CBO: Stimulus saved between 5 to 25 million jobs

[likeabird03]

When FDR took office, the economy was shrinking at a 10% rate. There was no recovery - only continued collapse. The first and most critical New Deal programs were passed in early and mid 1933. The four year period after that saw the fastest average growth in US history.

Maybe among idiots you can get away with making stupid claims, but not here.

GDP grew those four years, but it was from the bottom of the great depression and unemployment was still roughly 20%.

Unemployment fell from 25% (using modern calculations) to 16.5%, and we experienced the most rapid growth on record. In other words, unemployment fell by a 1/3rd or 9 points as part of the a record expansion....

and conservatives interpret that as "prolonging the Depression". No wonder they are so confused about the last 6 quarters of growth.

We slipped back into contraction in 1937 when the artificial stimulus dissipated. It wasn't until the onset of World War 2 that the Depression was over.

 

[Steelplate]

President Barack Obama’s 2009 economic stimulus bill which was passed in Congress during the first month of his Administration and which received opposition from all but three Congressional Republicans has thus far resulted in the employment for 5 million or more Americans according to the Congressional Budget Office’s 2011 third quarter ARRA accounting report released on Tuesday.

“The American Recovery and Reinvestment Act” (ARRA) was passed and enacted in February of 2009 and contained approximately $800 billion in stimulus programs, tax cuts and tax incentives to help the economy, which at the time was losing almost one million jobs a month.

In the CBO report, “Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from July 2011 Through September 2011,” a breakdown by year shows that the ARRA created or saved from 5 million to 25.4 million jobs from March 2009 through September 2011, as follows:

2009:a low estimate of .9 million jobs to a high estimate of 3.6 million jobs
2010:a low estimate of 2.6 million jobs to a high estimate of 13.2 million jobs
2011:a low estimate of 1.5 million jobs to a high estimate of 8.6 million jobs

In addition, according to the CBO, the stimulus is expected to help create or save another .3million to 2 million jobs in the fourth quarter of 2011, another .8 million to 4.6 million jobs in 2012.

CBO states Obama economic stimulus created or saved 5 million or more jobs - National liberal | Examiner.com

Dude... why do you even bother? The CBO only matters when it makes their point valid. When it doesn't... the CBO is wrong. been there many times before, and I gave up... they are obsessive in their ideology.

 

[Chris]

Cancer grows too.

The economy has been sputtering since the stimulus.

To ba you can't disprove that ? And why is it, according to you, that it is to bad he can't disprove it ?

Do you need evidence your Messiah is a failure ?

GDP has been growing since 2009.
The stock market has doubled since 2009.
Americans net worth is up $9 trillion dollars since 2009.
Americans paid off $1 trillion dollars of personal debt in the last few years.
We are leaving Iraq, which will save us billions.
We are leaving Afghanistan in 2014, which will save us billions.
Auto sales are up 13.9%,
Pending home sales are up 10%,
Retail sales are up 16%
And unemployment is down.

The economy is getting better and better.

Too bad you can't handle the truth.

The stock market has doubled since 2009.

No it hasn't.

Americans paid off $1 trillion dollars of personal debt in the last few years.

At least you stopped claiming this occurred over the last year.

And unemployment is down.

Still above the level when he took office.
Still above the 8% we were promised it would remain below, if only the stimulus passed.

The economy is getting better and better.

Not enough to save your Zero.

Stock market ....6443.27 on March 6, 2009, high for 2011 is 12,876.

It has doubled since 2009.

Unemployment was over 10% in 2009, it's now down to 8.6%

It has gone down.

Why are you lying?

 

[likeabird03]

Chris needs to give it up, find something more productive to do with his day, because obviously arguing economics is beyond his skill set.

 

[Chris]

Chris needs to give it up, find something more productive to do with his day, because obviously arguing economics is beyond his skill set.

It's fun to watch you Republicans twist in the wind trying to deny all the good news.

And I made all A's in economics in college.

But when you have no facts, personal attacks are all you have left.

 

[likeabird03]

Chris needs to give it up, find something more productive to do with his day, because obviously arguing economics is beyond his skill set.

It's fun to watch you Republicans twist in the wind trying to deny all the good news.

And I made all A's in economics in college.

But when you have no facts, personal attacks are all you have left.

Because we're done arguing with you. You fail to argue like an adult, you address virtually zero points and instead of discussing the facts at hand you change the subject, reply selectively, and post irrelevant crap.

 

[Neotrotsky]

Gallup

Reducing Unemployment by Shrinking the American Workforce

Normally, this sharp drop in unemployment -- whether measured before or after seasonal adjustment -- would be very good news, a sign that the U.S. economy is improving at a faster pace than generally recognized. Instead, a careful look at the government's data shows something else -- the decline in the unemployment rate was largely due to a sharp decline in the size of the U.S. workforce.

Truth is hard for the Left
In fact, it is there worst enemy

 

[Chris]

Chris needs to give it up, find something more productive to do with his day, because obviously arguing economics is beyond his skill set.

It's fun to watch you Republicans twist in the wind trying to deny all the good news.

And I made all A's in economics in college.

But when you have no facts, personal attacks are all you have left.

Because we're done arguing with you. You fail to argue like an adult, you address virtually zero points and instead of discussing the facts at hand you change the subject, reply selectively, and post irrelevant crap.

The stimulus saved us from another Great Depression.

The GDP growth and the jobs growth show that.

It is you that is changing the subject.

