CBO: Stimulus saved between 5 to 25 million jobs

[Listening]

Another bump for a failed stimulus and the wonder-myths it created.

I love the idea that wasteful government spending, spread out over 3 years, totalling about 5% of a single years GDP, is the only thing that kept us from the abyss.

Yeah,

If 5 trillion is good.....10 trillion will make us all millionaires !

 

[likeabird03]

Another bump for a failed stimulus and the wonder-myths it created.

I love the idea that wasteful government spending, spread out over 3 years, totalling about 5% of a single years GDP, is the only thing that kept us from the abyss.

Because that was never the point of the stimulus and liberals know it. It was always meant to be a giveaway to Obamas special interests. That's why even if it did create 1.5 million jobs (which it did not), that works out to be half a million dollars per job. The stimulus wasn't meant to help the average worker.

 

[Chris]

Another bump for a failed stimulus and the wonder-myths it created.

I love the idea that wasteful government spending, spread out over 3 years, totalling about 5% of a single years GDP, is the only thing that kept us from the abyss.

Because that was never the point of the stimulus and liberals know it. It was always meant to be a giveaway to Obamas special interests. That's why even if it did create 1.5 million jobs (which it did not), that works out to be half a million dollars per job. The stimulus wasn't meant to help the average worker.

The stimulus helped every American.

It saved us from another Great Depression.

 

[Listening]

I love the idea that wasteful government spending, spread out over 3 years, totalling about 5% of a single years GDP, is the only thing that kept us from the abyss.

Because that was never the point of the stimulus and liberals know it. It was always meant to be a giveaway to Obamas special interests. That's why even if it did create 1.5 million jobs (which it did not), that works out to be half a million dollars per job. The stimulus wasn't meant to help the average worker.

The stimulus helped every American.

It saved us from another Great Depression.

The stimulus didn't save squat. The economy healed itself (any healing it is doing).

There was no great depression to be had.

Libeals hate liberty.

Get rid of President Obama in 2012.

It's the right thing to do.

 

[Toddsterpatriot]

I love the idea that wasteful government spending, spread out over 3 years, totalling about 5% of a single years GDP, is the only thing that kept us from the abyss.

Because that was never the point of the stimulus and liberals know it. It was always meant to be a giveaway to Obamas special interests. That's why even if it did create 1.5 million jobs (which it did not), that works out to be half a million dollars per job. The stimulus wasn't meant to help the average worker.

The stimulus helped every American.

It saved us from another Great Depression.

$800 billion in wasteful spending saved a $14 trillion economy? LOL!

 

[8537]

Because that was never the point of the stimulus and liberals know it. It was always meant to be a giveaway to Obamas special interests. That's why even if it did create 1.5 million jobs (which it did not), that works out to be half a million dollars per job. The stimulus wasn't meant to help the average worker.

The stimulus helped every American.

It saved us from another Great Depression.

$800 billion in wasteful spending saved a $14 trillion economy? LOL!

It wasn't 800B in spending - it was almost 40% reductions in taxes. It didn't occur in a single fiscal year. And no one's claiming it's the only thing that saved the economy. The government, the Fed and the private sector all took a series of extraordinary steps to prevent further collapse. It was a series of actions, a level of intervention, that greatly exceeded any prior efforts including the Fed response to 9.11.

 

[Toddsterpatriot]

The stimulus helped every American.

It saved us from another Great Depression.

$800 billion in wasteful spending saved a $14 trillion economy? LOL!

It wasn't 800B in spending - it was almost 40% reductions in taxes. It didn't occur in a single fiscal year. And no one's claiming it's the only thing that saved the economy. The government, the Fed and the private sector all took a series of extraordinary steps to prevent further collapse. It was a series of actions, a level of intervention, that greatly exceeded any prior efforts including the Fed response to 9.11.

It wasn't 800B in spending - it was almost 40% reductions in taxes

Oh, so $480 billion in wasteful spending and $320 billion in temporary tax credits saved a $14 trillion economy.

Spread over 2 or 3 years. Yes, Chris is claiming that's the only thing.

 

[Listening]

$800 billion in wasteful spending saved a $14 trillion economy? LOL!

It wasn't 800B in spending - it was almost 40% reductions in taxes. It didn't occur in a single fiscal year. And no one's claiming it's the only thing that saved the economy. The government, the Fed and the private sector all took a series of extraordinary steps to prevent further collapse. It was a series of actions, a level of intervention, that greatly exceeded any prior efforts including the Fed response to 9.11.

It wasn't 800B in spending - it was almost 40% reductions in taxes

Oh, so $480 billion in wasteful spending and $320 billion in temporary tax credits saved a $14 trillion economy.

Spread over 2 or 3 years. Yes, Chris is claiming that's the only thing.

What is more silly is this artilce of faith on the part of the left that the stimulus somehow "saved" us from another great depression.

