A no BS, non partisan examination of the success of Obama's stimulus package

[itfitzme]

Quick post a chart that shows you can spend more than you take in with impunity.

You are confusing yourself with a government, a national economy, and a global economy.

You are aware that the money supply, even in real dollars, continues to increase. How does that work? Money keeps getting borrowed in ever increasing amounts, decade after decade.

It's almost magical.

 

[OODA_Loop]

You are aware that the money supply, even in real dollars, continues to increase. How does that work?

"Printed"/bought as bonds in QE 1/2/3 of late.

Before that it was printed and lacked any credible backing.

 

[itfitzme]

Quick post a chart that shows you can spend more than you take in with impunity.

This is what we call Keynesian economics. It was demonstrated in the late 70's and early 80's to be a failure.

So you don't actually have any understanding of economics and have no scientific education beyond, maybe, highschool.

In fact, you don't even have a working knowledge of what Keynsian Economics is.

 

[Quantum Windbag]

I'm not sure what we are arguing. If you took my posts to mean that I thought the recession was a result of W's deficits, either I was unclear or you misread. I do think the credit bubble was a direct result of Greenspan not regulating lenders and keeping rates low, while W increased govt spending by about 1.2 trillion. The chinese demand for debt was not satisfied by TBills, and that led, indirectly, to demand for US real estate debt obligations.

While I'm not a fan of Obama, it is true that he increased spending "only" by around 700 billion, despite the recession.

The debt increase is, as I think you say, the result of funding that 1.2 trillion when "the bottom fell out" of revenues. However, I would disagree if you contend any real econ gain was made during the W years.

Regardless, my original pt was intended to argue that, with 17 trillion in debt and a ration of around 75% (or 100%) debt gnp, there's no good arugment for another budget stimulus.

You really need to check your math, or your baseline assumptions.

Tell you what, explain to me how TARP, demerits aside, a one time loan which was repaid, counts as deficit spending debt for Bush and baseline spending for Obama.

ofay, lets for the sake of discussion eliminate TARP and say Bush "only" increased spending by 1.2 trillion minus the400-450 billion of tarp. happy now?

I don't recall objecting to the concept that Bush increased spending, I object to the claim that Obama only increased it by $700 billion.

 

[bendog]

You really need to check your math, or your baseline assumptions.

Tell you what, explain to me how TARP, demerits aside, a one time loan which was repaid, counts as deficit spending debt for Bush and baseline spending for Obama.

ofay, lets for the sake of discussion eliminate TARP and say Bush "only" increased spending by 1.2 trillion minus the400-450 billion of tarp. happy now?

I don't recall objecting to the concept that Bush increased spending, I object to the claim that Obama only increased it by $700 billion.

Well, call it what you will but outlays under Obama increased "only" 700 billion. I don't like the guy as potus, but .... and we are deleveraging the fed deficit as a % of gnp.

W was the master of malapropisms that actually worked. "The economy got drunk and now it's got a hangover." He left out that he was the bartender handing out free drinks.

 

[francoHFW]

280- Of course that report was going on an economic retraction of 3 per cent, while it turned out to be NINE PER CENT. Great job, pubbies....lol. Keep up the Pubcrappe, hater dupes- you can always be sure you're FOS...

 

[asterism]

Taxing and Spending Clause - Wikipedia, the free encyclopedia

That part does. The rest is yours. That seems to be how it works.

Hmmm.... still not seeing it. Maybe you should cite the exact wording for us.

Well, we all get that you're ability to grasp the written language is lacking. But how is that my problem. Go finish highschool.

 

[Faun]

Team Obama said in ’09 stimulus would have unemployment below 6% by 2012

Obamanomics 101 – The Stimulus Package Will Keep Unemployment Under 8%

That's pretty fuckin' stupid, even for a rightard.

You're quoting Sean Higgins, not Barack Obama. Which, of course, you have to do since Obama never made the promise you attributed to him.

the spin is dizzying with you O cult members

How funny. A fellow rightard of yours makes the bullshit claim that Obama promised his stimulus would get unemployment under 7% .... A claim he miserably failed to quote .... and you idiotically say I'm the one doing the spinning.

you rightards are a ******* riot!

