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CBO: Obama stimulus still boosting jobs

rightwinger

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Obama's 2009 stimulus is still boosting jobs

The $825 billion economic stimulus law signed by President Obama in February 2009 is still having a positive impact on the economy some 30 months later, according to the nonpartisan Congressional Budget Office.

In its latest quarterly report, the agency said the law's combination of aid to states and localities, public works projects, tax cuts and other spending increased the number of people with jobs by 1 million to 2.9 million between April and June of this year.

It said the law lowered the unemployment rate for that quarter by 0.5 to 1.6 percentage points -- meaning the rate could have been above 10% without the law's stimulative provisions. And it said the law boosted economic growth in that quarter by 0.8% to 2.5%.





And to think....EVERY Republican voted against the stimulus
 
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Truthmatters

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The car industry is now one of the few areas in the economy doing well.

If Obama had not bailed them out where would we be?
 

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Truthmatters

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Much higher than the republican partys
 
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rightwinger

rightwinger

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The car industry is now one of the few areas in the economy doing well.

If Obama had not bailed them out where would we be?

Just think

EVERY Republican voted against saving our auto industry
 

LordBrownTrout

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You're mining in a thin seam, rw. The jobless was just adjusted upwards a few minutes ago.
 

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Lonestar_logic

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we are so accurate in our forecasts we use the variables of million to millions.


Speaking of accuracy...What is the historical accuracy of the CBO? Anyone?

The CBO can only estimate from the figures they are given. Trash in, trash out.

By statute, CBO's baseline projections must estimate the future paths of federal spending and revenues under current law and policies. The baseline is therefore not intended to be a prediction of future budgetary outcomes; instead, it is meant to serve as a neutral benchmark that lawmakers can use to measure the effects of proposed changes to spending and taxes. So for that reason and others, actual budgetary outcomes are almost certain to differ from CBO's baseline projections

CBO's forecasting record.
 

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Jarhead

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it does not take rocket science to know that if you take a half a trillion dollars and dedicate it to creating jobs, it will create jobs.

That was never the issue.

The issue was "can we do things better, more effectively, and not have to borrow a trillion dollars to do it.

The GOP, and conservatives believed more jobs would have been created by borrowing no money at all and instead concentrate all efforts to incentivize the private sector to expand and thus hire.

lol...I love how you guys tout the obvious as "a great thing"....

Anyone do the math yet? How much did each job cost us in borrowed money and how much of that cost does the "employee" actually recieve?
 
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rightwinger

rightwinger

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The car industry is now one of the few areas in the economy doing well.

If Obama had not bailed them out where would we be?

Just think

EVERY Republican voted against saving our auto industry

Who started the auto bailouts again?

But we know who f'ed over the investors

Investors accepted a risk...that is what investing is

They invested in an industry that required a government bailout. The taxpayer is not responsible for making sure investors make money
 

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we are so accurate in our forecasts we use the variables of million to millions.


Speaking of accuracy...What is the historical accuracy of the CBO? Anyone?

The CBO can only estimate from the figures they are given. Trash in, trash out.

By statute, CBO's baseline projections must estimate the future paths of federal spending and revenues under current law and policies. The baseline is therefore not intended to be a prediction of future budgetary outcomes; instead, it is meant to serve as a neutral benchmark that lawmakers can use to measure the effects of proposed changes to spending and taxes. So for that reason and others, actual budgetary outcomes are almost certain to differ from CBO's baseline projections

CBO's forecasting record.

Thanks. The key to their projections as you stated. Trash in, trash out.
 

Jarhead

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Just think

EVERY Republican voted against saving our auto industry

Who started the auto bailouts again?

But we know who f'ed over the investors

Investors accepted a risk...that is what investing is

They invested in an industry that required a government bailout. The taxpayer is not responsible for making sure investors make money

I guess you know nothing about things such as A shares and B shares and secured debt, etc.......
 
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rightwinger

rightwinger

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it does not take rocket science to know that if you take a half a trillion dollars and dedicate it to creating jobs, it will create jobs.

That was never the issue.

The issue was "can we do things better, more effectively, and not have to borrow a trillion dollars to do it.

The GOP, and conservatives believed more jobs would have been created by borrowing no money at all and instead concentrate all efforts to incentivize the private sector to expand and thus hire.

lol...I love how you guys tout the obvious as "a great thing"....

Anyone do the math yet? How much did each job cost us in borrowed money and how much of that cost does the "employee" actually recieve?

We have seen what happens when Republicans throw money at the private sector...they keep it

The Economic Stimulus was not meant to be an end in itself. It was meant to prime the economic pump and shore up a failing economy. The stimulus did what it was intended to do. namely, stop and economic collapse and get the economy on a stable footing. It is the private sector who failed us. They sit on $2.5 trillion and refuse to do anything to stimulate economic growth.
 
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LordBrownTrout

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Just think

EVERY Republican voted against saving our auto industry

Who started the auto bailouts again?

But we know who f'ed over the investors

Investors accepted a risk...that is what investing is

They invested in an industry that required a government bailout. The taxpayer is not responsible for making sure investors make money

But the taxpayer bailed out the auto industry who is ultimately accountable to it's shareholders.
 

Jarhead

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it does not take rocket science to know that if you take a half a trillion dollars and dedicate it to creating jobs, it will create jobs.

That was never the issue.

The issue was "can we do things better, more effectively, and not have to borrow a trillion dollars to do it.

The GOP, and conservatives believed more jobs would have been created by borrowing no money at all and instead concentrate all efforts to incentivize the private sector to expand and thus hire.

lol...I love how you guys tout the obvious as "a great thing"....

Anyone do the math yet? How much did each job cost us in borrowed money and how much of that cost does the "employee" actually recieve?

We have seen what happens when Republicans throw money at the private sector...they keep it

I have shown you many times how that is a false statement...you may opt to oignore the reality of what I present....but you kow dam well that is a false statement.

The unemployment rate prior to the recession was stable between 4.3% and 5.5%...and there were a multitude of reasons why it should have increased to a much higher number naturally.
 

Truthmatters

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