Apparently we already saved or created 150,000 new jobs.

[bbdub333]

http://blogs.abcnews.com/polit...5/the-stimulus-sa.html

The Stimulus Saved or Created 150,000 Jobs? Where?

May 02, 2009 10:57 AM

"We began by passing a Recovery Act that has already saved or created over 150,000 jobs and provided a tax cut to 95% of all working families," the president said Wednesday night.

We wondered where the president got that from, given that the Bureau of Labor Statistics estimates that more than 1.3 million jobs were lost in February and March, with dismal April numbers to come.

We were told by a White House official that the Council of Economic Advisers estimated the effect of the stimulus bill on employment in two ways:

One was to prorate the original quarterly estimates by the CEA of the effect of the stimulus bill at the time of passage 'in a conservative way."

The second way was to use the data available on actual spending to replace the assumed spend-out rate. CEA then applied the same estimates of the likely impact of spending on output and employment used in the original calculations.

Both methods yielded similar results: 150,000 jobs.

This was not good enough for our friends at Factcheck.org, who say "the president?s claim is really an estimate of what his economic advisers think the stimulus bill is doing, and not based on any evidence of its actual effects."

- jpt

This seems to be the equivalent of saying that our efforts in Iraq have already prevented the deaths of thousands of Americans. No facts on which to base this claim... so how can he get away with saying stuff like this? Where is the outcry? Is he going to claim that we've saved 300,000 jobs next month?

 

[Tarrant64]

Originally posted by: bbdub333
http://blogs.abcnews.com/polit...5/the-stimulus-sa.html

- jpt

This seems to be the equivalent of saying that our efforts in Iraq have already prevented the deaths of thousands of Americans. No facts on which to base this claim... so how can he get away with saying stuff like this? Where is the outcry? Is he going to claim that we've saved 300,000 jobs next month?

You just said it right there, it's nothing new. He's not "getting away" with anything. This stuff has been going on a long, long time. Obama stepping up to the plate with the same tactics shouldn't raise any eyebrows.

 

[fskimospy]

Well by that logic then we can never make any estimations of the economic impact of our policies ever. There's no factual control group in an alternate dimension where the stimulus didn't occur for us to compare it to, so we'll never have any hard data in that respect. (until we develop the ability to travel into alternate dimensions at least). It's all based upon economic modeling data.

I am distrustful of the source as the White House obviously has an interest in showing their policies work, but I certainly have no problem with the method. If a nonpartisan source came up with some number of 'jobs saved' by using the same method I would freely accept that number despite it also just being an 'estimate'.

 

[her209]

I think Obama is right when he says that the the stimulus money is going toward saving or creating new jobs [in the public sector] that would have otherwise lost due to budget cutbacks. Of course, this ignores the net loss of jobs which I think the article author is getting at.

 

[Rhonda the Sly]

[/quote]We were told by a White House official that the Council of Economic Advisers estimated the effect of the stimulus bill on employment in two ways:[/quote]

This was not good enough for our friends at Factcheck.org, who say "the president's claim is really an estimate...

An estimate is just that, an estimate. Maybe it would have been prudent for President Obama to specifically state it was an estimate but I don't think there is anything worth an outcry here.

And +1 to what her209 said. While 1.3M jobs were shed in those two months, Obama's numbers are the number of jobs still with us that we otherwise wouldn't have had. Looks like there is nothing to see here...

 

[XZeroII]

Obama now has 150,000 new interns.

 

[OrByte]

The Recovery Act funds are being reported with more scrutiny than any other federal program I have ever seen.

The White House has its own reasons for its statements made to the media. But if you went to recovery.gov you would begin to see that States are in fact reporting how this money is being spent...a large portion of that is on jobs.

edit: I forgot to add that if one were to look at whats being reported on the recovery funds...you would probably find those jobs that the White House is talking about....

just a thought.

 

[Engineer]

My wife's job was extended for one year this year (school job). This is the first year in 10 years that the school has had money to extend money for such jobs. Was told that the stimulus money was the reason. So now, all you have to do is account for the other 149,999 jobs!

 

[mugs]

Originally posted by: bbdub333
http://blogs.abcnews.com/polit...5/the-stimulus-sa.html

The Stimulus Saved or Created 150,000 Jobs? Where?

