Myth Debunked: Obama Stimulus Failed

[code1211]

Stimulus prevented a depression and saved the auto and financial sectors

Not too shabby

Was it the stimulus or the TARP that was the savior of the Financial industry?

Saved the Auto industry?

Saved the UAW as an entity of the workforce of GM is what was actually saved.

With no stimulus, the fear was that GM would have suffered bankruptcy. It DID suffer bankruptcy.

The only difference was that those who raped the company are allowed to continue the rape and those that invested in the company with their hard earned dollars also got raped in violation of the law.

The Failed Stimulus helped public and private sector unions and hurt those with investments, with retirement funds and those who actually pay taxes.

A dream program if you're a Democrat.

 

[code1211]

Stimulus prevented a depression and saved the auto and financial sectors

Not too shabby

The stimulus needed to be bigger, but I think he got a pretty good bang for his buck.

Used in the way that it was used to simply prop up the ill conceived pensions and retirement contributions to pensions, how would making the Failed Stimulus bigger have done anything more than delay the needed re-examination of the ill conceived programs that it prolonged?

 

[code1211]

Myth Debunked: Obama Stimulus Failed

4. Obama’s stimulus failed.

This has become a GOP talking point, repeated by everyone from John Boehner to Karl Rove to Romney. It isn’t true.

Objecting to various provisions of the stimulus or believing that it worsened the deficit isn’t the same as deeming it a failure. When the Obama administration was little more than a year old, three of the best-known economic research firms — IHS Global Insight, Macroeconomic Advisers and Moody’s Economy — all said the stimulus, which almost every Republican in Congress opposed, would create more than 2.5 million jobs. Last August, the nonpartisan Congressional Budget Office estimated that the stimulus package created between 1.4 and 4 million jobs. Even Mark Zandi, one of McCain’s economic advisers in 2008, has called the stimulus “a significant benefit to the economy’s performance.”

Five myths about Barack Obama - The Washington Post

1) three of the best-known economic research firms — IHS Global Insight, Macroeconomic Advisers and Moody’s Economy — all said the stimulus, which almost every Republican in Congress opposed, would create more than 2.5 million jobs.

2) the nonpartisan Congressional Budget Office estimated that the stimulus package created between 1.4 and 4 million jobs.

3) Mark Zandi, one of McCain’s economic advisers in 2008, has called the stimulus “a significant benefit to the economy’s performance.”

Myth debunked

In terms of effectiveness.......look at it this way

We were losing 700,000 jobs a month before stimulus and adding 100,000 jobs after stimulus

The stock market had lost 7500 points before stimulus and gained 6500 points after stimulus

GDP was negative 4 of 5 quarters before stimulus, GDP positive 12 straight quarters since

Not too shabby

Compare that to the abrupt dive of the economy after 9/11.

Compare the prolonged recession of Obama to the recovery of Bush and tell me how the wisdom of Obama's programs has helped.

As the Obama brutes threaten to kill the first people they see to set the example, put their boots on our throats and raise the price of gas to $7.00/gallon, the economy languishes.

You and Obama believe that the Big 0's job is to make us happy that things aren't worse. That's the Democrat way of thinking. Relax. You're powerless and the events of the day are bigger than you. You cannot win, so give up.

What he should be doing is clearing away the road blocks and letting us find the way out of this mess. Following his lead is nothing more than a death of a thousand cuts. He and his henchmen are wielding the blades.

 

[code1211]

why should Obama take the blame for the Bush presidency and the recession??

That's not the question.

The question is: Why hasn't he come up with a plan that will work?

 

[code1211]

Stimulus prevented a depression and saved the auto and financial sectors

Not too shabby

Making it up as we go along, are we?

TARP 'saved' the auto and financial sectors.

The economy was in recovery before even 5% of the Stimulus was spent.

TARP and Stimulus were the same thing......US government kicking money into a collapsing economy

TARP and the Stimulus are not the same thing.

Two entirely different programs. one was passed under Bush and the other was passed under the Big 0.

One saved the Auto industry and the Financial industry in your claims. That was TARP.

The other, the Failed Stimulus, propped up the public sector unions, paid back Obama's doners and bribed local officials to funnel more cash into the union coffers to support Democrat candidates.

