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Who predicted it right? And who predicted that this country will lose an unprecedented 6.5 million private sector jobs in only one year (FY2009). Clearly, you have absolutely NO idea of the scale of the debacle he inherited. Either that, or a serious memory problem. But then, political hacks do so naturally to promote denial.
If you want to whine about something, find something that is honest and not pure political bickering.
Surely the smart Obama knew what he was getting into, right? Why would he campaign, set records for spending during that campaign and forecast how he would fix things?
He does not deserve another chance at 4 years, of screwing us up even more then we now are, i do not believe, he can fix this. But has millions of excuses why he can't! None of this his his fault, yada yada, yada!
But, but, but, it's Bush's fault. He even said so last week when he managed to insult the former president at his picture ceremony.
Surely Obama wouldn't lie about whose at fault, would he?
Widely circulated. It perhaps was on right wing blogs where the report was misrepresented maybe. The post is utterly false.
The number of time Obama mentioned the 8% figure? 0
It's an utter lie. Nothing other than some emotional partisans of the right variety trying to whine and justify their emotions.
It's more melancholy and speaks to the dearth of education in young males. Most people on here are angry and clueless and you see it in their posts. They can't justify most of what they say and plenty of them can't even write properly. It's too bad the site doesn't have some sort of IQ captcha to filter out less than intelligent posts.
Yes. You need to look in the mirror.
It wasn't just on right wing blogs. Your ignorance is showing.... and the only excuse I can think of is bias.
"Kudos, by the way, to the administration-in-waiting for providing this — it will be a joy to argue policy with an administration that provides comprehensible, honest reports, not case studies in how to lie with statistics.
That said, the report is written in such a way as to make it hard to figure out exactly what’s in the plan. This also makes it hard to evaluate the reasonableness of the assumed multipliers. But here’s the thing: the estimates appear to be very close to what I’ve been getting.
The key thing if you want to do comparisons is to note that I made estimates of the average effect over 2009-2010, while they do estimates of effect in the fourth quarter of 2010, which is roughly when the plan is estimated to have its maximum effect. So they say the plan would lower unemployment by about 2 percentage points, I said 1.7, but their estimate may actually be a bit more pessimistic than mine. They have the plan raising GDP by 3.7 percent, but that’s at peak; I thought 2.5 percent or so average over 2 years, again not much difference. So this looks like an estimate from the Obama team itself saying — as best as I can figure it out — that the plan would close only around a third of the output gap over the next two years."
Who predicted it right? And who predicted that this country will lose an unprecedented 6.5 million private sector jobs in only one year (FY2009). Clearly, you have absolutely NO idea of the scale of the debacle he inherited. Either that, or a serious memory problem. But then, political hacks do so naturally to promote denial.
If you want to whine about something, find something that is honest and not pure political bickering.
Oh...
OK, let's review.
Bummer decides to spend a trillion dollars because he's smarter than the people who caused the problem.
Christina Romer, on behalf of the administration, promised to keep unemployment below 8% provided we approved Obama's stimulus request.
Now that the Obama Administration's cluelessness is a matter of history, we are told more time is needed to accomplish the administration's goals.
With debt accumulating faster than at any point in our history and the economy still in the tank, I'm not really sold on that one.
In this memo, it was was pointed out TWICE that that there is substantial
uncertainty around all of our estimates.
It should be understood that all of the estimates presented in this memo are subject
to significant margins of error. There is the obvious uncertainty that comes from
modeling a hypothetical package rather than the final legislation passed by the
Congress. But, there is the more fundamental uncertainty that comes with any estimate
of the effects of a program. Our estimates of economic relationships and rules of
thumb are derived from historical experience and so will not apply exactly in any
given episode. Furthermore, the uncertainty is surely higher than normal now because
the current recession is unusual both in its fundamental causes and its severity.
G. Conclusions
This study has sought to investigate the likely job creation effects of the American
Recovery and Reinvestment Plan currently under consideration. As emphasized at many
points in the analysis, there is substantial uncertainty around all of our estimates.
Nevertheless, we believe they can provide useful guidance as we go forward.
Nether Obama nor ms Romer made any promise to keep unemployment below 8%.
You are a liar. period.
How does one take money out of economy, and put this money where?
You need someone to explain this to you? Can you say "I know nothing about economics, but I pretend I do on Cd.com"..
Hey Einstein, where do you think the money comes from?
Quote:
Originally Posted by EinsteinsGhost
But, as usual, your response had nothing to do with my question: When was the last time it happened without any government intervention?
Doesnt matter.
Quote:
Originally Posted by EinsteinsGhost
I did, but I didn't see job recovery with the first stimulus. Why? It is logical to assume that economic recovery leads to job recovery. Why was there a lag time? After all, the argument you make can also be made as is for 2009 stimulus,
Because everyone knows jobs are a lagging indicator. How many times have you said that yourself?
Quote:
Originally Posted by EinsteinsGhost
except that in this case I will add that economy started to add jobs in six months after the recession and without the need for an additional stimulus.
Actually jobs started being added BEFORE the stimulus was even spent..
Quote:
Originally Posted by EinsteinsGhost
Just informing you that your school delivered some crazy ideas, that global economies in fact work in isolation and have no impact on each other. Isn't that something you "know" from your schooling? Or, do you agree that major economic turmoil elsewhere (as in Europe) has an effect here?
Of course economic turmoil elsewhere has effect here, and the $500B spent is NOTHING in a worldwide economy. Thats why it FAILED.. Not only did it not stimulate, but because it FIRST had to remove money from the economy, in order to put it in, it did ZERO!!!
Quote:
Originally Posted by EinsteinsGhost
And while at it, allow me to also address the rest of the non-sense you spewed on the previous page:
Who here has claimed that $500B was large enough for even US economy, much less as a safeguard against global economic issues?
Obama claimed it. Dont you remember him running around proclaiming recovery summer?
You urself said obama turned things around, now you are saying he didnt? make up your mind..
At least you admit that Roadking2003 lied about Obama saying this, but still
It's not cool to lie about a lovely lady like ms Romer.
Nether Obama nor ms Romer made any promise to keep unemployment below 8%.
You are a liar. period.
For Republicans, Lying is a way of life.
--------- bluecoller -- the grumpy old kraut ----
So Obama didnt sell the stimulus by saying jobs would result? THEN WHY DID WE SPEND THE MONEY?
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