Obama stimulus is failed

[StevenC]

Notice the economy tanked again after the Republicans took the house.

But who controls the senate? Who has blocked the bills the repubs have passed in the house? Who refuses to pass a budget? Don't we still have a dem for president?

And the economy never trully recovered unless you believe the stock market is a true reflection of the economy. Why do you think the admin refuses to include food and fuel in inflation numbers?

 

[Truthmatters]

It was a joke my friend.

The right here has tried to claim the house going dem caused the crash in the past.

 

[iamwhatiseem]

Notice the economy tanked again after the Republicans took the house.

Just for you...

 

[BlindBoo]

Where the jobs went.

Shipping Jobs Overseas: How Real Is the Problem?

How Many Jobs Have We Lost?
More than 3 million manufacturing jobs have disappeared since 1998, and the Economic Policy Institute estimates 59 percent—or 1.78 million—of these jobs have been lost due to the explosion in the U.S. manufacturing trade deficit over the period.
Goldman Sachs estimates 400,000–600,000 professional services and information sector jobs moved overseas in the past few years, accounting for about half of the total net job loss in the sector over the period. A Deloitte Research survey found one-third of all major financial institutions are already sending work offshore, with 75 percent reporting they would do so within the next 24 months. A U.C. Berkeley study found 25,000 to 30,000 new outsourcing-related jobs advertised in India by U.S. firms in just one month in 2003.
One service sector hard hit by job losses is information technology, especially software. The pro-outsourcing consulting firm Global Insight estimates we lost 104,000 information technology jobs to offshore outsourcing between 2000 and 2003, more than a quarter of the 372,000 jobs lost in the sector overall during the period. The Economic Policy Institute found employment in U.S. software-producing industries fell by 128,000 jobs from 2000 to early 2004, while about 100,000 new jobs producing software for export to the U.S. were created in India over the same period of time.
States are outsourcing public sector jobs as well, though most state governments do not know exactly how many. At least forty states contract out administration of electronic benefit cards for the food stamps program offshore. In one audit, the state of Washington found 36 out of 41 agencies were contracting out work overseas. A recent study by INPUT Research projects outsourcing of state and local government technology contracts will grow from $10 billion last year to $23 billion in 2008.
From November 2002 to January 2004, the U.S. Department of Labor certified 246,398 workers who lost their jobs due to trade for Trade Adjustment Assistance (TAA). This is in addition to the estimated 1,112,775 workers who were certified for TAA between 1994 and the end of 2002. These figures are very under-inclusive: they only count workers who know about the TAA program, apply for it, and qualify under the program’s strict eligibility requirements. The numbers do not include most service sector workers or workers who have lost their jobs due to shifts in production to China—neither group is eligible for TAA. Nor do they include workers erroneously denied TAA certification by the Labor Department.
The Economic Policy Institute estimates that between 1993 and 2000, our lopsided trade policies, reflected in the explosive increase in the U.S. trade deficit, cost Americans a net 3 million jobs and job opportunities. The growth in the NAFTA trade deficit alone is associated with nearly 900,000 lost jobs and job opportunities through 2002.

 

[The Rabbi]

It was a joke my friend.

The right here has tried to claim the house going dem caused the crash in the past.

Except both the House and Senate went Dem, and the president was OK "working with them" which meant in practice getting bent over by them every Mon and Thurs. And Bush had done the same.

 

[eflatminor]

Were the jobs went.

Shipping Jobs Overseas: How Real Is the Problem?