The Failed Stimulus wasted a boat load of money that could have been put to good use but was spent on nothing stimulative. It demonstrates the utter lack of understanding possessed by the Administration.

 

[code1211]

Five myths about Barack Obama - The Washington Post

1. Obama is a socialist.

This myth began with a 2008 campaign stop in Ohio, when then-Sen. Obama was caught on tape telling Joe Wurzelbacher (“Joe the Plumber”) that we needed to “spread the wealth around.” Sen. John McCain said that “sounded a lot like socialism” and cited the quote often during the campaign.

Conservatives have echoed the charge throughout Obama’s presidency. Writing in Commentary magazine in 2010, Jonah Goldberg accused him of aiming to “nationalize” two auto companies, stage a “partial government takeover” of health care and seize “managerial control” of Wall Street.

But none of this is true. By temporarily putting major banks under government control, the TARP bailout contained socialist elements — but that didn’t make Obama any more of a socialist than then-President George W. Bush and Treasury Secretary Hank Paulson, who launched the rescue. Obama rejected nationalizing banks and made clear that he had no interest in running the auto companies receiving TARP money.

The president’s health-care reform law keeps insurance in private hands, adopts the “individual mandate” concept from the conservative Heritage Foundation and is modeled in part on former governor Mitt Romney’s Massachusetts reform — not exactly a “Bolshevik plot,” as Obama put it. Finally, the Dodd-Frank reform bill, which Obama signed into law in 2010, regulates Wall Street but hardly controls it.

the above is only 1 of 5 specific myths debunked

How does this demonstrate that a socialist is not a socialist?

 

[code1211]

Myth Debunked: Obama Stimulus Failed

4. Obama’s stimulus failed.

This has become a GOP talking point, repeated by everyone from John Boehner to Karl Rove to Romney. It isn’t true.

Objecting to various provisions of the stimulus or believing that it worsened the deficit isn’t the same as deeming it a failure. When the Obama administration was little more than a year old, three of the best-known economic research firms — IHS Global Insight, Macroeconomic Advisers and Moody’s Economy — all said the stimulus, which almost every Republican in Congress opposed, would create more than 2.5 million jobs. Last August, the nonpartisan Congressional Budget Office estimated that the stimulus package created between 1.4 and 4 million jobs. Even Mark Zandi, one of McCain’s economic advisers in 2008, has called the stimulus “a significant benefit to the economy’s performance.”

Five myths about Barack Obama - The Washington Post

Only if you change the Goal Posts did it not Fail.

It utterly Failed to Do what Obama said it would do. Did it save us from Worse problems, I wont argue with that, It did. in the Short run anyways. However you have to be extremely Dishonest to say it did not fail to do what Obama said it would do.

I mean come on. He talked it up pretty good, and it did not deliver anywhere near what he claimed.

That is Failure.

yes.....yes...yes....

The myth being debunked isn't a game of catch me if you can.

The myth is that the stimulus failed. It did not

You keep saying that the Failed Stimulus did not fail and yet you have failed to prove your assertion.

Maybe you just don't understand what failure is.

 

[code1211]

Five myths about Barack Obama - The Washington Post

1. Obama is a socialist.

This myth began with a 2008 campaign stop in Ohio, when then-Sen. Obama was caught on tape telling Joe Wurzelbacher (“Joe the Plumber”) that we needed to “spread the wealth around.” Sen. John McCain said that “sounded a lot like socialism” and cited the quote often during the campaign.

Conservatives have echoed the charge throughout Obama’s presidency. Writing in Commentary magazine in 2010, Jonah Goldberg accused him of aiming to “nationalize” two auto companies, stage a “partial government takeover” of health care and seize “managerial control” of Wall Street.

But none of this is true. By temporarily putting major banks under government control, the TARP bailout contained socialist elements — but that didn’t make Obama any more of a socialist than then-President George W. Bush and Treasury Secretary Hank Paulson, who launched the rescue. Obama rejected nationalizing banks and made clear that he had no interest in running the auto companies receiving TARP money.

