IF higher taxes will create jobs, why did the stimulus fail?

Discussion in 'Politics' started by JRK, May 19, 2011.

  1. JRK
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    JRK Senior Member

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    I cannot put it any better

    It’s official: Obama’s job stimulus program failed
    TAGS: Examiner editorial failure job stimulus President Barack Obama unemployment rate
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    By: Examiner Editorial 01/22/11 10:00 PM
    Democrats have lambasted Republicans for years for believing in “Voodoo economics.” Well, the evidence is mounting that economic superstition is alive and well in the nation’s political circles, though it has nothing to do with a fondness for tax cuts.

    It’s instead the crazy belief that the government can spend its way to prosperity for the rest of us. Analyzing this conclusion, the House Ways and Means Committee recently released a report titled “It’s Official: On Unemployment and Jobs, Democrats’ 2009 Stimulus Was a Huge Failure.”

    The Ways and Means report provides a number of striking reminders about the predictions the White House made in January 2009 while urging the passage of their $814 billion Keynesian spending bill. By January 2011, the stimulus bill was supposed to have lowered the unemployment rate to 7 percent. It now stands at 9.4 percent, and the report notes that “the unemployment rate would be 11.3 percent if it included all the ‘invisible unemployed’ — American workers who have simply given up looking for work.” The report also said that the stimulus was supposed to create 3.7 million jobs by now, for a total of 137.6 million jobs in the American economy. Currently, there are 130.7 million jobs. Since the stimulus’ passage, 47 of the 50 states have lost jobs; overall, the private sector has seen 1.8 million jobs disappear.

    Note as well that unemployment currently is slightly above what the White House predicted it would be if the Obama stimulus program was not passed as emergency legislation. Any honest assessment of the stimulus has to consider the possibility that flawed economics, kickbacks to unions and other Democratic special interests, corruption and an inefficient bureaucracy simply swallowed all the jobs for which those billions were supposed to pay. In fact, job creation exceeded the White House’s expectations in only one area: The District of Columbia created almost twice as many jobs as the White House anticipated. In other words, thanks to the stimulus, the only area growing new jobs is the federal government.



    Read more at the San Francisco Examiner: It
     
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  2. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    Trickle up prosperity(well in this case poverty) is a giant fail thats why, it is way less effective than trickle down economics.
     
  3. JRK
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    JRK Senior Member

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    I like your quote from Kennedy
    I post these threads for information hoping to educate the voter
    Obama's $825B stimulus plan includes spending, tax cuts - USATODAY.com
    the stimulus was the same as having about 225 billion dollars of revenue added to the bottom line and spent by the federal govt per year as I understand it
     
  4. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    I heard a blip on the radio that I have yet to verify myself. It said that for every public sector job created with the stimulus 2 or more private sector jobs were lost.

    The government is not, and never has been, the answer to problems in the USA. Their track record is horrid.

    What did R.R. say? The 9 scariest words in the english language are "I'm from the government and I'm here to help"

    EDIT: I like the qoute too, obviously, and I use to to remind myself to keep my mind wide open and forward looking.
     
  5. JRK
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    JRK Senior Member

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    Every president has had different challenges
    Bush and his no child left behind along with his Medicare program needed to be paid for
    we got so close to having this thing where we needed it in 07 and people stopped paying there bills
    its that simple
    everyone was over extended

    THE BUSH RECORD - FACT SHEET: Empowering Medicare Beneficiaries With Affordable Options
    Competition Is Helping To Reduce Medical Costs For Consumers And Taxpayer

    Private sector competition has resulted in more innovation and flexibility in coverage. Under President Bush's Medicare Part D policy, private health plans compete by providing better coverage at affordable prices – helping to control the costs of Medicare by marketplace competition, not government price-setting.

    The estimated costs of this program to taxpayers have declined nearly 38 percent since enactment. Costs to taxpayers are projected to be about $240 billion lower than originally estimated for 2004-2013. From 2006 to 2013, States are expected to spend about $25 billion less than originally projected.

    In addition to the government savings, beneficiaries are also spending less than originally estimated. The average premium that beneficiaries paid for a standard prescription drug benefit in 2008 was roughly $25 per month, nearly 40 percent lower than original estimates.
    Beneficiaries Are Satisfied With Medicare Prescription Drug Coverage

    Overall satisfaction is very high. Public opinion surveys in 2007 indicate satisfaction rates of over 85 percent.

    87 percent – Wall Street Journal/Harris Interactive (December 2007)
    86 percent – VCR Research/Medicare Rx Education Network (November 2007)
    89 percent – KRC for Medicare Today (October 2007)
    According to the 2008 Medicare Today Survey:

    80 percent said that their plan covers all medicines.
    84 percent indicated that their total out-of-pocket costs are reasonable.
    95 percent responded that their plan was convenient to use.
    86 percent said that their co-payments and premiums were affordable.
     
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  6. RDD_1210
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    RDD_1210 Forms his own opinions

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    If cutting taxes for the rich creates jobs why is unemployment still where it is?
     
  7. Truthmatters
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    Hume falsely claims that the stimulus failed | Media Matters for America


    Independent and private analysts: Stimulus significantly raised employment
    CEA: ARRA raised employment "by between 2.5 and 3.6 million." In its fourth quarterly report on the American Recovery and Reinvestment Act [ARRA] of 2009, the White House's Council of Economic Advisers (CEA) stated that "as of the second quarter of 2010, the ARRA has raised employment relative to what it otherwise would have been by between 2.5 and 3.6 million. These estimates are broadly consistent with the direct recipient reporting data available for 2010:Q1."

    CBO estimates stimulus increased employment by up to 3.3 million jobs. The nonpartisan Congressional Budget Office (CBO) estimated in August that as of the second quarter of 2010, the stimulus "ncreased the number of people employed by between 1.4 million and 3.3 million."


    Go to the link and find the rest of the LONG list of experts who said the stimulus worked.
     
    Last edited: May 19, 2011
  8. PLYMCO_PILGRIM
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    Because the stimulus spending went to cronies instead of productive job creators and the tax cuts were for everyone with the rich getting the lowest percentage cut out of all groups.
     
  9. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Oh boy, "Media Matters"..


    :lol::lol::lol::lol:
     
  10. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    We cut taxes on the rich?
     
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