Obama Stimulus Turns Three: What Has It Achieved?

Discussion in 'Politics' started by Trader666, Feb 20, 2012.

  1. I think the airport got new floor tiles,that's infrastructure right?....:D

    The other infrastructure "shovel ready" projects seem to be parking lots.Parking lots don't require a whole lot of permits, epa reveiws.Everybody likes a parking lot....oh yea, new striping on the road for bicycles.
     
    #11     Feb 20, 2012
  2. This pretty much counters many of the points in one fell swoop.

    A new report by the nonpartisan Congressional Budget Office estimates that 1.4 million to 3.6 million people currently employed owe their jobs to the American Recovery and Reinvestment Act, better known as the stimulus plan..

    If we were to analyze every detail, from a non-partisan viewpoint, then we would likely see more common ground. No way to prove a negative, what if we didn't do it, right?


    c
     
    #12     Feb 20, 2012
  3. March 1933. 25% unemployment, bread lines, economy at a stop, FDR declares a bank holiday as his first act.
    Been there, done that. They're depending on the fact most of the folks who were put through that wringer are now dead.
     
    #13     Feb 20, 2012
  4. Key word is 'estimates'. Add that to 'created or saved'.

    What did the stimulus do to the LFPR?
     
    #14     Feb 20, 2012
  5. Just for the heck of it, I googles stimulus and cranes. I want to see building activity using cranes or heavy equipment, etc..

    I found this:

    MNN.COM›Earth Matters›Animals

    Stimulus funds help whooping cranes at Chassahowitzka National Wildlife Refuge in St. Petersburg, Fla., gets $13,000 to repair and maintain habitat for endangered birds that fly in for the winter.

    :D lmao....
     
    #15     Feb 20, 2012
  6. pspr

    pspr

    Facts are just funny things that get in the way of liberal speak.

    A new report the CBO released on Tuesday find that the American Recovery and Reinvestment Act MAY have boosted the economy in the short run by sustaining some 700,000 jobs at its peak in 2010 but "will reduce output slightly in the long run - by between 0 and 0.2 percent after 2016."

    The report estimates that the total number of jobs the plan produced was FAR FEWER than the 3,500,000 the Obama regime predicted during the peak of spending.

    The CBO estimates that the stimulus is responsible for SUSTAINING (not CREATING) between 600,000 to 1,800,000 jobs during this quarter, which lowered the nation's unemployment rate by as much as 1%.

    In July, the conservative Weekly Standard estimated Obama's stimulus package had COST TAXPAYERS $278,000.00 for every job it created.

    Remember when Obama and Joe "Bite-me" were claiming 3,600,000 jobs created or saved and I pointed out that was "baloney?" Obama's cronies kept their jobs and 53% of us get to pay for them.

    This is from an article by Paul Scicchitano released on (11/22/2011) all numbers are from the CBO.
     
    #16     Feb 20, 2012
  7. jem

    jem

    exactly... I would like to see the assumptions which went into that model. There is no way to know how many jobs were saved. Its like climate science. There is no way to know how low... how quickly we stabilized and how quickly we would have recovered.

    My view is that housing and commericial real estate were not being artificially supported. it would have bottomed a year and half ago and we would be booming by now.

    So prokulous and bailouts have cost us 3,000,000 to 10,000,000 jobs.
     
    #17     Feb 20, 2012
  8. Unemployment rate: The jobless rate is unchanged from February 2009 to January 2012, the latest month for which we have data. Both stood at 8.3%, according to the Bureau of Labor Statistics. Obama’s economists had initially predicted that with the stimulus, unemployment would stay below 8%.

    Number of long-term unemployed: The number of workers who have been unable to find a job in 27 months or more has shot up 83%, with their ranks now at 5.5 million.

    Civilian labor force: It has shrunk by 126,000. In past recoveries, the labor force climbed an average of more than 3 million over comparable time periods.

    Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%, labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower participation rate makes the unemployment rate look better.

    Household income: Median annual household income is about 7% below where it was in February 2009, according to the Sentier Research Household Income Index.

    National debt: Up $4.5 trillion, or 41%, according to the Treasury Department’s monthly reports. The latest Treasury figures put the national debt at $15.4 trillion, larger than the entire U.S. economy.

    Deficits: The deficit for fiscal year 2009 totaled $1.4 trillion. The Obama administration’s proposed deficit for 2012 is $1.3 trillion, which would mark the fourth year of deficits topping $1 trillion.
     
    #18     Feb 20, 2012
  9. I think he made a good point .
    I agree with you on GM classics.Some of these 40 years old engines are just awesome.
     
    #19     Feb 20, 2012
  10. Bullshit. These are almost all facts based on data unless there's been an error or someone's cooked the books in which case, where's your proof? Let's take them one by one:

    1) Unemployment rate: The jobless rate is unchanged from February 2009 to January 2012, the latest month for which we have data. Both stood at 8.3%, according to the Bureau of Labor Statistics. Obama's economists had initially predicted that with the stimulus, unemployment would stay below 8%. Fact. Not countered.

    2) Number of long-term unemployed: The number of workers who have been unable to find a job in 27 months or more has shot up 83%, with their ranks now at 5.5 million. Fact. Not countered.

    3) Civilian labor force: It has shrunk by 126,000. In past recoveries, the labor force climbed an average of more than 3 million over comparable time periods. Fact. Not countered.

    4) Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%, labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower participation rate makes the unemployment rate look better. Fact. Not countered.

    5) Household income: Median annual household income is about 7% below where it was in February 2009, according to the Sentier Research Household Income Index. Fact. Not countered.

    6) National debt: Up $4.5 trillion, or 41%, according to the Treasury Department's monthly reports. The latest Treasury figures put the national debt at $15.4 trillion, larger than the entire U.S. economy. Fact. Not countered.

    7) Deficits: The deficit for fiscal year 2009 totaled $1.4 trillion. The Obama administration's proposed deficit for 2012 is $1.3 trillion, which would mark the fourth year of deficits topping $1 trillion. Fact. Not countered.

    8) Gross Domestic Product: Real GDP has climbed just 6% between Q1 2009 and Q4 2011, according to the Bureau of Economic Analysis. Fact. Not countered.

    9) Spending by consumers and businesses: Personal consumption has managed to climb 10% in the past three years, according to the BEA, but companies continue to hoard cash, with cash on hand up 27% since Q1 2009, according to the Federal Reserve Bank. Fact. Not countered.

    10) Stimulus price tag: The original estimate for the cost of the stimulus was $787 billion. Now the Congressional Budget Office says that, when all is said and done, it will have cost $825 billion. Time will tell.

    11) Perhaps the best measure of the success or failure of the stimulus, however, is the fact that President Obama in his latest budget plan has called for still another round of stimulus spending, this time totaling $350 billion over the next four years, for what is labeled "short-term measures for jobs growth." Fact. Not countered.

     
    #20     Feb 20, 2012