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Old 08-04-2011, 05:57 PM
 
12,638 posts, read 8,910,167 times
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"A friend of mine was asked to attend a costume party. He put egg on his face and went as a liberal economist." -Ronald Reagan
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Old 08-04-2011, 06:05 PM
 
69,368 posts, read 63,891,310 times
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Quote:
Originally Posted by dnvrsoul View Post
Great stimulus..the DOW dropped what 500 points today because we are going back in a recession...? Nice
Not exactly. The DOW drop today was due to a tightening of margin requirements, pushing people out of their positions.
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Old 08-04-2011, 06:07 PM
 
Location: Houston, Texas
10,447 posts, read 49,545,229 times
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It did create 3 million jobs. Maybe more!! All in China. None in the USA.
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Old 08-04-2011, 06:12 PM
 
Location: Pa
20,300 posts, read 22,155,989 times
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Quote:
Originally Posted by A_Lexus View Post
It's pretty simple. When President Obama took office, the country was an economic mess courtesy of Bush and the Republicans. They kept taxes low, especially for the rich, and still wrecked the economy. We had a record deficit. Further cuts kept us on the same road to ruin. This is what the GOP wants now so the economy looks bad and they can campaign about it being President Obama's fault. The GOP is focused only on the next election. They have nothing positive to campaign about themselves because their record has been worse than dismal, so they do what they do best: help wreck the economy - blame it on Obama. They're primitive and perpetuate neanderthal economic policies.

President Obama's plans work. They help the economy, create jobs. The problem though is the ongoing Republican obstructionist tactics in Congress. With Republicans in this mode, further progress is hampered. The GOP's tea party contingent also represents a stench that this country doesn't need.

I expect voters to reflect this reality next year, voting to replace Conservatives with their superiors: Democrats. Another clear victory for President Obama as well.
Hmmmm partisan drivel at its finest. Last 2 years of GWB dems held the house. First 2 years of obama? Dems had it all. Total of 4 years of Dem control. At what point do you start to hold your own party equally accountable?
The banking crisis due to deregulation. Barney frank and Dodd??? Clinton???
Lets try this on for size. Both party's had their hands in this mess. They ignored the needs of our country in the interests of building their power.
How can you honestly say the dems are the answer when they share ownership of this mess?
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Old 08-04-2011, 06:26 PM
 
Location: The middle of nowhere Arkansas
3,325 posts, read 3,159,828 times
Reputation: 1015
Quote:
Originally Posted by sickofnyc View Post
The White House says the multiyear $814 billion stimulus program passed by Congress in 2009 boosted employment by 2.5 million to 3.6 million jobs and raised the nation's annual economic output by almost $400 billion. A recent study by two prominent economists generally agrees, crediting the pump-priming with averting "what could have been called Great Depression.

Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com


Of course the Republicans will never admit that they are attempting to bury the facts and their base is so gullible that when facts bite them on the butt, they don't recognize them.

Republican Economic Sabotage Continues

The firesale of budget-cuts and layoffs that we are witnessing across the nation at the state level are taking place now primarily because the stimulus funds which kept those states afloat have, for the most part, dried up. Some states, such as Florida, are still including stimulus funds in their budgets while their respective governors also claim that the stimulus didn’t work. If that’s truly the case, can we have the money back?

If the stimulus really didn’t work, unemployment would currently be northwards of 12% or more, not 9%. The only true failing of the stimulus program is that it wasn’t big enough.
Republican Economic Sabotage Continues | Bob Cesca's Awesome Blog! Go!
This from the cbo. At an average cost of 230,000 per job I'd say there is little wonder this country is dead, flat, broke.

source
Quote:
CBO: Jobs from Federal Government “Stimulus” Cost on Average $228,055 Each

Saturday February 26th, 2011 • Posted by David Theroux at 5:15pm PST •

Matt Cover at CNSNews.com writes that the Congressional Budget Office (CBO) has just issued a new report, “Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2010 Through December 2010,” that indicates that:

The jobs created and saved by the economic stimulus law that President Barack Obama signed on Feb. 17, 2009 cost at a minimum an average of $228,055 each, according to data released yesterday by the Congressional Budget Office (CBO).In a report released Wednesday—“Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October Through December 2010”—the CBO said it now estimates the stimulus law cost a total of $821 billion, up from CBO’s original estimate that the stimulus would cost $787 billion.

In the same report, the CBO estimated that in the fourth quarter of 2010 there were somewhere between 1.3 million and 3.5 million people who were then employed who would not have been had the stimulus not been enacted. “CBO estimates,” says the report, “that ARRA’s policies had the following effects in the fourth quarter of calendar year 2010: … Increased the number of people employed by between 1.3 million and 3.5 million.”

This estimate seeks to state the net impact the stimulus had on the number of people employed in the United States as a result of the stimulus, taking into account not only the new jobs believed to be created and the existing jobs believed to be killed by the stimulus, but also the existing jobs that were saved that otherwise would have been lost.

The CBO’s estimate that there were 1.3 million to 3.5 million people employed in the fourth quarter of 2010 who would not have been were it not for the stimulus represents a decline from the 1.4 million to 3.6 million people CBO estimated were employed as a result the stimulus during the third quarter of 2010. (See Table 1 in the report.) In fact, CBO now estimates that the apogee of the stimulus’s net job-creating-and-saving power occurred in the third quarter of 2010 when it believes somewhere between 1.4 million and 3.6 million people had jobs they would not have had except for the stimulus.

Thus, the $821 billion cost of the stimulus divided by the maximum of 3.6 million jobs the CBO believes the stimulus may have saved or created equals an average of $228,055 per job.At the lower end of the CBO’s top job-creating-and-saving estimate for the stimulus—1.4 million jobs—the jobs would cost an average of $586,428 a piece................
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Old 08-04-2011, 06:40 PM
 
Location: Texas State Fair
8,560 posts, read 11,177,884 times
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Economists agree: Stimulus created nearly 3 million jobs

Yeah, but comes up 400,000 short every week.
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