How Many Jobs Have We Lost?
More than 3 million manufacturing jobs have disappeared since 1998, and the Economic Policy Institute estimates 59 percent—or 1.78 million—of these jobs have been lost due to the explosion in the U.S. manufacturing trade deficit over the period.
Goldman Sachs estimates 400,000–600,000 professional services and information sector jobs moved overseas in the past few years, accounting for about half of the total net job loss in the sector over the period. A Deloitte Research survey found one-third of all major financial institutions are already sending work offshore, with 75 percent reporting they would do so within the next 24 months. A U.C. Berkeley study found 25,000 to 30,000 new outsourcing-related jobs advertised in India by U.S. firms in just one month in 2003.
One service sector hard hit by job losses is information technology, especially software. The pro-outsourcing consulting firm Global Insight estimates we lost 104,000 information technology jobs to offshore outsourcing between 2000 and 2003, more than a quarter of the 372,000 jobs lost in the sector overall during the period. The Economic Policy Institute found employment in U.S. software-producing industries fell by 128,000 jobs from 2000 to early 2004, while about 100,000 new jobs producing software for export to the U.S. were created in India over the same period of time.
States are outsourcing public sector jobs as well, though most state governments do not know exactly how many. At least forty states contract out administration of electronic benefit cards for the food stamps program offshore. In one audit, the state of Washington found 36 out of 41 agencies were contracting out work overseas. A recent study by INPUT Research projects outsourcing of state and local government technology contracts will grow from $10 billion last year to $23 billion in 2008.
From November 2002 to January 2004, the U.S. Department of Labor certified 246,398 workers who lost their jobs due to trade for Trade Adjustment Assistance (TAA). This is in addition to the estimated 1,112,775 workers who were certified for TAA between 1994 and the end of 2002. These figures are very under-inclusive: they only count workers who know about the TAA program, apply for it, and qualify under the program’s strict eligibility requirements. The numbers do not include most service sector workers or workers who have lost their jobs due to shifts in production to China—neither group is eligible for TAA. Nor do they include workers erroneously denied TAA certification by the Labor Department.
The Economic Policy Institute estimates that between 1993 and 2000, our lopsided trade policies, reflected in the explosive increase in the U.S. trade deficit, cost Americans a net 3 million jobs and job opportunities. The growth in the NAFTA trade deficit alone is associated with nearly 900,000 lost jobs and job opportunities through 2002.

So what to do about that?

As a business owner, I can tell you what I did. I shipped some jobs overseas. Why? Because taxes and regulations here in California are overwhelming. The cost saving was substantial, which means more shareholder return. What choice did I have other than to willingly give money away to a government that spends it foolishly?

 

[BlindBoo]

Were the jobs went.

Shipping Jobs Overseas: How Real Is the Problem?

How Many Jobs Have We Lost?
More than 3 million manufacturing jobs have disappeared since 1998, and the Economic Policy Institute estimates 59 percent—or 1.78 million—of these jobs have been lost due to the explosion in the U.S. manufacturing trade deficit over the period.
Goldman Sachs estimates 400,000–600,000 professional services and information sector jobs moved overseas in the past few years, accounting for about half of the total net job loss in the sector over the period. A Deloitte Research survey found one-third of all major financial institutions are already sending work offshore, with 75 percent reporting they would do so within the next 24 months. A U.C. Berkeley study found 25,000 to 30,000 new outsourcing-related jobs advertised in India by U.S. firms in just one month in 2003.
One service sector hard hit by job losses is information technology, especially software. The pro-outsourcing consulting firm Global Insight estimates we lost 104,000 information technology jobs to offshore outsourcing between 2000 and 2003, more than a quarter of the 372,000 jobs lost in the sector overall during the period. The Economic Policy Institute found employment in U.S. software-producing industries fell by 128,000 jobs from 2000 to early 2004, while about 100,000 new jobs producing software for export to the U.S. were created in India over the same period of time.
States are outsourcing public sector jobs as well, though most state governments do not know exactly how many. At least forty states contract out administration of electronic benefit cards for the food stamps program offshore. In one audit, the state of Washington found 36 out of 41 agencies were contracting out work overseas. A recent study by INPUT Research projects outsourcing of state and local government technology contracts will grow from $10 billion last year to $23 billion in 2008.
From November 2002 to January 2004, the U.S. Department of Labor certified 246,398 workers who lost their jobs due to trade for Trade Adjustment Assistance (TAA). This is in addition to the estimated 1,112,775 workers who were certified for TAA between 1994 and the end of 2002. These figures are very under-inclusive: they only count workers who know about the TAA program, apply for it, and qualify under the program’s strict eligibility requirements. The numbers do not include most service sector workers or workers who have lost their jobs due to shifts in production to China—neither group is eligible for TAA. Nor do they include workers erroneously denied TAA certification by the Labor Department.
The Economic Policy Institute estimates that between 1993 and 2000, our lopsided trade policies, reflected in the explosive increase in the U.S. trade deficit, cost Americans a net 3 million jobs and job opportunities. The growth in the NAFTA trade deficit alone is associated with nearly 900,000 lost jobs and job opportunities through 2002.

So what to do about that?

As a business owner, I can tell you what I did. I shipped some jobs overseas. Why? Because taxes and regulations here in California are overwhelming. The cost saving was substantial, which means more shareholder return. What choice did I have other than to willingly give money away to a government that spends it foolishly?

I don't have any suggestions as to what to do. All I wanted was to reference some reasons why we are seeing high unemployement numbers. Well other than it's all Obama's fault. I don't think he had anything to do with the business climate that forced you (and many others) into shipping jobs overseas.