The president’s health-care reform law keeps insurance in private hands, adopts the “individual mandate” concept from the conservative Heritage Foundation and is modeled in part on former governor Mitt Romney’s Massachusetts reform — not exactly a “Bolshevik plot,” as Obama put it. Finally, the Dodd-Frank reform bill, which Obama signed into law in 2010, regulates Wall Street but hardly controls it.

the above is only 1 of 5 specific myths debunked

No one has rationally or reasonably challenged a single thing in the above post, except the proven conclusion (debunked myth), which does not fit a world view based on Felty-logic.

Obama is a Socialist. Why are you trying to say that he is not what he is?

 

[code1211]

Last August, the nonpartisan Congressional Budget Office estimated that the stimulus package created between 1.4 and 4 million jobs.

I have had this conversation before about this.
Can we narrow the gap a bit more here.

Did it create
1 million or
4 million...

Until someone does that these numbers are meaningless...
How can you guys post this.
You stick out your chest like you have this smoking gun evidence to shut the right up
and you have a spread like that...

Well it could be 1 million
or let me see.....maybe it was 4 million...

Yeh that's it that's the ticket...

Pretty weak.

100 million.

The government created no jobs.

It took money from companies that produced profits and from citizens who earned wages and subsequently paid tax and distributed that earned money to support pet projects of the wet nosed, inexperienced morons of the Obama elite to subsidize the failures of the Green economy.

 

[code1211]

TARP and Stimulus were the same thing.

Sorry, you are not entitled to your own facts.

What do they have in common?

Government stimulus to a failing economy
Conservatives opposed both

Conservatives should have opposed both. Bush asked for the TARP and, to his credit, spent half and left half to the discretion of the Big 0. Big mistake.

Reid and Pelosi devised the Failed Stimulus and the Big 0 seemed to stand by uselessly as is his wont and allowed them to waste the country's money on their paybacks, pay offs and bribes. It is now obvious that if the Big 0 was not the drover of this plan, he was certainly a strong supporter of it.

Now the Spender in Chief continues to spend more than any reasonable person would and still we see nothing as a return on the investment.

 

[code1211]

Bush stopped being a conservative and started listening to Paulson instead of Cheny and Rove. Too bad he waited until the last few months of his presidency

If he had done it a year earlier he could have prevented the disaster that shaped his presidency

Just to be clear, you seem to be saying that if he had implanted Liberal policies sooner, the Housing bubble would not have burst.

What was it about the lending practices defended by Dodd and Frank that was a Conservative policy? Is it a Conservative Doctrine to assure that the poor should have access to loans that they are likely to not repay?

Is it Conservative to subsidize the lending of Sub Primes?

You need to publish your Rightwinger to English dictionary.

 

[code1211]

USMB's Oddball Dude, using his felty-logic again? Felty-logic? Shit that sticks to ones brain like felt tape.

You can't prove your bullshit with any positively verifiable causal evidence....That is a fact.

Too bad for you.

Now, go stick some more pins in your voodoo doll.

Voodoo dolls? You people adore Reagan and his Bushes

A question was asked once about people like you...

Can the public trust a man who denied calling Reaganomics ''voodoo economics'' until a journalist turned up a videotape of Bush saying those very words, or who still denies knowing about arms-to-the-Ayatollah despite the fact that he attended a dozen meetings where it was discussed? And if he's already proved to be untrustworthy, why believe Bush's exaggerations today?

and then we had "Read my lips: no new taxes."

You people have been believing lies since the early days of voodoo economics/Reaganomics. You people even lie about your promises and then attack everyone else as being a liar.

projection

I believe the topic was Obama's failure.

Why are you talking about something else?

 

[code1211]

Bush stopped being a conservative and started listening to Paulson instead of Cheny and Rove. Too bad he waited until the last few months of his presidency

If he had done it a year earlier he could have prevented the disaster that shaped his presidency

More moronic revisionism.

God...Can you imagine what kind of shape this country would be in if we had listened to the Conservatives? Conservatives wanted to save the country with a tax cut

At least Bush got his mind right before he left office

I thought I remembered the Democrats crowing that a part of the Failed Stimulus was a Tax Cut.

 

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God...Can you imagine what kind of shape this country would be in if we had listened to the Conservatives? Conservatives wanted to save the country with a tax cut

At least Bush got his mind right before he left office

Did the Obama Stimulus save the banking system, as you claimed, or not?