 

[Stephanie]

Hmmm.... still not seeing it. Maybe you should cite the exact wording for us.

Well, we all get that you're ability to grasp the written language is lacking. But how is that my problem. Go finish highschool.

good one

 

[Stephanie]

That's pretty fuckin' stupid, even for a rightard.

You're quoting Sean Higgins, not Barack Obama. Which, of course, you have to do since Obama never made the promise you attributed to him.

the spin is dizzying with you O cult members

How funny. A fellow rightard of yours makes the bullshit claim that Obama promised his stimulus would get unemployment under 7% .... A claim he miserably failed to quote .... and you idiotically say I'm the one doing the spinning.

you rightards are a ******* riot!

Obama Promised Unemployment Rate at 5.6% After Stimulus… Today It’s at 8.3% Instead



By: Jim Hoft
8/3/2012 08:56 PM



Back in February 2009, the Obama Administration promised the American public that after their nearly trillion dollar stimulus too effect, the unemployment rate would drop down to 5.3% at the end of his first term.

Today it’s at 8.3%.

What’s another trillion dollars among friends?



Via Instapundit… JAMES PETHOKOUKIS: July jobs report: America’s labor market depression continues. Plus, once again, the damning graph comparing Obama’s stimulus promises with actual results. “Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.”

They really believed they could spend their way out of recession.

What idiots.

The Wall Street Journal reported:

The famed Rosy Scenario, coined in the early days of the Reagan White House when large tax cuts and higher defense spending were assumed to be paid for in part by strong economic growth, is a cornerstone of the Obama administration’s first multiyear budget.

After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.

The last time the economy preformed that well was the New Economy heyday of the late 1990s.

The 2010-2013 forecasts are slightly more optimistic than CBO but much rosier — in some cases by well over one percentage point — than what the Blue Chip Consensus calls for. A separate private-sector gauge, the Survey of Professional Forecasts, also projects a much weaker economy this year and next.

The unemployment rate at the end of President Barack Obama‘s term in 2013 will be just 5.2%, according to the White House. The rate currently sits at 7.6%, and many economists expect it to climb past 9% before the recession ends. A report Thursday showing jobless claims at a 26-year high supports the more pessimistic forecasts, at least in the short run.

If Obama was working in the private sector he would have been canned a long time ago.

from
Obama Promised Unemployment Rate at 5.6% After Stimulus... Today It's at 8.3% Instead - Conservative News

 

[Faun]

the spin is dizzying with you O cult members

How funny. A fellow rightard of yours makes the bullshit claim that Obama promised his stimulus would get unemployment under 7% .... A claim he miserably failed to quote .... and you idiotically say I'm the one doing the spinning.

you rightards are a ******* riot!

Obama Promised Unemployment Rate at 5.6% After Stimulus… Today It’s at 8.3% Instead



By: Jim Hoft
8/3/2012 08:56 PM



Back in February 2009, the Obama Administration promised the American public that after their nearly trillion dollar stimulus too effect, the unemployment rate would drop down to 5.3% at the end of his first term.

Today it’s at 8.3%.

What’s another trillion dollars among friends?



Via Instapundit… JAMES PETHOKOUKIS: July jobs report: America’s labor market depression continues. Plus, once again, the damning graph comparing Obama’s stimulus promises with actual results. “Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.”

They really believed they could spend their way out of recession.

What idiots.

The Wall Street Journal reported:

The famed Rosy Scenario, coined in the early days of the Reagan White House when large tax cuts and higher defense spending were assumed to be paid for in part by strong economic growth, is a cornerstone of the Obama administration’s first multiyear budget.

After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.

The last time the economy preformed that well was the New Economy heyday of the late 1990s.

