CBO: extending unemployment benefits creates 19,000 jobs per billion dollar stimulus

[S.J.]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

And there IS no savings when you have a $17 trillion debt. Even an idiot can understand that.

 

[The Rabbi]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

And there IS no savings when you have a $17 trillion debt. Even an idiot can understand that.

One the fastest growing areas of employment for banks, etc is compliance people. Because of all the new laws and regs banks are adding staff to make sure they are in compliance. The Left doubtless crows about how Dudd-Frank was a job creator by doing that. They don't get it.

 

[ilia25]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

Yes, the taxpayers would have to pay back the debt, eventually. But in the meantime, this action would create jobs. And, in this case, there is no wealth redistribution -- the tax code remains the same.

 

[ilia25]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

And there IS no savings when you have a $17 trillion debt. Even an idiot can understand that.

Well, you are that idiot. The saving are sitting idle in bank reserves, because nobody wants to borrow an invest them. And that's the reason for depression and high unemployment. And that is where the government can help -- by borrowing and investing those savings.

 

[Toddsterpatriot]

This is like saying, "You have the option of starving to death". Yes, I suppose I COULD choose to never eat again until I die, but I'm obviously not going to. Likewise, banks COULD choose to take a course of action that would put them out of business, but they're not going to.

*sigh* A little knowledge is a dangerous thing, when there is no wisdom with which to manage it.

Tell you what, Punkin. If I'm such an idiot, why don't you explain that completely unreferenced chart you keep triumphantly waving around to us? You're so convinced that it self-explanatorily trumps all arguments and wins all debates for you; why don't you tell us HOW it does so?

Well, i was trying to explain just that.. Two lines, blue and red. Blue line represents how much money clients deposit with banks. Red line shows how much money banks lend out.

Until the crisis of 2008 both lines go together, meaning that banks lend out most of new deposits. But then the lines diverge -- clients deposit more money, but banks do not lend them. Because no one out there can afford taking on more debt.

So the new deposits are sitting idle in bank reserves. And no, banks do not go bust because of this, since the interest they have to pay on saving accounts is very low and banks have other means of making money (transaction fees, etc).

Oh, and the "unreferenced" chart comes courtesy of St. Lois Federal Reserve bank.

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

When are the 19,000 newly employed workers going to repay the $1 billion it took to get them jobs?

 

[Toddsterpatriot]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

And there IS no savings when you have a $17 trillion debt. Even an idiot can understand that.

Well, you are that idiot. The saving are sitting idle in bank reserves, because nobody wants to borrow an invest them. And that's the reason for depression and high unemployment. And that is where the government can help -- by borrowing and investing those savings.

The saving are sitting idle in bank reserves, because nobody wants to borrow an invest them.

Obama should add more idiotic regulations, that'll get people to invest.

 

[ilia25]

Well, i was trying to explain just that.. Two lines, blue and red. Blue line represents how much money clients deposit with banks. Red line shows how much money banks lend out.

Until the crisis of 2008 both lines go together, meaning that banks lend out most of new deposits. But then the lines diverge -- clients deposit more money, but banks do not lend them. Because no one out there can afford taking on more debt.

So the new deposits are sitting idle in bank reserves. And no, banks do not go bust because of this, since the interest they have to pay on saving accounts is very low and banks have other means of making money (transaction fees, etc).

Oh, and the "unreferenced" chart comes courtesy of St. Lois Federal Reserve bank.

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

When are the 19,000 newly employed workers going to repay the $1 billion it took to get them jobs?

The government does not buy jobs with money.

 

[Toddsterpatriot]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

When are the 19,000 newly employed workers going to repay the $1 billion it took to get them jobs?

The government does not buy jobs with money.

What does it buy them with?

 

[S.J.]

I hope that whoever capable of reading this understands how the government can create jobs at will -- by borrowing and spending/investing savings that otherwise are sitting idle.

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

And there IS no savings when you have a $17 trillion debt. Even an idiot can understand that.

Well, you are that idiot. The saving are sitting idle in bank reserves, because nobody wants to borrow an invest them. And that's the reason for depression and high unemployment. And that is where the government can help -- by borrowing and investing those savings.

How is it "savings" if it's borrowed in the first place, idiot? Savings is excess money that you don't owe anyone. Are you THAT f-ing clueless?

 

[ilia25]

Q. If you have to borrow money to pay somebody's salary, who pays it back?

A. The taxpayers. That's not growing the economy, it's redistributing wealth.

And there IS no savings when you have a $17 trillion debt. Even an idiot can understand that.

Well, you are that idiot. The saving are sitting idle in bank reserves, because nobody wants to borrow an invest them. And that's the reason for depression and high unemployment. And that is where the government can help -- by borrowing and investing those savings.

How is it "savings" if it's borrowed in the first place, idiot? Savings is excess money that you don't owe anyone. Are you THAT f-ing clueless?

The savings are not borrowed, they are deposited in bank and are sitting idle in reserves! That is the problem! Learn to read, you moron...

 

[S.J.]

Well, you are that idiot. The saving are sitting idle in bank reserves, because nobody wants to borrow an invest them. And that's the reason for depression and high unemployment. And that is where the government can help -- by borrowing and investing those savings.

How is it "savings" if it's borrowed in the first place, idiot? Savings is excess money that you don't owe anyone. Are you THAT f-ing clueless?

The savings are not borrowed, they are deposited in bank and are sitting idle in reserves! That is the problem! Learn to read, you moron...

Learn to read??? How about if you learn to think? Apparently you don't know the difference between surplus and debt. A SURPLUS would be savings. We don't have a surplus, we have a DEBT, a very large debt. Yes, I believe you ARE that f-ing clueless. So long, simpleton.