Banks were falling like Dominos.

If Obama had listened to Conservatives and let them work it out ....they all would have failed. TARP prevented that collapse and helped stave off depression

TARP was a Bush program.

 

[code1211]

TARP was a stimulus

No, it was not. But keep making stupid shit up as you go.

The Differences Between TARP And The Economic Stimulus Package
There is confusion over the American Recovery and Reinvestment Act of 2009 (also known as the economic stimulus package) and the Emergency Economic Stabilization Act of 2008, also known as the Troubled Assets Relief Program (TARP).
Some people have taken liberties with both, lumping TARP in with the economic stimulus package and saying that they oppose the economic stimulus package because of TARP. However, TARP was not meant to stimulate anything. '

the albany project:: The Differences Between TARP And The Economic Stimulus Package


Now, this is where you change your story again.

Well ...let's see

Republicans opposed both
Both TARP AND Stimulus combined to stave off a depression and reverse an economy in complete collapse.

Neither could have done it on their own....Republicans tried to block both

TARP was a Bush program.

 

[code1211]

We were told if the stimulus was passed unemployment would not go above 8%. What is the current unemployment rate?

then you're an idiot. no one can guarantee a specific number of jobs. that is voodoo science.

What is the intelligence level of the person made the gaurentee?

 

[code1211]

estimates. btw, creating jobs is what the stimulus has done. myth debunked

Great job! An extra $5 trillion in debt and we still have fewer jobs than the day he walked into the Oval Office.

The USA was losing how many jobs a day before Obama came in? He slowed down the flow of jobs dying and then stopped it, and you have the imbecilic notion that that equals a bad thing?

There are about 3.5 million fewer Americans with jobs today than 4 years ago today.

 

[code1211]

We were told if the stimulus was passed unemployment would not go above 8%. What is the current unemployment rate?

FAIL

Unemployment was already above 8% when stimulus passed

Maybe if Republicans had not slowed down the passing of stimulus

So Obama did not know where he was, did not know where he was going and wanted to borrow money to do it.

What is it exactly that you respect in this guy's decision making?

 

[code1211]

Well ...let's see

Republicans opposed both
Both TARP AND Stimulus combined to stave off a depression and reverse an economy in complete collapse.

Neither could have done it on their own....Republicans tried to block both

Didn't Bush pass TARP or am I missing something?

Yup TARP 1

Bush finally learned to tell Cheney and the supply siders to fuck themselves

Banks and auto industry came to Obama for TARP 2...... Guess who voted against it?

TARP was one program and it was a Bush Program.

Bush spent half and held half for obama to use when he came into office. This is obviously not something that would have been done had the succession been in reverse.

 

[code1211]

oops repost:

Myth Debunked: Obama Stimulus Failed

4. Obama’s stimulus failed.

This has become a GOP talking point, repeated by everyone from John Boehner to Karl Rove to Romney. It isn’t true.

Objecting to various provisions of the stimulus or believing that it worsened the deficit isn’t the same as deeming it a failure. When the Obama administration was little more than a year old, three of the best-known economic research firms — IHS Global Insight, Macroeconomic Advisers and Moody’s Economy — all said the stimulus, which almost every Republican in Congress opposed, would create more than 2.5 million jobs. Last August, the nonpartisan Congressional Budget Office estimated that the stimulus package created between 1.4 and 4 million jobs. Even Mark Zandi, one of McCain’s economic advisers in 2008, has called the stimulus “a significant benefit to the economy’s performance.”

Five myths about Barack Obama - The Washington Post

This has become a GOP talking point, repeated by everyone from John Boehner to Karl Rove to Romney. It isn’t true.

Obviously. It kept unemployment from going over 8%.

Hold onto that.

A prediction doesn't come true and you have a nervous breakdown?

pre·dic·tion/priˈdikSHən/
Noun:
A thing predicted; a forecast.
The action of predicting something.

Synonyms:
prophecy - prognostication - forecast - augury

So you are saying that Obama has no real grasp on reality and that if he says something will happen, that is a prediction and not based in reality or data.

That explains plenty.