 

[The Rabbi]

The US is a beneficiary of globalization. More jobs are outsourced here from other countries than vice versa.
In any case, in manufacturing more efficient processes are largely responsible for job loss. We produce as much stuff as ever. But the man-hours needed to do so are much less.
Under Bush we were "exporting" jobs as well. But the UE rate never got above 7%. So the reason it is high now must not be because of off shoring.

 

[eflatminor]

Were the jobs went.

Shipping Jobs Overseas: How Real Is the Problem?

How Many Jobs Have We Lost?
More than 3 million manufacturing jobs have disappeared since 1998, and the Economic Policy Institute estimates 59 percent—or 1.78 million—of these jobs have been lost due to the explosion in the U.S. manufacturing trade deficit over the period.
Goldman Sachs estimates 400,000–600,000 professional services and information sector jobs moved overseas in the past few years, accounting for about half of the total net job loss in the sector over the period. A Deloitte Research survey found one-third of all major financial institutions are already sending work offshore, with 75 percent reporting they would do so within the next 24 months. A U.C. Berkeley study found 25,000 to 30,000 new outsourcing-related jobs advertised in India by U.S. firms in just one month in 2003.
One service sector hard hit by job losses is information technology, especially software. The pro-outsourcing consulting firm Global Insight estimates we lost 104,000 information technology jobs to offshore outsourcing between 2000 and 2003, more than a quarter of the 372,000 jobs lost in the sector overall during the period. The Economic Policy Institute found employment in U.S. software-producing industries fell by 128,000 jobs from 2000 to early 2004, while about 100,000 new jobs producing software for export to the U.S. were created in India over the same period of time.
States are outsourcing public sector jobs as well, though most state governments do not know exactly how many. At least forty states contract out administration of electronic benefit cards for the food stamps program offshore. In one audit, the state of Washington found 36 out of 41 agencies were contracting out work overseas. A recent study by INPUT Research projects outsourcing of state and local government technology contracts will grow from $10 billion last year to $23 billion in 2008.
From November 2002 to January 2004, the U.S. Department of Labor certified 246,398 workers who lost their jobs due to trade for Trade Adjustment Assistance (TAA). This is in addition to the estimated 1,112,775 workers who were certified for TAA between 1994 and the end of 2002. These figures are very under-inclusive: they only count workers who know about the TAA program, apply for it, and qualify under the program’s strict eligibility requirements. The numbers do not include most service sector workers or workers who have lost their jobs due to shifts in production to China—neither group is eligible for TAA. Nor do they include workers erroneously denied TAA certification by the Labor Department.
The Economic Policy Institute estimates that between 1993 and 2000, our lopsided trade policies, reflected in the explosive increase in the U.S. trade deficit, cost Americans a net 3 million jobs and job opportunities. The growth in the NAFTA trade deficit alone is associated with nearly 900,000 lost jobs and job opportunities through 2002.

So what to do about that?

As a business owner, I can tell you what I did. I shipped some jobs overseas. Why? Because taxes and regulations here in California are overwhelming. The cost saving was substantial, which means more shareholder return. What choice did I have other than to willingly give money away to a government that spends it foolishly?

I don't have any suggestions as to what to do. All I wanted was to reference some reasons why we are seeing high unemployement numbers. Well other than it's all Obama's fault. I don't think he had anything to do with the business climate that forced you (and many others) into shipping jobs overseas.

Well, I guess you're right in that I don't specifically blame President Obama but I sure as hell blame Progressives like Obama for all the unnecessary regulation and taxes. I heard an interesting statistic the other day which I'll try to paraphrase here: In the 1970s one out of every twenty jobs required some sort of license or was otherwise regulated by the government. Today that number is one out of three. There's a really good indication of why jobs are in short supply in this country.

 

[8537]

Just to clarify, it's not OBAMA's stimulus that failed. ALL stimulus fails...unless of course you're one of connected few to be handed my tax dollars. Keynes was wrong. Friedman/Hayek got it right.

Friedman was a firm supporter of government stimulus. In fact, he blamed the Great Depression primarily on a lack of government stimulus.

you know that, right? Right?

 

[iamwhatiseem]

Once again I feel it is necessary to point out that a VERY big factor in why companies have sought to seek cheap labor is American consumer buying habits. As long as we line up day after day choosing price over value and with no regard where an item is made - we are in fact sending a loud demand to manufacturers - "if you want Americans to buy your product - you better make it a cheap price, and then make it cheaper again and again".

 

[The Rabbi]

Just to clarify, it's not OBAMA's stimulus that failed. ALL stimulus fails...unless of course you're one of connected few to be handed my tax dollars. Keynes was wrong. Friedman/Hayek got it right.

Friedman was a firm supporter of government stimulus. In fact, he blamed the Great Depression primarily on a lack of government stimulus.

you know that, right? Right?

