Stimulus creates 2.1 million jobs according to the CBO

Discussion in 'Politics' started by Vast LWC, Feb 23, 2010.

  1. Vast LWC
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    Vast LWC <-Mohammed

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  2. Vast LWC
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    Vast LWC <-Mohammed

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    And please don't file this thread under the mis-spelled sarcastic thread on the same subject.
    If anything, that thread should be merged into this one, as the OP title is non-judgemental.
     
  3. Nonelitist
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    Nonelitist BANNED

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    I am guessing Libs will be telling us to believe this Foxnews story but not the other ones.
     
  4. Vast LWC
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    Vast LWC <-Mohammed

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    Yeah, or you could take a break from your propaganda for a minute to listen to the non-partisan source of the story, the Congressional Budget Office...

    Nah, why would you want to do that?


    And the story was originally reported by the AP, and run on FoxNews.com.
     
  5. theDoctorisIn
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    theDoctorisIn Senior Mod Staff Member Senior USMB Moderator

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    Now which stories have contradicted this one?
     
  6. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Faux News!
     
  7. KissMy
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    KissMy Free Breast Exam

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    WHERE ARE THE JOBS???
    [​IMG]
     
  8. Vast LWC
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    Vast LWC <-Mohammed

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    Not really sure how your graph is indicative of the CBO estimate being wrong.

    Without the stimulus we would have lost 10+ million jobs instead of 8+ million jobs.
     
  9. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    First, the CBO does not do any research or anaysis on its own. It is required to use the numbers given to it by Congress and/or the Administration in power and measure that against certain other fixed criteria to arrive at an opinion. So, if the President or a Congressional leader tells the CBO to use such and such a number, the CBO has to accept that number as a fact.

    That doesn't mean that the number is automatically wrong,.

    It does suggest that people who want to know the truth of something should back up the CBO numbers with another credible source.

    But let's assume that the CBO is right about the number of jobs created/saved. If they are right, and it is correct that roughly $176 billion of the stimulus package has been spent to date, each job saved cost us well over $60,000 each. And the fact is--even those in Congress admit this--most of those jobs 'saved' were government jobs. Most private sector jobs were temporary or part time.

    During the same 12-month period, the average non-farm wage was $22.45/hr or about $46,700/year and those losing their jobs every month averaged in the hundreds of thousands. If we start from zero in January 2009, 14 million Americans lost their jobs between then and January 2010.

    I wonder how they enjoy knowing that the federal government spent more than $60,000 per job to save some government jobs while they were losing theirs?

    And how different would the picture have looked if that $176 billion had been spent giving tax relief to those who employ people and expand and grow the economy? Would a growing economy have significantly put a dent in that 14 million unemployed figure? Would it have then replenished those government treasuries and also saved the government jobs?

    The CBO can't tell us that because nobody in government is giving them those numbers to work with.

    We're not getting our monies worth folks, even as the CBO continues to up the amount that will be spent on the stimulus package. If they squander the rest as they have squandered the first $176 billion, all we will have to show for it is a national debt that will already diminish quality of life for our grandchildren, if not our great grandchildren.

    Reference to back up some of my numbers:
    http://www.bls.gov/news.release/pdf/empsit.pdf
     
  10. Vast LWC
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    Vast LWC <-Mohammed

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    Here is an excerpt from the actual CBO Director's assessment of the report, verbatim:

    Director&#8217;s Blog Blog Archive Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output
     

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