CBO: Stimulus saved between 5 to 25 million jobs

[Truthmatters]

"getting out of the way of free enterprise"


The exact thing that fucked us in this world wide economic crash was deregulation.


Just how can people be so very fact adverse?

 

[thereisnospoon]

The current financial crisis is not all Phil Gramm's fault. Who says? Well, Phil Gramm says. Big surprise. But in a lengthy defense of his record and analysis of the current mess Friday afternoon in Washington, Gramm did allow that it might be at least a teeny bit his fault. Call it the beginning — maybe — of the nuanced consideration of the causes of the crisis that was impossible during the fall election campaign.

As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played the leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act that separated commercial banks from Wall Street, and he inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives such as credit-default swaps from regulation by the Commodity Futures Trading Commission (CFTC)

Phil Gramm Says the Banking Crisis Is (Mostly) Not His Fault - TIME

And this has what to do with Obama wanting to squander another half trillion dollars on unions and government employment?
Gramm?...I have had enough of that guy.
Heck I never wanted to see interstate banking. These mega banks are the worst. They do as little as possible in customer service, charge higher fees and employ far too many people.
All these crazy investments( Ha there a mucked up term) were high risk nonsense that reminded me of the junk bond and hostile take over era in the 80's.
So called investors swooping in with little cash and a lot of paper claiming to want to 'save' companies meanwhile their intent was to buy the firm at an inflated stock price, break up the company and sell off the assets and turn a huge profit...On nothing.
Gramm and his ilk simply created a market for nothing. It was simply a way to change over money...The blame for that stuff crosses the lines of political ideology. EVERYONE was to blame.
Still, credit default swaps and packaged up mortgages disguised as securities was but a part of the problem. The chicken that laid the egg was the federal government. Fannie/freddie and the various government Acts that by law compelled lenders to extend credit to unqualified people . The federal government told the lenders that the loans would be backed by the full faith and credit of the US government.
Wall Street is a convenient scapegoat for those government officials for creating the situation in the first place. Wall Street investors simply took what the government made available to them.

 

[Listening]

Kindly explain the dozen bills that the Republican House has passed and sent to the Democratically controlled Senate only to have Harry Reid sit on them. Who's REALLY the party of "no" since 2010?

Good luck on that one.

What you will likely get is one of the jukebox graphs that show up when there is no real good response to your question (that does not involve admitting President Obama is a loser).

 

[Listening]

the stimulus saved jobs by every estimnation.

It worked and you guys have been repeting the lie that is didnt work for years now

O.K. We'll try it again.

Saving jobs is not equal to "working".

That has been explained. Why don't YOU STOP the LIEs ?

 

[Listening]

the blind partisan attacks on any good news for the American people.

the right pleads for US failure

They are doing more than that.

The Republicans in Congress are blocking every jobs bill to try to make the economy worse.

They are traitors to America.

Right. Look, while government can create 'make work' government temporary jobs at a very high cost to the taxpayer, real employment resides in the private sector.
Government does not and will not ever create private sector employment.
The latest Obama jobs bill proposal is nothing more than a slush fund for politicians in need of votes. There are no specific pathways for that money to make it to the private sector. The first two stim bills went to prevent government worker layoffs and fund grants.
There have been ZERO positive results. Precisely why Obama wants more appropriations.
He needs the bill to pass so that House members can carry news of money 'coming your way' to their constituents. In other words, this is nothing but a political move to save vulnerable democrat held Senate and House seats.
This jobs bill is also an end around tax increase.
Tell ya what, if Obama stripped the tax increases out of his jobs bill, it might just pass. That is as long as there are significant spending cuts in the bill.
With the tax increases and additional regulations, Obama ain't getting shit.
For crying out loud Obama has many democrats going off the reservation on this bill. They do not wish to go back their respective states and districts with news of a tax increase. Especially with a pissed off and fickle electorate...

And I noticed that no one has disputed the math that was done earlier showing just how expensive those jobs were.

Glad to see our government working so efficiently.

 

[Jackson]

President Barack Obama’s 2009 economic stimulus bill which was passed in Congress during the first month of his Administration and which received opposition from all but three Congressional Republicans has thus far resulted in the employment for 5 million or more Americans according to the Congressional Budget Office’s 2011 third quarter ARRA accounting report released on Tuesday.

“The American Recovery and Reinvestment Act” (ARRA) was passed and enacted in February of 2009 and contained approximately $800 billion in stimulus programs, tax cuts and tax incentives to help the economy, which at the time was losing almost one million jobs a month.

In the CBO report, “Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from July 2011 Through September 2011,” a breakdown by year shows that the ARRA created or saved from 5 million to 25.4 million jobs from March 2009 through September 2011, as follows:

2009:a low estimate of .9 million jobs to a high estimate of 3.6 million jobs
2010:a low estimate of 2.6 million jobs to a high estimate of 13.2 million jobs
2011:a low estimate of 1.5 million jobs to a high estimate of 8.6 million jobs

In addition, according to the CBO, the stimulus is expected to help create or save another .3million to 2 million jobs in the fourth quarter of 2011, another .8 million to 4.6 million jobs in 2012.

CBO states Obama economic stimulus created or saved 5 million or more jobs - National liberal | Examiner.com

I look at a post like this and I feel I should remind the author that the CBO anaylyzes the numbers given to them (from the administration.) Bad numbers in, faulty results emerge.

 

[Listening]

I look at a post like this and I feel I should remind the author that the CBO anaylyzes the numbers given to them (from the administration.) Bad numbers in, faulty results emerge.