 

[Chris]

Gallup

Reducing Unemployment by Shrinking the American Workforce

Normally, this sharp drop in unemployment -- whether measured before or after seasonal adjustment -- would be very good news, a sign that the U.S. economy is improving at a faster pace than generally recognized. Instead, a careful look at the government's data shows something else -- the decline in the unemployment rate was largely due to a sharp decline in the size of the U.S. workforce.

Truth is hard for the Left
In fact, it is there worst enemy

Gee, our population is getting older and people are retiring.

Thanks for reminding us of that.

 

[Neotrotsky]

Stopped looking
In a truly healthy labor market, both the number of people working and the labor force would be growing.

Only an apologist for Papa Obama would not know that
oh

never mind

 

[likeabird03]

And I made all A's in economics in college.

Yeah... home economics. Get back in the kitchen because obviously discussing matters of micro and macro economics is beyond your capacity as a human being. And that is not a personal attack, you've proved this time and time again from the content of your posts.

 

[Chris]

And I made all A's in economics in college.

Yeah... home economics. Get back in the kitchen because obviously discussing matters of micro and macro economics is beyond your capacity as a human being. And that is not a personal attack, you've proved this time and time again from the content of your posts.

Yes, it is a personal attack.

You just can't stand that our economy is improving.

The next year is going to be very tough for you.

 

[Chris]

Stopped looking
In a truly healthy labor market, both the number of people working and the labor force would be growing.

Only an apologist for Papa Obama would not know that
oh

never mind

Not if the population was getting older and more people were retiring.

But like I said, thanks for reminding us of that.

 

[Neotrotsky]

The number of “discouraged” workers rose from October’s 967,000 to 1,096,000 in November

the average duration of unemployment rose to a new record of 40.9 weeks from the prior 39.4 weeks.

Truth is hard for the left

 

[likeabird03]

And I made all A's in economics in college.

Yeah... home economics. Get back in the kitchen because obviously discussing matters of micro and macro economics is beyond your capacity as a human being. And that is not a personal attack, you've proved this time and time again from the content of your posts.

Yes, it is a personal attack.

You just can't stand that our economy is improving.

The next year is going to be very tough for you.

I've never once said it was not improving, not yet. I've argued that it's improving somewhat despite of Obama, and that we would have seen a natural upswing in the economy after a protracted recession just like every time in the past.

What's most noteworthy is that the improvement is in the private sector, despite the sky is falling scenario painted by the left if we laid off govt workers and cut spending, which we need to do more of.

 

[Chris]

Yeah... home economics. Get back in the kitchen because obviously discussing matters of micro and macro economics is beyond your capacity as a human being. And that is not a personal attack, you've proved this time and time again from the content of your posts.

Yes, it is a personal attack.

You just can't stand that our economy is improving.

The next year is going to be very tough for you.

I've never once said it was not improving, not yet. I've argued that it's improving somewhat despite of Obama, and that we would have seen a natural upswing in the economy after a protracted recession just like every time in the past.

What's most noteworthy is that the improvement is in the private sector, despite the sky is falling scenario painted by the left if we laid off govt workers and cut spending, which we need to do more of.

I agree.

We need to cut the bloated defense budget and bring our troops home from Afghanistan.

 

[likeabird03]

Gallup

Reducing Unemployment by Shrinking the American Workforce

Normally, this sharp drop in unemployment -- whether measured before or after seasonal adjustment -- would be very good news, a sign that the U.S. economy is improving at a faster pace than generally recognized. Instead, a careful look at the government's data shows something else -- the decline in the unemployment rate was largely due to a sharp decline in the size of the U.S. workforce.

Truth is hard for the Left
In fact, it is there worst enemy

They've been shuffling numbers around to paint a rosy picture. Next you will see unemployment rise significantly and the left will be out saying that's okay because it was caused by the labor force growing and the economy is strong.

 

[Chris]

The number of “discouraged” workers rose from October’s 967,000 to 1,096,000 in November

the average duration of unemployment rose to a new record of 40.9 weeks from the prior 39.4 weeks.

Truth is hard for the left

It's going to be fun watching your posts as the unemployment rate goes down next year.

Please don't leave.

 

[Chris]

Gallup

Reducing Unemployment by Shrinking the American Workforce

Normally, this sharp drop in unemployment -- whether measured before or after seasonal adjustment -- would be very good news, a sign that the U.S. economy is improving at a faster pace than generally recognized. Instead, a careful look at the government's data shows something else -- the decline in the unemployment rate was largely due to a sharp decline in the size of the U.S. workforce.

Truth is hard for the Left
In fact, it is there worst enemy

They've been shuffling numbers around to paint a rosy picture. Next you will see unemployment rise significantly and the left will be out saying that's okay because it was caused by the labor force growing and the economy is strong.

Want to bet?

 

[likeabird03]

Yes, it is a personal attack.

You just can't stand that our economy is improving.

The next year is going to be very tough for you.

I've never once said it was not improving, not yet. I've argued that it's improving somewhat despite of Obama, and that we would have seen a natural upswing in the economy after a protracted recession just like every time in the past.

What's most noteworthy is that the improvement is in the private sector, despite the sky is falling scenario painted by the left if we laid off govt workers and cut spending, which we need to do more of.

I agree.

We need to cut the bloated defense budget and bring our troops home from Afghanistan.

Let's not forget about the fact that govt workers total compensation is about 50% higher in the public sector and that pensions/entitlements are out of control. Let's not forget that govt payrolls are above their 2008 level while the rest of the economy took a huge hit. It's kind of like a cancer that continues to grow by feeding off itself after it killed of the host.

This is what happened during the recession. We have a lot of unwinding to go in the public sector to get our economy back into balance.

See how I posted a relevant graph to back up my point instead of posting irrelevant nonsense like you?