The 2010-2013 forecasts are slightly more optimistic than CBO but much rosier — in some cases by well over one percentage point — than what the Blue Chip Consensus calls for. A separate private-sector gauge, the Survey of Professional Forecasts, also projects a much weaker economy this year and next.

The unemployment rate at the end of President Barack Obama‘s term in 2013 will be just 5.2%, according to the White House. The rate currently sits at 7.6%, and many economists expect it to climb past 9% before the recession ends. A report Thursday showing jobless claims at a 26-year high supports the more pessimistic forecasts, at least in the short run.

If Obama was working in the private sector he would have been canned a long time ago.

from
Obama Promised Unemployment Rate at 5.6% After Stimulus... Today It's at 8.3% Instead - Conservative News

Holyfuckingshit!

Quoting Jim Hoft (because you can't quote Obama since he never made any such promise) is just as rightarded as quoting Sean Higgins.

 

[Stephanie]

How funny. A fellow rightard of yours makes the bullshit claim that Obama promised his stimulus would get unemployment under 7% .... A claim he miserably failed to quote .... and you idiotically say I'm the one doing the spinning.

you rightards are a ******* riot!

Obama Promised Unemployment Rate at 5.6% After Stimulus… Today It’s at 8.3% Instead



By: Jim Hoft
8/3/2012 08:56 PM



Back in February 2009, the Obama Administration promised the American public that after their nearly trillion dollar stimulus too effect, the unemployment rate would drop down to 5.3% at the end of his first term.

Today it’s at 8.3%.

What’s another trillion dollars among friends?



Via Instapundit… JAMES PETHOKOUKIS: July jobs report: America’s labor market depression continues. Plus, once again, the damning graph comparing Obama’s stimulus promises with actual results. “Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.”

They really believed they could spend their way out of recession.

What idiots.

The Wall Street Journal reported:

The famed Rosy Scenario, coined in the early days of the Reagan White House when large tax cuts and higher defense spending were assumed to be paid for in part by strong economic growth, is a cornerstone of the Obama administration’s first multiyear budget.

After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.

The last time the economy preformed that well was the New Economy heyday of the late 1990s.

The 2010-2013 forecasts are slightly more optimistic than CBO but much rosier — in some cases by well over one percentage point — than what the Blue Chip Consensus calls for. A separate private-sector gauge, the Survey of Professional Forecasts, also projects a much weaker economy this year and next.

The unemployment rate at the end of President Barack Obama‘s term in 2013 will be just 5.2%, according to the White House. The rate currently sits at 7.6%, and many economists expect it to climb past 9% before the recession ends. A report Thursday showing jobless claims at a 26-year high supports the more pessimistic forecasts, at least in the short run.

If Obama was working in the private sector he would have been canned a long time ago.

from
Obama Promised Unemployment Rate at 5.6% After Stimulus... Today It's at 8.3% Instead - Conservative News

Holyfuckingshit!

Quoting Jim Hoft (because you can't quote Obama since he never made any such promise) is just as rightarded as quoting Sean Higgins.

right, because everyone else heard it BUT YOU and that other idiot itsfizzbrain...if you don't have Obama saying it he evidently didn't say it



too frikken hilarious..poor dears

go play with your new bud, two peas in a pod

 

[Billy000]

Ahh this thread turned out well.

 

[Stephanie]

It turned out well for the lie it was to begin with, so no surprise

 

[Faun]

Obama Promised Unemployment Rate at 5.6% After Stimulus… Today It’s at 8.3% Instead



By: Jim Hoft
8/3/2012 08:56 PM



Back in February 2009, the Obama Administration promised the American public that after their nearly trillion dollar stimulus too effect, the unemployment rate would drop down to 5.3% at the end of his first term.

Today it’s at 8.3%.

What’s another trillion dollars among friends?



Via Instapundit… JAMES PETHOKOUKIS: July jobs report: America’s labor market depression continues. Plus, once again, the damning graph comparing Obama’s stimulus promises with actual results. “Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.”

They really believed they could spend their way out of recession.

What idiots.

