CBO: Stimulus saved between 5 to 25 million jobs

[Listening]

Budget Spin: Obama and Republicans give different -- and less-than-factual -- takes on the president's 2012 budget.

FactCheck.org : Budget Spin

Obama came into office "with a $1.3 trillion deficit before I had passed any law. ... We came in with $8 trillion worth of debt over the next decade."

PolitiFact | Obama inherited deficits from Bush administration

And he's run way past that number already.

Don't you get anything ?

 

[Lakhota]

THE $10 TRILLION HANGOVER: Paying the Price for Eight Years of Bush

 

[thereisnospoon]

Oh well, Bush wasn't too keen on budgets, either. He kept both wars off-budget.

Here we go again. In the absence of an argument in support of Obama to counter what he has done TO the country, libs fall back position is to blame Bush.
33 Months in office and Obama's fans still cannot accept responsibility.
Typical libs.

Yes--sir--ree--BLAME Boooossshhhh--but let's not discuss how Barack Obama has outspent G.W. Bush by 3 times in the last three years.

The federal government is now borrowing .43 cents on every dollar it spends. We have now just passed the 15 trillion dollar deficit mark--and we have another 64 trillion in unfunded liabilities for social security/medicare funding--equating to $534,000.00 per household debt in America--and these idiot liberals think we can TAX our way out of this mess---

1 billion dollars--$100.00 bills stacked on pallets

1 trillion dollars--$100.00 bills stacked on pallets.

These people are cavalier about spending other people's money. They have no concept of the gargantuan numbers of dollars..
So I did some quick calculations.....On trillion seconds.....comes out to a little over THREE THOUSAND ONE HUNDRED YEARS.....
That's thirty centuries Or about 40 generations of people.
Our current Presidential administration has increased the federal deficit by 5 trillion dollars and in 10 years that is projected to be over the14 trillion dollars. That is more than the entire net worth of every asset in the United States.

 

[Lakhota]

Maybe we can blame it on Clinton...

 

[oreo]

Budget Spin: Obama and Republicans give different -- and less-than-factual -- takes on the president's 2012 budget.

FactCheck.org : Budget Spin

Obama came into office "with a $1.3 trillion deficit before I had passed any law. ... We came in with $8 trillion worth of debt over the next decade."

PolitiFact | Obama inherited deficits from Bush administration

And he's run way past that number already.

Don't you get anything ?

Lakota is just trying to save the Messiah--with a smoke screen of charts--in total denial that their hero is out-spending--big spender Booosh by 3 times. They just can't swallow that--because it makes Obummer look bad.

 

[Lakhota]

Obama: At the beginning of the last decade, the year 2000, America had a budget surplus of over $200 billion. (Applause.) By the time I took office, we had a one-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program. On top of that, the effects of the recession put a $3 trillion hole in our budget. All this was before I walked in the door. (Laughter and applause.)

Now — just stating the facts.

FactCheck.org : Obama’s State of the Union Address

 

[Lakhota]

Lakota is just trying to save the Messiah--with a smoke screen of charts--in total denial that their hero is out-spending--big spender Booosh by 3 times. They just can't swallow that--because it makes Obummer look bad.

What is Obama spending big money on that wasn't a result of George W. Bush? You can't say the wars, because Obama didn't start them - but he IS ending them.

Afghanistan: Marines To Wind Down Combat In 2012

 

[oreo]

Obama: At the beginning of the last decade, the year 2000, America had a budget surplus of over $200 billion. (Applause.) By the time I took office, we had a one-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program. On top of that, the effects of the recession put a $3 trillion hole in our budget. All this was before I walked in the door. (Laughter and applause.)

Now — just stating the facts.

FactCheck.org : Obama’s State of the Union Address

I believe this TOPIC THREAD is about whether or not Obummer has saved 5 to 25 million JOBS.

If you liberals can't stand the heat in the kitchen--and want to make your own thread about who created the deficit--start another thread--but you're erratic --unrelated comments to this thread really aren't fooling anyone.

 

[Lakhota]

Well, ya know, it's sort of like a lot of other threads about Cain and Gingrich - then all of a sudden Bill Clinton gets dragged in...

 

[Billy000]

FactCheck.org : Budget Spin



PolitiFact | Obama inherited deficits from Bush administration

And he's run way past that number already.

Don't you get anything ?

Lakota is just trying to save the Messiah--with a smoke screen of charts--in total denial that their hero is out-spending--big spender Booosh by 3 times. They just can't swallow that--because it makes Obummer look bad.

Just because Bush ended up spending less, it doesn't mean he wasn't reckless. Had his tax cuts been renewed, the deficit would have gone up 5 trillion.

 

[likeabird03]

Obama: At the beginning of the last decade, the year 2000, America had a budget surplus of over $200 billion. (Applause.) By the time I took office, we had a one-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program. On top of that, the effects of the recession put a $3 trillion hole in our budget. All this was before I walked in the door. (Laughter and applause.)

Now — just stating the facts.

FactCheck.org : Obama’s State of the Union Address

That's Obama who said that. LOL. If what he said is true, him and the democrats had two years of unchecked power to do what they wanted to try and reign it in. And what happened? They didn't even pass a budget!!!!! Instead they shoved Obamacare down our throat at another hefty price tag.

What a croc.

 

[Lakhota]

And he's run way past that number already.

Don't you get anything ?

