The Conservative Cave
Current Events => The DUmpster => Topic started by: Freeper on November 25, 2010, 12:17:33 AM
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bigtree Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Wed Nov-24-10 09:55 PM
Original message
Obama stimulus put between 1.4 million and 3.6 million to work in the third quarter of this year
November 24, 2010
(Reuters) - The massive U.S. stimulus package, widely panned by voters, injected life into the otherwise-sluggish economy between July and September, the nonpartisan Congressional Budget Office said on Wednesday.
The American Recovery and Reinvestment Act put between 1.4 million and 3.6 million to work in the third quarter of this year, a time when more than 15 million Americans were unemployed, CBO said.
It also boosted national output by between 1.4 percent and 4.1 percent during that time, the CBO said.
The CBO's estimates have consistently shown that the $814 billion package of tax cuts, state aid, construction spending and enhanced safety-net provisions has blunted the impact of the worst U.S. recession since the 1930s.
(interesting note) Direct spending on highway construction, water-system upgrades and energy efficiency were among the most effective, the CBO said, while tax breaks for businesses and higher-income people cost more in lost revenues than they made up for in increased economic activity.
read: http://www.nytimes.com/reuters/2010/11/24/business/busi...
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9627060
More of this jobs saved or created bullshit.
bigtree Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Wed Nov-24-10 11:07 PM
Response to Original message
1. The unemployment rate, currently 9.6 percent, would have been between 10.4 percent and 11.6 percent
. . . without the Recovery Act, the CBO said.
The stimulus created the equivalent of 2 million to 5.8 million jobs during the third quarter as part-time workers shifted to full-time work, or employers offered more overtime work.
http://www.reuters.com/article/idUSTRE6AH6CV20101124
Considering the UE rate wasn't supposed to go over 8% because of TARP I'm not buying this.
B Calm Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu Nov-25-10 01:11 AM
Response to Original message
3. President Obama saved my job with the Cash for Clunkers program.
I was laid off for six weeks and after the Cash for Clunkers program went into effect, I been called back to work and working overtime ever since. Republicans have never understood that demand or customers is what create jobs. I have never gotten a job from a rich man, it's always been the customer who has given me the job.
Actually the evil rich that you despise are the ones who invested capital in the company that hired you. Without the initial investments and someone opening that business there are no customers. Customers is what keeps the business running. Republicans know that customers are what keeps the doors open. Democrats think govt creates jobs. So tell me DUmmy just who has a better understanding of economics.
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My job wasn't saved or created.... thanks anyway.... I guess....
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Conveniently left out of the DUmmy op are these two paragraphs from the article.
The Recovery Act has already had its greatest impact on the economy and its effects will continue to wane into 2011, CBO said.
Federal Reserve Chairman Ben Bernanke has called on Congress to take additional measures to stimulate the economy, but analysts say his plea will probably go unanswered as Republicans eye sharp spending cuts for next year.
http://www.nytimes.com/reuters/2010/11/24/business/business-us-usa-economy-stimulus.html
In other words...Throw massive amounts of money at pork projects and private/public unions and you will push some numbers until the money runs out.
It does nothing to actually make for sustaining economic growth.
Worse yet as it was borrowed money that now must be paid back with interest the long term effects are even more detrimental.
Please correct me if I am wrong but the CBO merely scores things as Congress tells them what is,hence in the run up to Obamacare they declared it to cut the deficit because Congress declared they were going to cut 500 billion or so out of Medicare by cutting waste and fraud.
Of course the only fraud there was the dem Congress saying they would do that but since it was in the package the CBO had to score it as being factual.
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Republicans have never understood that demand or customers is what create jobs.
And where do they get the money to buy things?
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And where do they get the money to buy things?
Out of Zero's "stash", remember?
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9627060
More of this jobs saved or created bullshit.
Considering the UE rate wasn't supposed to go over 8% because of TARP I'm not buying this.
Actually the evil rich that you despise are the ones who invested capital in the company that hired you. Without the initial investments and someone opening that business there are no customers. Customers is what keeps the business running. Republicans know that customers are what keeps the doors open. Democrats think govt creates jobs. So tell me DUmmy just who has a better understanding of economics.
Those two numbers are statistically very far apart. Why not just claim they saved 100 million jobs?
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The UE rate has been stalled at @ 9.6 % for most of this year. Where were those jobs created and why didn't the UE rate drop?
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Obama stimulus put between 1.4 million and 3.6 million to work in the third quarter of this year.
Name one job "saved or created". You have between 1.4 and 3.6 million to choose from as an example.
The fact there is a difference of 2.2 million between the two figures tells me this is total and complete bullshit.
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The irony is that The Obama administration could have easily improved economic numbers, while improving his standing among most Americans by booting the illegals.
And according to primitives everywhere, his skin color automatically negates such a maneuver as racist.
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[youtube=425,350]http://www.youtube.com/watch?v=i0wnF9f_8gM&feature=player_embedded#![/youtube]
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After the horseshit they pulled with costing out Hell Care, CBO has all the credibility of Baghdad Bob. "Nonpartisan" my ass.
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It's obambi's government offices shoveling us these potatonimics numbers. Get me someone honest and I'd be more inclined to believe any of it.
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I haven't worked since about five weeks after the jug eared Kenyan took office. My unemployment benefits exhausted last summer. I send out more than a dozen resumes a week. I get nothing back beyond autoreply emails, so I'm not buying that bullshit.
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bigtree Donating Member (1000+ posts) Wed Nov-24-10 11:07 PM
Response to Original message
1. The unemployment rate, currently 9.6 percent, would have been between 10.4 percent and 11.6 percent. . . without the Recovery Act, the CBO said.
The stimulus created the equivalent of 2 million to 5.8 million jobs during the third quarter as part-time workers shifted to full-time work, or employers offered more overtime work.
Um,....sorry Dumb-Dumb but,....the unemployment rate is more than 9.6 percent. Do you know how many people are underemployed or just gave up for work? Those numbers aren't correct.
As for the workers working overtime and part time workers working full time, ever notice the season we are in? Businesses are just letting their current workers put in a little extra time than hire new employees for the holidays. Not all workers are working more hours though.
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Um,....sorry Dumb-Dumb but,....the unemployment rate is more than 9.6 percent. Do you know how many people are underemployed or just gave up for work? Those numbers aren't correct.
As for the workers working overtime and part time workers working full time, ever notice the season we are in? Businesses are just letting their current workers put in a little extra time than hire new employees for the holidays. Not all workers are working more hours though.
Exactly.
And hiring will seem higher this season because of all the retail stores bringing on part-time help for Christmas. That's the reason why I was lucky enough to have Macy's to fall back on. Laid off from the full-time job, but I am underemployed with the part-time job at Macy's now. It's not really a big deal though. So can you really count it as "underemployed"?
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Name one job "saved or created". You have between 1.4 and 3.6 million to choose from as an example.
The fact there is a difference of 2.2 million between the two figures tells me this is total and complete bullshit.
Actually, it's even worse than that. The UEI is based on those unemployed and STILL LOOKING for work. If one runs out of benefits or becomes a "discouraged worker" and simply gives up looking for work, they're not counted. This is one of the reasons you're going to see a HUGE jump once the 99 weeks runs out in early 2011 (along with the tax increases, second wave of mortgage foreclosures, etc., etc...)
You want a closer indication of unemployment? Look at the U-6 figure. Right now it's about 17-18 percent.