Obama economists: Stimulus was an epic failure!!!

Discussion in 'Economy' started by skookerasbil, Jul 4, 2011.

  1. skookerasbil
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    skookerasbil Gold Member

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    So........just to set the record straight, what with the k00ks on this forum talking about how wonderful the Obama 2009 economic stimulus was.......which of course, everybody with half a brain knows is a total load of bullshit, apparently, including his ow:D:Dn economists!!!

    How much money was spent per job for the stimulus?

    "$278,000.00 per job....and did little if anything to stimulate the economy!!!!!!!"

    Obama


    From the article.................

    The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. 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.

    In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.





    [​IMG]
     
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    Last edited: Jul 4, 2011
  2. editec
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    editec Mr. Forgot-it-All

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    What the stumulus did was what it was designed to do...keep the states from going broke.
     
  3. Antiderivative
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    Antiderivative BANNED

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    Christina Romer was saying that years ago, but she is a failure herself.

    More fucking idiots.

    I said don't respond and we will come back in 2013. Nowadays, we are done for. We will never get back to our productive capacities, ubless that you think is rampant consumerism.
     
    Last edited: Jul 4, 2011
  4. skookerasbil
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    skookerasbil Gold Member

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    indeed........at $278,000.00 / job.

    [​IMG]


    the snow's gettin' pretty deep here s0n!!!:up:
     
  5. skookerasbil
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    skookerasbil Gold Member

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  6. skookerasbil
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    skookerasbil Gold Member

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  7. skookerasbil
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    skookerasbil Gold Member

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    What a record!

    Here are the details. In April, personal household, inflation-adjusted income rose by $122 billion. Of that increase, one-third -- or $44 billion -- came from the government's stimulus program. But while personal income was rising, household savings (which includes paying down credit-card balances, mortgages, student loans, car loans, etc.) rose by $132 billion -- $10 billion more than the rise in income. So personal consumption dropped 0.1 percent.

    The stimulus package was a total and complete failure. As predicted, as happened with Bush's 2008 tax cut, as happened with the Japanese stimulus packages of the '90s, fearful consumers sat on their money and wouldn't spend it. Keynesian economics didn't work. Again.

    But the debt sure piled up. The deficit quadrupled and is sending interest rates soaring, as the government elbows aside businesses and consumers at the loan window, all in a desperate effort to borrow enough money to spend enough money to stimulate the economy, which isn't happening.

    Keynesian economics doesn't work. The theory for rational expectations has taken its place. Consumers are not idiots. They know that when their paycheck is fatter -- either because of tax cuts or government spending -- that it is not the beginning of Nirvana, but just a short-term, one-shot respite from hard times. They know the difference between standing in front of an electric fan and a windy day.

    Barack Obama has fatally undermined our currency, our solvency, our financial stability and -- ultimately -- our economy, all to spend money that has had no economic effect!

    Is Obama a failure? Not by his lights. His goal was never to stimulate the economy. His goal was to expand government spending, and he used the recession as an excuse to do so.



    RealClearPolitics - The Failure of Obamanomics
     
  8. Gadawg73
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    Gadawg73 Gold Member

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    They are still broke.
     
  9. Gadawg73
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    Gadawg73 Gold Member

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    The stimulus plan had the acceleration of depreciation on business equipment and capital expenses.
    Now Obama wants to end that.
    Guess why.
     
  10. CrusaderFrank
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    CrusaderFrank Diamond Member

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    "President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt."

    It worked just like Failed Leader Obama wanted it to
     

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