You're an ignoramus of the first order.
You know that, right?

 

[The Rabbi]

Once again I feel it is necessary to point out that a VERY big factor in why companies have sought to seek cheap labor is American consumer buying habits. As long as we line up day after day choosing price over value and with no regard where an item is made - we are in fact sending a loud demand to manufacturers - "if you want Americans to buy your product - you better make it a cheap price, and then make it cheaper again and again".

I dont care where an item is made. I do care that I am getting decent value for my money. If an American company can provide that, great. If not, I'm buying something foreign.
Most people feel that way. And that's fine.

 

[8537]

Just to clarify, it's not OBAMA's stimulus that failed. ALL stimulus fails...unless of course you're one of connected few to be handed my tax dollars. Keynes was wrong. Friedman/Hayek got it right.

Friedman was a firm supporter of government stimulus. In fact, he blamed the Great Depression primarily on a lack of government stimulus.

you know that, right? Right?

You're an ignoramus of the first order.
You know that, right?

^Very clever response. Facts? Who needs facts when you can just make not-very-clever insults?

Yes, you are wrong. Again.

 

[iamwhatiseem]

Once again I feel it is necessary to point out that a VERY big factor in why companies have sought to seek cheap labor is American consumer buying habits. As long as we line up day after day choosing price over value and with no regard where an item is made - we are in fact sending a loud demand to manufacturers - "if you want Americans to buy your product - you better make it a cheap price, and then make it cheaper again and again".

I dont care where an item is made. I do care that I am getting decent value for my money. If an American company can provide that, great. If not, I'm buying something foreign.
Most people feel that way. And that's fine.

What is your definition of value in practice?
Does a part of your definition consider the cause and effect of your consumer choice?
Does a part of your definition include the extraordinary negative effect of placing price as a key factor of why you buy something?

 

[The Rabbi]

Friedman was a firm supporter of government stimulus. In fact, he blamed the Great Depression primarily on a lack of government stimulus.

you know that, right? Right?

You're an ignoramus of the first order.
You know that, right?

^Very clever response. Facts? Who needs facts when you can just make not-very-clever insults?

Yes, you are wrong. Again.

Sez the guy who never provides evidence.
Friedman for Government Intervention: The Case of the Great Depression - Mateusz Machaj - Mises Daily

Friedman is well known for marking the GD down to poor Fed policy reducing the money supply at a critical time.

 

[8537]

You're an ignoramus of the first order.
You know that, right?

^Very clever response. Facts? Who needs facts when you can just make not-very-clever insults?

Yes, you are wrong. Again.

Sez the guy who never provides evidence.
Friedman for Government Intervention: The Case of the Great Depression - Mateusz Machaj - Mises Daily

Friedman is well known for marking the GD down to poor Fed policy reducing the money supply at a critical time.

What do you think increasing the money supply - Friedman's solution the early stages of the Great Depression - is?

Let me give you a hint: It's stimulus. It's the MP equivalent of sending everyone a stimulus check.

Now buy a clue before you start typing.

 

[Vast LWC]

Unemployment Rates:

Feb 1981: 7.4%
May 1983: 10.1%

Feb 2009: 8.4%
May 2011: 9.1%

Which means:

Obama's unemployment record beats Reagan's.

I will, of course, keep posting these figures every single time this subject is brought up....

 

[The Rabbi]

^Very clever response. Facts? Who needs facts when you can just make not-very-clever insults?

Yes, you are wrong. Again.

Sez the guy who never provides evidence.
Friedman for Government Intervention: The Case of the Great Depression - Mateusz Machaj - Mises Daily

Friedman is well known for marking the GD down to poor Fed policy reducing the money supply at a critical time.

What do you think increasing the money supply - Friedman's solution the early stages of the Great Depression - is?

Let me give you a hint: It's stimulus. It's the MP equivalent of sending everyone a stimulus check.

Now buy a clue before you start typing.

Who aren't you a clever boy! Gotcha! We'll call monetary policy "stimulus" just like Obama's stimulus and confuse people to maek them think I am saying something I'm not.
You are a jerk and idiot with nothing worthwhile to contribute here.

 

[The Rabbi]

Unemployment Rates:

Feb 1981: 7.4%
May 1983: 10.1%

Feb 2009: 8.4%
May 2011: 9.1%

Which means:

Obama's unemployment record beats Reagan's.

I will, of course, keep posting these figures every single time this subject is brought up....

Sorry but Reagan isn't running this year. So it's kind of irrelevant.
What is relevant is unemployment has been stubbornly high despite trillions spent on stimulus that we were assured would keep UE below 8%. Thus Obama's polciies are failures and he deserves the blame.