The methodology used by Obama's minions is given in the following. Note that there ISN'T a formula to determine jobs created! It's all about jobs saved! Why? Because they can set that number at anything they want and there is no way to prove or disprove it. It's nothing but smoke and mirrors to hide how few jobs were created. They know it...I know it...anyone with a basic economics background knows it...but YOU don't have a clue!
https://www.whitehouse.gov/sites/default/files/microsites/Estimate-of-Job-Creation.pdf
Let's be clear...that article is only talking about jobs created attributable to the ARRA. Jobs created, by itself, is trivial and done every month...it's the number of jobs in time period t minus the number of jobs in time period t-1.
Estimating the impact of specific legislation is a different kind of flying altogether. But that doesn't make it smoke and mirrors or dishonest. Nor does it make it correct. The accuracy depends on the validity of the assumptions.
Trying to prove that jobs saved is invalid seems to be oldstyles thing. Assuming that no jobs are saved by stimulus efforts seems a bit dangerous. Seems that is always a major wanted result of stimulus.
The formulas I have seen for jobs saved get into ue rates over time periods along with populations of workers. Simple enough, really. But to me, it is more useful to look at a simple metric, that being the ue rate, over time. And a good dose of economic history. Mostly whether the ue went up without stimulus, and where it went after stimulus was applied.
What I also am convinced of is that it is really important to look at the multipliers for the different stimulus components. The multiplier is quite different, for instance, for tax reductions, particularly to the relatively wealthy, than it is for infrastructure spending.
thanks, by the way, for your input.
So you've "seen" formulas for "jobs saved", Georgie? By all means...share one of those formulas with us!
As for the multipliers for the different stimulus components? Kindly provide the formulas that Obama's economists used to arrive at THOSE numbers!
You still haven't figured it out yet...have you? All those numbers are based on assumptions...none of it is based on proven statistical analysis. They made it up. They started from the results they wanted...and plugged in the numbers to make that happen. When you give the CBO bullshit numbers then the CBO will crunch those numbers and give you an answer that is also bullshit. That's not a reflection on the CBO...they work with the numbers they are provided.
There are indeed formulas, or at least one. But no, I will not show it to you. I am still waiting for the bills that repubs passed, me boy. But perhaps you have learned that they did NOTHING, because they could care less about the middle class.
Relative to the multipliers, those like other numbers that come from economists are based, typically, on the results derived from experience with stimulus. I know, you believe like R. Reagan used to believe, before he died and before he determined that stimulus was in his best interest.
I have it, oldstyle, you are a true con tool. You drink the coolaid. You prefer to believe what you are told. Because that is what cons do. They do not believe economists, but they do believe other cons. The cons have no credentials, but you WANT to believe. Which is the way cons are. Which is why it is SOOOO easy to get you to believe, say, and do what they want you to.
You do not believe in global climate change, because you would rather believe the energy industry than scientists. You believe in money in politics because that is what you have been told is a good thing. If the middle class is going away, that is fine with you. You hate unions, because you have been told to. You, in fact, always line up perfectly with the bat shit crazy con web sites. Because you want to believe. You like being angry. And you like being part of a team that is against everything that is conservative.
I, me boy, and most people, like truth, and reason, and journalistic work, So, there you are. You are living in a false belief system, but it is truth as far as you are concerned.
The CBO has been trusted by conservatives and liberals for decades. But not real cons. Because the CBO does everything it can to provide the truth. And cons, like you, hate the truth. If it does not meet with what you are told to believe, you hate it.
You make nonsense claims like Obama, or his people, give the cbo bullshit numbers. But you have no proof. And the CBO says that does not ever happen. But your bat shit nut case web sites give you the information you CHOOSE to believe. I am not sure how anyone would want to be that small. But obviously you do.