We certainly learned that lesson on Obamacare.

 

[Wiseacre]

Wonder if anyone has done a poll or survey asking the American people what they think of this claim. I'm guessing the response will likely not be in the affirmative. Reminds me of the Obama admin making these claims and then various news orgs running stories about companies with 5 employees saying they saved 50 jobs. Sure.

Just curious, we've still got about 2 million fewer employed than we did in Jan 2009, so I guess that means we'd be down 27 million jobs by now if we hadn't done the stimulus? I dunno, kind of a hard sell.

 

[Listening]

Wonder if anyone has done a poll or survey asking the American people what they think of this claim. I'm guessing the response will likely not be in the affirmative. Reminds me of the Obama admin making these claims and then various news orgs running stories about companies with 5 employees saying they saved 50 jobs. Sure.

Just curious, we've still got about 2 million fewer employed than we did in Jan 2009, so I guess that means we'd be down 27 million jobs by now if we hadn't done the stimulus? I dunno, kind of a hard sell.

But, if you listen to TruthSplatters, you'd know that the stimulus saved a whopping 700,000 jobs on the short term and that without it we'd all be unemployed.

Cats and Dogs living together......

 

[Wiseacre]

Color me sceptical, I don't care if it's the CBO or not.

 

[Chris]

 

[Chris]

 

[Chris]

 

[AmericanFirst]

the blind partisan attacks on any good news for the American people.

the right pleads for US failure

They are doing more than that.

The Republicans in Congress are blocking every jobs bill to try to make the economy worse.

They are traitors to America.

Kindly explain the dozen bills that the Republican House has passed and sent to the Democratically controlled Senate only to have Harry Reid sit on them. Who's REALLY the party of "no" since 2010?

He can't, he is lying, again.

 

[Conservative]

the blind partisan attacks on any good news for the American people.

the right pleads for US failure

They are doing more than that.

The Republicans in Congress are blocking every jobs bill to try to make the economy worse.

They are traitors to America.

you do realize this is a lie, right? That there are numerous threads linking to the House passed job related bills that Harry Reid has gathering dust on his desk, right? Bills that were sponsored by both Republicans AND Democrats, right?

Why do you continue to perpetuate this lie of yours? Oh, right... I forgot. It's all the far left has. Lies

 

[Listening]

the blind partisan attacks on any good news for the American people.

the right pleads for US failure

They are doing more than that.

The Republicans in Congress are blocking every jobs bill to try to make the economy worse.

They are traitors to America.

you do realize this is a lie, right? That there are numerous threads linking to the House passed job related bills that Harry Reid has gathering dust on his desk, right? Bills that were sponsored by both Republicans AND Democrats, right?

Why do you continue to perpetuate this lie of yours? Oh, right... I forgot. It's all the far left has. Lies

And it has plenty of depends too.

 

[Chris]

the blind partisan attacks on any good news for the American people.

the right pleads for US failure

They are doing more than that.

The Republicans in Congress are blocking every jobs bill to try to make the economy worse.

They are traitors to America.

you do realize this is a lie, right? That there are numerous threads linking to the House passed job related bills that Harry Reid has gathering dust on his desk, right? Bills that were sponsored by both Republicans AND Democrats, right?

Why do you continue to perpetuate this lie of yours? Oh, right... I forgot. It's all the far left has. Lies

Link?

 

[Lakhota]

The House jobs bills are a joke...

House "jobs bills" my aunt Martha! | OregonLive.com

 

[Chris]

I keep hearing about these republican House "jobs" bills that are stuck in the Senate, so I checked them out at GOP.gov. They are as follows:

HR872- reduces EPA regulations on pesticides, fungicides and rodenticides. (lobbyists)
HR910- prohibits EPA regulation of greenhouse gasses. (lobbyists)
HR37- prohibits FCC from implementing net neutrality. (lobbyists)
HR 1230- requires Dept. of Interior to open more oil and gas leases offshore. (lobbyists)
HR1229- directs Dept. of Interior to issue more offshore drilling permits. (lobbyists)
HR1231- reverses President's offshore drilling moratorium. (lobbyists, and already done by President)
HR2021- eliminates EPA delays in Alaskan offshore drilling. (lobbyists)
HR2018- allows states to overrule EPA standards on water pollution. (lobbyists)
HR1315- allows House Financial Council to set aside any federal regulation. (lobbyists)
HR1938- demands immediate approval of Keystone XL pipeline w/o Executive study, (lobbyists)
HR2587- restricts actions of National Labor Board. (lobbyists)
HR 2401- restricts any EPA delays on air, water and waste compliance. (lobbyists)
HR2681- removes 3 EPA standards on concrete manufacturing plant emissions. (lobbyists)
HR2250- removes EPA regulations on mercury and other hazardous pollutants. (lobbyists)
HR2273- removes restrictions on coal ash disposal. (lobbyists)

Job bills? What a joke! The House republicans have blatantly put out the "For Sale" sign, and the lobbyists are boldly buying legislation from these jerks. They could care less about jobs; their reasons for these bills are obvious to all but a few.

Removing restrictions on everything from mercury to coal ash streams are NOT "jobs bills", it is outright graft and bribery of the House republicans by the corporate interests.

House "jobs bills" my aunt Martha! | OregonLive.com

 

[editec]

Between 5 and 25 million jobs ?

Not exactly a precise number is it?


Certainly some jobs, mostly state workers, teachers and whatnot, were saved.

One would think a more accurate estimate would be possible, though.