Lakota is just trying to save the Messiah--with a smoke screen of charts--in total denial that their hero is out-spending--big spender Booosh by 3 times. They just can't swallow that--because it makes Obummer look bad.

Just because Bush ended up spending less, it doesn't mean he wasn't reckless. Had his tax cuts been renewed, the deficit would have gone up 5 trillion.

I guess I'm confused. I thought the Bush tax cuts were renewed until the end of 2012. I thought those tax cuts were renewed at the end of 2010 for two more years.

 

[Billy000]

Lakota is just trying to save the Messiah--with a smoke screen of charts--in total denial that their hero is out-spending--big spender Booosh by 3 times. They just can't swallow that--because it makes Obummer look bad.

Just because Bush ended up spending less, it doesn't mean he wasn't reckless. Had his tax cuts been renewed, the deficit would have gone up 5 trillion.

I guess I'm confused. I thought the Bush tax cuts were renewed until the end of 2012. I thought those tax cuts were renewed at the end of 2010 for two more years.

Yeah, you're right. For some reason this article I just read made me think otherwise, but I just misread it. The tax cuts were extended.

 

[Neotrotsky]

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

Too bad unemployment still went past 8 percent


What a waste of money
Of course you did leave out some parts
funny how that works

Of course, if one reviews the whole CBO report it does say

The Congressional Budget Office on Tuesday downgraded its estimate of the benefits of President Obama’s 2009 stimulus package, saying it may have sustained as few as 700,000 jobs at its peak last year and that over the long run it will actually be a net drag on the economy.

CBO said that while the Recovery Act boosted the economy in the short run, the extra debt that the stimulus piled up “crowds out” private investment and “will reduce output slightly in the long run — by between 0 and 0.2 percent after 2016.”

The agency also has changed its model for the spending’s impact on the economy, and the new calculations show the Recovery Act did less than originally projected.


What a surprise

another failed Papa Obama pet project that did not live up to expectations

$250,000 per job created (excluding the interest expense) and $312,500 per union job, er job created
(so that's how much it cost to purchase votes today)
What a bargain - what fine example of "Keynesian efficiency"
What is the avg wage in the US around $42,000 ?, probably a little more than you make ...

I can see it now- the new liberal cry!
Give us 5 times the cost of the avg job and we can make 1

To be fair, it is better than his "green job" cost
With $17.2 billion spent on these programs, the cost per actual job created, so far 3545 jobs, comes to $4.853 million per job
(not counting the interest)
Notice Even with Papa Obama’s initial false promise of 65,000 jobs created that would still come to $593,846 per job



Really, only a left wing apologist for Papa Obama could take this as a positive
oh wait...., never mind

Truth is hard for the left
In fact, it is their worst enemy

 

[Listening]

FactCheck.org : Budget Spin



PolitiFact | Obama inherited deficits from Bush administration

The reason it was 1.3 trillion before Obama entered office was because the 750 Billion dollar TARP loans are included into that (something dems also voted for). And most of that was paid back, and instead of putting it back into the treasury, it got spent on more pork under Obama. The Treasury actually made a profit on many of their TARP investments, Solyndra on the other hand...

Well, gee, that's a cute way to simply dismiss both links...

And your answer is ?

You don't have one.

Is what he stated true or not ?

If it is, what effect does it have on your claim ?

 

[Listening]

THE $10 TRILLION HANGOVER: Paying the Price for Eight Years of Bush

I wonder if these two are going to publish anything on the Obama administrations incredible deficit spending issues.

The left seems to forget that there many on the right who were not at all happy with the spending of GWB.

However, when your alternative is John Kerry....you hold your nose, pull the lever, then go outside and vomit.

This next election may be the same acidic experience.

 

[newpolitics]

The Stimulus kept us in Depression

Exactly, it just prolonged our pain.

this ignorance is baffling. were it not for the stimulus, we would have went into a depression worse than the major depression, but people tend to reject this reality to uphold their hatred of the left. it is childish.

 

[Listening]

The Stimulus kept us in Depression

Exactly, it just prolonged our pain.

this ignorance is baffling. were it not for the stimulus, we would have went into a depression worse than the major depression, but people tend to reject this reality to uphold their hatred of the left. it is childish.

What is baffling is how people can make the claim in the affirmative with such absolute conviction. There is no way to know what would have happened. We didn't not do the stimulus.

We don't know that is saved us from anything and we don't know that it kept us there.

It is all guessing.

I'll be more honest and say that I would have prefered a dip into a depression just to let the market equilibrate. In the long run, it is the vaunted "rich" who would have suffered the most. Things would have leveled out and with some pain and suffering (which is not always a bad thing) we would have come out a stronger country.

As it is, we keep giving asprin the cancer patient thinking just hoping they won't go critical on our watch (saving it for someone else).

 

[Full-Auto]

The Stimulus kept us in Depression

Exactly, it just prolonged our pain.

this ignorance is baffling. were it not for the stimulus, we would have went into a depression worse than the major depression, but people tend to reject this reality to uphold their hatred of the left. it is childish.

EVIDENCE?

Oh you dont have any..

 

[Listening]

This whole thread is a great example of how people need to spin things to match the view of the world they present in order to get support from voters who look ot others for guidance.

The left wants everyone to think President Obama is doing a great job because they need him to keep pushing his agenda of "spreading he wealth". In other words, this is an active agenda to gain cash or assets from others using the government.

Now why does the right care (and believe me, they (or we as I am a RWer) they should care) ?