USA Today Tries To Provide Shelter For Obama And Dems On Stimulus

With the mid-term elections fast approaching, and the blood-bath that should occur, the Credentialed Media is doing all they can to prop Obama and the Democrats up, especially regarding the economy. They try pithy things like

Economists agree: Stimulus created nearly 3 million jobs

in order to show that Democrats have actually Done Something. Of course, they forget the part where the economy is still in the tank, and is backsliding after some gains. They forget that Democrats wasted 8 months whining about ObamaCare, and really have no clue what to do, outside their little Keynesian box. They haven’t forgotten that the economy is the #1 most important issue for the American People, who feel that Obama and the Dems have done a terrible job. Expect more and more stories like this as we head towards November

Amid mounting signs that the economic recovery is faltering, one potential remedy seems out of the question: a booster shot of government spending.

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 gave been called Great Depression 2.0.”

Eighteen months later, the consensus among economists is that the stimulus worked in staving off a rerun of the 1930s…..

Wow, two! Hallelujah, we have a consensus!

Tell you what, since it is Monday, let’s be charitable, and give Barry 3 million saved or created. Consider: stimulus mostly went to government of all levels, and kept government workers, including teachers, police officers, and firemen, working. For a year. It kept a whole bunch of people building and repairing roads, painting bridges, and standing around holding stop/slow signs. For the length of the project. It employed people to go knock on doors and ask how many people lived there. For a few months. So, sure, let’s say 3 million. 3 million saved and then lost again.

But, wait a moment, what’s this?

It’s impossible to determine precisely how many jobs or how much growth the stimulus program caused. In a nearly $14 trillion economy, economists can’t go employer to employer counting new hires. And there are too many moving parts to confidently link any single factor with individual hiring decisions. Roughly one-third of the stimulus, for example, came in the form of tax cuts, which are designed to boost demand for a wide array of products and eventually result in related hiring.

So, they make it up using computer models and such. As far as the tax cuts, like the jobs created/saved, they were short term measures, and their impact was the same: short term. Consumer confidence is down, people are not spending, and, heck, they are even holding off on getting pregnant.

So, after a $787 billion boondoggle, what is the answer? Of course, these same economists and people in the media want more government spending, to supplement the spending that didn’t work in the long term. And that’s where it matters, the long term.

Crossed at Right Wing News and Stop The ACLU

Save $10 on purchases of $49.99 & up on our Fruit Bouquets at 1800flowers.com. Promo Code: FRUIT49
If you liked my post, feel free to subscribe to my rss feeds.

Both comments and trackbacks are currently closed

RSS feed

You can login to comment with:

Trackbacks/Pingbacks

3 Comments

Comment by John Ryan
2010-08-30 19:16:53

USA Today was quoting from the non partisan CBO. Teach 1/3 of the Stimulus was for tax cuts why are you against that ? 1/3 went to states to stop layoffs of teachers firemen and cops ? why do you hate that ?

 
Comment by captainfish
2010-08-30 20:01:14

So, they take the money from the people’s future to pay the state’s now and that makes it alright?

They use the money to pay for police and teachers yet have to come back and pass another $26 billion loan to save those same teacher and police jobs?

Stimulus for tax cuts? Care to show proof? And, doesnt that strike you as an oxy-moron? Like charging more for a product to give a rebate?

Quote:
“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.”

So, they created (boosted) @ 3 million jobs? Yet, the economy lost over 4 million jobs since Obama came to office to save the world. And hasn’t the GDP skyrocketed as a % of economy? And that is a very bad sign. Which also means that our economic output sank, not increased.

oh, btw, our economy is not $14 Trillion. That is our national DEBT. Our economy is about $2 Trillion. Under a Conservative leader who believes in limited government, that would be about $750 billion or less.

 
Comment by captainfish
2010-08-30 21:32:34

update -
http://gatewaypundit.firstthings.com/2010/08/thanks-barack-stimulus-jobs-cost-taxpayers-195000-each/
Those stimulus jobs? Cost each American nearly $200,000 each.

 

Sorry, the comment form is closed at this time.

Bad Behavior has blocked 8973 access attempts in the last 7 days.

Performance Optimization WordPress Plugins by W3 EDGE