was a total sham and didnt do shit for jobs.

 

[xsited1]

Well, something happened last year:

JOB LOSS/GAIN

I think this chart speaks for itself.

It speaks volumes. So does this one:

 

[xsited1]

So the 300 billion in tax cuts and credits that were in the stimulus didn't work, right? That's the conservative consensus?

That's a fact. It has nothing to do with liberals or conservatives. What I find amusing is how the government can spend, say, $300,000 to "save" a $50,000 job and the Democrats somehow think that's great. Even elementary school kids know that's just stupid. Imagine the amount of brainwashing required for an adult to believe that.

 

[The Rabbi]

How many jobs did the tax cuts create?

Probably none, just like the rest of the bill. Democrats believe that all conservatives think cutting taxes creates jobs. It isn't true. Some tax cuts do, some don't.
The ones the Democrats push are the latter kind.

Tax cuts without spending cuts create a deficit, which stimulates the economy by pumping borrowed money into it without paying back the loans.

Reaganomics - in reality, as opposed to theory.

Wow, are you stupid.
Where do you think gov't gets that money from? Think Obama just reaches into his stash somewhere?
Targetred tax cuts create more tax revenue. That was the case with Bush. That was the case with Reagan. And that was the case with Kennedy.
Nice try though.

 

[Toro]

From the article.

In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years -- but a majority of respondents felt the fiscal stimulus had no impact.

That's probably correct. The stimulus probably didn't have much of an impact on job growth this quarter.

Why?

Because most of the stimulus spent thus far was either tax cuts or extensions of social programs, either directly or indirectly to the states. Relatively little has gone into infrastructure spending.

Most of the tax cuts almost certainly went into savings. The savings rate jumped something like 8% during the recession as people hunkered down for the recession. So its not surprising that tax cuts would have little effect on job growth thus far.

Extensions of social programs are not designed to create jobs. They are designed to stop things from getting worse and stop destroying jobs. So this probably had little to do with job growth the past quarter.

The economy appears to be rebounding faster than expected. What it means is that the infrastructure spending - outside of what would be considered "normal" infrastructure spending - probably isn't necessary and should be cut.