CNS News catches something interesting from The Petulant President’s presser on Monday
Three days after the U.S. Department of Labor reported that the national unemployment rate had ticked up from 9.1 percent in May to 9.2 percent in June, President Barack Obama said that the loss of jobs in the public sector is “evidence†that his $830-billion economic stimulus legislation worked.
“Now, without relitigating the past, I’m absolutely convinced, and the vast majority of economists are convinced, that the steps we took in the Recovery Act saved millions of people their jobs or created a whole bunch of jobs,†Obama said at his Monday press conference.
“And part of the evidence of that is as you see what happens with the Recovery Act phasing out,†he said. “When I came into office and budgets were hemorrhaging at the state level, part of the Recovery Act was giving states help so they wouldn’t have to lay off teachers, police officers, firefighters. As we’ve seen that federal support for states diminish, you’ve seen the biggest job losses in the public sector–teachers, police officers, firefighters losing their jobs.â€
Now, to be fair, he is correct: the Porkulus did temporarily save millions of jobs, as the federal government mortgaged the future to simply give money to state governments, along with some private sector groups (that mostly created nothing of lasting consequence). At least FDR’s projects had a lasting impression, having built bridges, roads, and dams, among others. Obama’s “Stimulus” just gave the money away, and all we chalked up was a temporary reprieve from turning into, well, we aren’t quite to Greece yet, so, let’s say, more like Spain.
As federal hand outs to the States end, we see that most States are in poor financial conditions, as the Dead Parrot economy hangs on to the perch, barely moving. If people are still unemployed, if they aren’t spending much, if they aren’t buying big ticket items, States do not capture as much income tax, sales tax, nor property tax. There isn’t as much tax coming from companies, either, nor the associated entitlement taxes. The money just isn’t there. And all this leaves States in a bad position, because all the so-called Stimulus did was provide handouts and mask the underlying instabilities.
Crossed at Right Wing News and Stop The ACLU.
“I’m absolutely convinced, and the vast majority of economists are convinced,…”
Bloomberg took a poll of 85 economists when the last job numbers were coming out.
NONE of them were right. The closest one was way off and the farthest ones were so far off that it couldn’t be explained. All of them should have been fired. Why? Because we see this every month. This is the bunch Obama is touting. This is the bunch who are always telling us to believe Obama – hope and change are right around the corner. This is the bunch who are never, ever right.
Here is a link to my comment above:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/07/08/BUBN1K85VJ.DTL
“>>>>part of the Recovery Act was giving states help so they wouldn’t have to lay off teachers, police officers, firefighters.>>>”
yeah who woulda thunk it. I mean after all UNION jobs had to be protected. We had to funnel billions to the states so they would not lay off those poor progressives.
My daughter just graduated with honors with a degree in elementary education. She cant find a job anywhere. Several girls in the same class already have jobs back home in the same districts with their mothers, brothers, uncles and cousins.
It seems the school districts only want to hire known Progressives.
Another instance……A gal came from New Jersey and applied for a job teaching English. She was hired on the spot. With roughly 260 applications for that one job.
We were all shocked until we found out….her dad was a union stewart in New Jersey with the Teamsters.
You keep hearing about the 40% who still follow Obama but I have a feeling that we may see him sent home in 2012 to the tune of about 80% against. Remember, there is still a year and a half left of HIS policies.
On one of the business shows this morning, they pointed out that we have the same number employeed now as we did in 1999. If you are an investor, you will know that you have not made any money since 1999. Part of this is Bush, for which I ahve no use as he was liberal like Obama, part the Democrat congress and part the idiot Republican congress and thus the necessity to only vote TEA party. But a large part is now Obama, expecially with his big budgets, health care, etc. We need to clean house, if the voting process does not work, we need to seek other ways.
I’m confused. Since when are state jobs and state-employed union jobs considered PRIVATE sector?!!? Silly me, but I consider those teachers, firefighters and cops part of the PUBLIC sector since they are paid via tax dollars – and many from federal taxes and grants.
So, to me, the whole argument again is false.
Now, the idea behind it, as you Teach laid out, is sound. However, for stimulus to have an impact upon a depression, it must be long lasting stimulus. But, a country also must be able to absorb that debt with an expectation of being able to pay it off following the recession.
However, we have not been able to pay our debt for decades. And with the entire globe seeing RED, our outlook is bleak. So, as we are already maxed out on credit and debt, piling up a few more years of TRILLIONS of dollars… is not a good recipe.
Time to prune the tree.
UPDATE:
Quote:
President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.
“I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,†Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.
CF,
Do you really think that people are falling for that bull now? From what I see, and I see a large number of retirees, they don’t believe anything he says.
“…the steps we took in the Recovery Act saved millions of people their jobs or created a whole bunch of jobs.” That’s what I like about this guy – he deals in specifics.
How in the world you can spin job loss into success is beyond me. Hey obama – 2 weeks after you were elected I lost my surveyor job. You didn’t “save” that for me, so do you think you could “create” it again? Does it not being a public sector job disqualify me from being “saved”?
You guys are missing the big picture here.
Remember, you have to raise taxes in order to cut spending. You have to spend more to save more. You have to pay more in unemployment and welfare to spur economic activity and jobs. You have to lose to win. You have to lie to tell people the truth.
What? That’s so easy to understand.
It’s no wonder these ruling-class elites know how us slubs feel.
Wait a minute Otis, I thought surveying would be a “shovel ready job”.