The Wall Street Journal reported:




If Obama was working in the private sector he would have been canned a long time ago.

from
Obama Promised Unemployment Rate at 5.6% After Stimulus... Today It's at 8.3% Instead - Conservative News

Holyfuckingshit!

Quoting Jim Hoft (because you can't quote Obama since he never made any such promise) is just as rightarded as quoting Sean Higgins.

right, because everyone else heard it BUT YOU and that other idiot itsfizzbrain...if you don't have Obama saying it he evidently didn't say it



too frikken hilarious..poor dears

go play with your new bud, two peas in a pod

I can't help that you're such a rightard, you can't see how stupid you are, quoting everybody But Obama, since Obama never actually made the promise you idiotically think he made.



Face reality ... had Obama made that promise, you'd be quoting him, not a bunch of fellow nuts who share your hallucinations.

 

[Stephanie]

Holyfuckingshit!

Quoting Jim Hoft (because you can't quote Obama since he never made any such promise) is just as rightarded as quoting Sean Higgins.

right, because everyone else heard it BUT YOU and that other idiot itsfizzbrain...if you don't have Obama saying it he evidently didn't say it



too frikken hilarious..poor dears

go play with your new bud, two peas in a pod

I can't help that you're such a rightard, you can't see how stupid you are, quoting everybody But Obama, since Obama never actually made the promise you idiotically think he made.



Face reality ... had Obama made that promise, you'd be quoting him, not a bunch of fellow nuts who share your hallucinations.

hey, Obama didn't say it, promise it, he was never even elected President
we got it, you're are the most brilliant ever and everyone else who heard him say it, is a retard

 

[Billy000]

Holyfuckingshit!

Quoting Jim Hoft (because you can't quote Obama since he never made any such promise) is just as rightarded as quoting Sean Higgins.

right, because everyone else heard it BUT YOU and that other idiot itsfizzbrain...if you don't have Obama saying it he evidently didn't say it



too frikken hilarious..poor dears

go play with your new bud, two peas in a pod

I can't help that you're such a rightard, you can't see how stupid you are, quoting everybody But Obama, since Obama never actually made the promise you idiotically think he made.



Face reality ... had Obama made that promise, you'd be quoting him, not a bunch of fellow nuts who share your hallucinations.

You are arguing with people with poor critical thinking skills. That's why you get nowhere.

 

[Stephanie]

right, because everyone else heard it BUT YOU and that other idiot itsfizzbrain...if you don't have Obama saying it he evidently didn't say it



too frikken hilarious..poor dears

go play with your new bud, two peas in a pod

I can't help that you're such a rightard, you can't see how stupid you are, quoting everybody But Obama, since Obama never actually made the promise you idiotically think he made.



Face reality ... had Obama made that promise, you'd be quoting him, not a bunch of fellow nuts who share your hallucinations.

You are arguing with people with poor critical thinking skills. That's why you get nowhere.

Says the person who post a couple links and then swear they are the gospel truth...where is Faun now about how you're wrong?
whatever, this this dead

 

[TooTall]

Bush's tax cuts were more expensive than the Recovery Act. When will see that money back?

That money did not belong to us - it belonged to the tax payer

You do realize that taxes pay the government's expenses right? Tax cuts dont pay for themselves. Every dollar lost in revenue is one more dollar the government needs to borrow to pay the bills. This is basic economics.

I surely do, and where did the money for the stimulus come from? (borrowed money)

Bush's tax cuts kept the economy relatively strong and unemployment low until the housing bubble went south.

 

[Billy000]

That money did not belong to us - it belonged to the tax payer

You do realize that taxes pay the government's expenses right? Tax cuts dont pay for themselves. Every dollar lost in revenue is one more dollar the government needs to borrow to pay the bills. This is basic economics.

I surely do, and where did the money for the stimulus come from? (borrowed money)

Bush's tax cuts kept the economy relatively strong and unemployment low until the housing bubble went south.

The Bush tax cuts only created 4.6 jobs per million dollar cut and for every dollar lost in revenue, there was only .59 cents in economic growth.