Obama economists: Stimulus was an epic failure!!!

[skookerasbil]

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 own 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.

 

[editec]

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

 

[Antiderivative]

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.

 

[skookerasbil]

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

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

the snow's gettin' pretty deep here s0n!!!

 

[skookerasbil]

ps......a huge majority think the stimulus was total BS......and after all, this is a POLITICS forum, so opinions from the nether regions of the internet matter about as much as a rats ass.

Poll: Most Americans think the stimulus didn't help - Andy Barr - POLITICO.com

 

[skookerasbil]

Stimulus......damaged or had no effect =


77%


Poll: Americans Say Bad Economy Will Linger - Political Hotsheet - CBS News

 

[skookerasbil]

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

 

[Gadawg73]

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

They are still broke.

 

[Gadawg73]

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

 

[CrusaderFrank]

"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

 

[skookerasbil]

2008 sucked.....................but its 2011 now s0ns!!!


Time for the k00ks to suck on it for a good while!!!!!!

 

[The T]

(Image: EIB)​

 

[LordBrownTrout]

Stimulus actually cost us jobs. Doesn't take nuclear physics science to figure this stuff out. Here's another jewel, not my words:

"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."

 

[CrusaderFrank]

Stimulus actually cost us jobs. Doesn't take nuclear physics science to figure this stuff out. Here's another jewel, not my words:

"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."

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. ... It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies." -- Barack Hussein Obama, Failed Leader, Community Organizer and low-level socialist agitator

 

[The T]

Stimulus actually cost us jobs. Doesn't take nuclear physics science to figure this stuff out. Here's another jewel, not my words:

"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."

All stimulus did was to launch an attack on private industry, and the private sector in favour of Unions and Government. It was payback by Obama to his supporters.

After all? Obama did say that the private sector is the enemy.

 

[CrusaderFrank]

Stimulus actually cost us jobs. Doesn't take nuclear physics science to figure this stuff out. Here's another jewel, not my words:

"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."

The Stimulus worked like Progressives wanted it to.

See, when Obama and Progressives talk about "Change" they don't mean for the better.

 

[LordBrownTrout]

Stimulus actually cost us jobs. Doesn't take nuclear physics science to figure this stuff out. Here's another jewel, not my words:

"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."

The Stimulus worked like Progressives wanted it to.

See, when Obama and Progressives talk about "Change" they don't mean for the better.

I'll never advocate for handouts of any sort but if they had given everyone 100k, it's quite possible that many would have paid off their debt.

 

[CrusaderFrank]

Stimulus actually cost us jobs. Doesn't take nuclear physics science to figure this stuff out. Here's another jewel, not my words:

"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."

The Stimulus worked like Progressives wanted it to.

See, when Obama and Progressives talk about "Change" they don't mean for the better.

I'll never advocate for handouts of any sort but if they had given everyone 100k, it's quite possible that many would have paid off their debt.

Instead of TARP, QE and Stimulus, the government could have paid off half of every residential mortgage in American.

How would that have been for prosperity?

 

[uscitizen]

So were the Bush stimulus packages failures.

One cannot resurect the dead.
they did however slow the fall a bit and cause the fear factor to be a bit lower than it otherwise would have been.

 

[The Rabbi]

So were the Bush stimulus packages failures.

One cannot resurect the dead.
they did however slow the fall a bit and cause the fear factor to be a bit lower than it otherwise would have been.

Some of the Bush packages were failures. Especially those crafted with Nancy Pelosi.
DO you have a point here, peanut?