May 02, 2009 10:57 AM

"We began by passing a Recovery Act that has already saved or created over 150,000 jobs and provided a tax cut to 95% of all working families," the president said Wednesday night.

We wondered where the president got that from, given that the Bureau of Labor Statistics estimates that more than 1.3 million jobs were lost in February and March, with dismal April numbers to come.

We were told by a White House official that the Council of Economic Advisers estimated the effect of the stimulus bill on employment in two ways:

One was to prorate the original quarterly estimates by the CEA of the effect of the stimulus bill at the time of passage 'in a conservative way."

The second way was to use the data available on actual spending to replace the assumed spend-out rate. CEA then applied the same estimates of the likely impact of spending on output and employment used in the original calculations.

Both methods yielded similar results: 150,000 jobs.

This was not good enough for our friends at Factcheck.org, who say "the president?s claim is really an estimate of what his economic advisers think the stimulus bill is doing, and not based on any evidence of its actual effects."

- jpt

This seems to be the equivalent of saying that our efforts in Iraq have already prevented the deaths of thousands of Americans. No facts on which to base this claim... so how can he get away with saying stuff like this? Where is the outcry? Is he going to claim that we've saved 300,000 jobs next month?

It's not at all like claiming that our efforts in Iraq have already prevented the deaths of thousands of Americans. The stimulus money (at least part of it :roll: ) is spent on things that create work for people, and it's possible to estimate how many full time equivalents are required to do that work.

 

[Uhtrinity]

Due to revenue shortfalls our states teacher salaries were going to be cut by 5%. Due to stimulus funds they were able to adjust that number to 3%. I'm sure a % of that will translate into saved jobs.

 

[waggy]

yeah? prove that he has not saved/created them! lol

 

[Budmantom]

So we have 2.5 million more people unemployed after Obama took office and this is a victory on the unemployment front...?

This is the usual democratic logic.


I have a feeling Bush must have created billions of jobs under this mathematic model.

 

[EagleKeeper]

Originally posted by: Engineer
My wife's job was extended for one year this year (school job). This is the first year in 10 years that the school has had money to extend money for such jobs. Was told that the stimulus money was the reason. So now, all you have to do is account for the other 149,999 jobs!

Apparently some of that stimulus money w/ respect to jobs is being political controlled at the local level.

Osceola school district is cutting slots in some schools - there were already previously shorthanded. My son the past 2 yearas was doing double duty - now he has to look

 

[Engineer]

Originally posted by: Common Courtesy

Originally posted by: Engineer
My wife's job was extended for one year this year (school job). This is the first year in 10 years that the school has had money to extend money for such jobs. Was told that the stimulus money was the reason. So now, all you have to do is account for the other 149,999 jobs!

Apparently some of that stimulus money w/ respect to jobs is being political controlled at the local level.

Osceola school district is cutting slots in some schools - there were already previously shorthanded. My son the past 2 yearas was doing double duty - now he has to look

From what I've seen, schools are just as political as any other form of government. I'm surprised at "it's who you know" that is there just as much as the higher up forms of government.

 

[Double Trouble]

The sad thing is that 'saving' public sector jobs is a terrible thing. The public sector always grows, it never seems to shrink. The only time there's even a slight chance of curbing the growth rate of public sector employment is during economic hard times. Now we've conveniently removed that "problem" by running the printing presses so enough money could be created to continue the government job bloating. That's basically moving money/jobs/power away from the private sector to the government, and there's not a chance in hell it's ever going back to the private sector.

 

[Genx87]

Expect more of these types of shenanigans in the future. Especially when people sour of spending trillions and seeing little result. Trying to prove a job was saved is as impossible as proving it wasnt. A bunch of political bullshit.