That is pure spin used to justify the actions. After all, if you are going to take the country to near bankruptcy you'd better have a freaking good reason to do so.

 

[Chris]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

 

[LeftofLeft]

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

The emphasis is "Saved Jobs". When an organization, be it a company or government agency, has layoffs, those left standing have a sens that their job was saved. At the same time, when there is another round of "saved jobs", those on the saved jobs side are relieved to be saved again but they don't necessarily have the greatest sense of optimism for positive growth for the short term.

Bragging about what was not lost will only get you so far. Oh, then there are those whose jobs were LOST. Are they going to buy the jobs SAVED pitch?? If so, why should they?

 

[Listening]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

Never proven the economy was in a deflationary spiral. What prices dropped besides homes (and that was a bubble burst) ?

Keep with the wallpaper there inky.

You look more stupid each time you post it (not that you could ever hope to explain it).

 

[Toddsterpatriot]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

GDP over the nine quarters shown on that chart since the "Recovery Act begins" was over $32 trillion. The "goverment demand of last resort" was how much? $450 billion? $500 billion?

About 1.5%?

 

[Listening]

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

The emphasis is "Saved Jobs". When an organization, be it a company or government agency, has layoffs, those left standing have a sens that their job was saved. At the same time, when there is another round of "saved jobs", those on the saved jobs side are relieved to be saved again but they don't necessarily have the greatest sense of optimism for positive growth for the short term.

Bragging about what was not lost will only get you so far. Oh, then there are those whose jobs were LOST. Are they going to buy the jobs SAVED pitch?? If so, why should they?

Look at President Obama's approval ratings.

Nobody's buying anything except a one way ticked for he and his family back to Chicago on a garbage truck.

 

[Chris]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

Never proven the economy was in a deflationary spiral. What prices dropped besides homes (and that was a bubble burst) ?

Keep with the wallpaper there inky.

You look more stupid each time you post it (not that you could ever hope to explain it).

Stocks, home prices, gasoline, etc....

Other than that Mrs. Lincoln, how did you enjoy the play?

 

[Chris]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

GDP over the nine quarters shown on that chart since the "Recovery Act begins" was over $32 trillion. The "goverment demand of last resort" was how much? $450 billion? $500 billion?

About 1.5%?

So we got a lot bang for the buck.

Glad you are finally getting it.

 

[Listening]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

Never proven the economy was in a deflationary spiral. What prices dropped besides homes (and that was a bubble burst) ?

Keep with the wallpaper there inky.

You look more stupid each time you post it (not that you could ever hope to explain it).

Stocks, home prices, gasoline, etc....

Other than that Mrs. Lincoln, how did you enjoy the play?

Hahahahahahaha.....

Keep reading those DailyKos talking points.

They will get you some kind of award.

Stocks are delationary. So every time the market drops we are experiencind deflation.

Homes....a bubble.

Gasoline....never happened.

It is all a play....in your tiny little brain.

 

[Flopper]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

GDP over the nine quarters shown on that chart since the "Recovery Act begins" was over $32 trillion. The "goverment demand of last resort" was how much? $450 billion? $500 billion?

About 1.5%?

When the recovery act was passed, all the economist were telling us that the recession would be a 4% loss of GDP, as it turn out it was twice that bad. The recovery act did exactly what it was design to do, recover from a rather mild recession. The problem of course was the recession was anything but mild.

 

[Listening]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

GDP over the nine quarters shown on that chart since the "Recovery Act begins" was over $32 trillion. The "goverment demand of last resort" was how much? $450 billion? $500 billion?

About 1.5%?

So we got a lot bang for the buck.

Glad you are finally getting it.

He's a one termer.

That all anyone needs to get.

Liberals hate liberty.

 

[Listening]

When an economy is in a deflationary spiral, the government MUST be the demand of last resort.

And it worked.

GDP over the nine quarters shown on that chart since the "Recovery Act begins" was over $32 trillion. The "goverment demand of last resort" was how much? $450 billion? $500 billion?

About 1.5%?

When the recovery act was passed, all the economist were telling us that the recession would be a 4% loss of GDP, as it turn out it was twice that bad. The recovery act did exactly what it was design to do, recover from a rather mild recession. The problem of course was the recession was anything but mild.

No connection whatsoever.

 

[likeabird03]

I love the idea that wasteful government spending, spread out over 3 years, totalling about 5% of a single years GDP, is the only thing that kept us from the abyss.

Because that was never the point of the stimulus and liberals know it. It was always meant to be a giveaway to Obamas special interests. That's why even if it did create 1.5 million jobs (which it did not), that works out to be half a million dollars per job. The stimulus wasn't meant to help the average worker.

The stimulus helped every American.

It saved us from another Great Depression.

I've already explained numerous times that was not the case. You gave up on trying to argue it and had no valid responses. Now you keep resurrecting the rhetoric. The Stimulus didn't save us from a depression, end of story.