 

[Stunt]

AIG - 116,000
Bank of America - 285,000
Citigroup - 323,000
Freddie Mac - 5,000
JP Morgan - 225,000
Wells Fargo - 281,000
Fannie Mae - 5,800
Goldman Sachs - 32,000
Morgan Stanley - 47,000
PNC Financial - 53,000
US Bancorp - 56,000

GM - 243,000
Chrysler - 58,000

By my count...Obama has saved 1.7million jobs...150,000?!...way off.
Without the economic stimulus, all of those companies would be gone and all the jobs lost forever...*roll*

 

[Slew Foot]

Originally posted by: Stunt
AIG - 116,000
Bank of America - 285,000
Citigroup - 323,000
Freddie Mac - 5,000
JP Morgan - 225,000
Wells Fargo - 281,000
Fannie Mae - 5,800
Goldman Sachs - 32,000
Morgan Stanley - 47,000
PNC Financial - 53,000
US Bancorp - 56,000

GM - 243,000
Chrysler - 58,000

By my count...Obama has saved 1.7million jobs...150,000?!...way off.
Without the economic stimulus, all of those companies would be gone and all the jobs lost forever...*roll*

No they wouldnt, smaller banks and car companies would have bought the remains at bankruptcy and hired the good employees back. A natural selection if you will.

 

[miketheidiot]

Originally posted by: Slew Foot

Originally posted by: Stunt
AIG - 116,000
Bank of America - 285,000
Citigroup - 323,000
Freddie Mac - 5,000
JP Morgan - 225,000
Wells Fargo - 281,000
Fannie Mae - 5,800
Goldman Sachs - 32,000
Morgan Stanley - 47,000
PNC Financial - 53,000
US Bancorp - 56,000

GM - 243,000
Chrysler - 58,000

By my count...Obama has saved 1.7million jobs...150,000?!...way off.
Without the economic stimulus, all of those companies would be gone and all the jobs lost forever...*roll*

No they wouldnt, smaller banks and car companies would have bought the remains at bankruptcy and hired the good employees back. A natural selection if you will.

no.

the systemic damage would have taken pretty much everyone out, and it would have taken years to come close to a settled equilibrium again (at least as much as that is possible).

 

[Jiggz]

Originally posted by: Stunt
AIG - 116,000
Bank of America - 285,000
Citigroup - 323,000
Freddie Mac - 5,000
JP Morgan - 225,000
Wells Fargo - 281,000
Fannie Mae - 5,800
Goldman Sachs - 32,000
Morgan Stanley - 47,000
PNC Financial - 53,000
US Bancorp - 56,000

GM - 243,000
Chrysler - 58,000

By my count...Obama has saved 1.7million jobs...150,000?!...way off.
Without the economic stimulus, all of those companies would be gone and all the jobs lost forever...*roll*

All of these companies got money from TARP and not from the American Recovery and Re-investment Act! However you are right, there are still more than 150K Americans currently employed which means "Ohbowman" actually saved more than 150K jobs! Now that's change you can believe in.

 

[NoStateofMind]

Topic Title: Apparently we already saved or created 150,000 new jobs.
Topic Summary: Where?

Fusion centers.

 

[Jeffg010]

Originally posted by: Stunt
AIG - 116,000
Bank of America - 285,000
Citigroup - 323,000
Freddie Mac - 5,000
JP Morgan - 225,000
Wells Fargo - 281,000
Fannie Mae - 5,800
Goldman Sachs - 32,000
Morgan Stanley - 47,000
PNC Financial - 53,000
US Bancorp - 56,000

GM - 243,000
Chrysler - 58,000

By my count...Obama has saved 1.7million jobs...150,000?!...way off.
Without the economic stimulus, all of those companies would be gone and all the jobs lost forever...*roll*

PNC? you don't know what the fuck your talking about.


Jeff

 

[Corn]

Another lie to add to my macro. If Obama keeps this up Harvey' macro is gonna look like a pinner.

 

[Stunt]

Originally posted by: Jeffg010

Originally posted by: Stunt
AIG - 116,000
Bank of America - 285,000
Citigroup - 323,000
Freddie Mac - 5,000
JP Morgan - 225,000
Wells Fargo - 281,000
Fannie Mae - 5,800
Goldman Sachs - 32,000
Morgan Stanley - 47,000
PNC Financial - 53,000
US Bancorp - 56,000

GM - 243,000
Chrysler - 58,000

By my count...Obama has saved 1.7million jobs...150,000?!...way off.
Without the economic stimulus, all of those companies would be gone and all the jobs lost forever...*roll*

PNC? you don't know what the fuck your talking about.


Jeff

Huh?

PS. Obviously you guys missed the sarcasm... (see *roll*)