GOP starting to cave on The Pledge?

[cybrsage]

Did unemployment hit what they said it would if they spent around a trillion dollars on it?

 

[jman19]

Did unemployment hit what they said it would if they spent around a trillion dollars on it?

No. What was the alternative, and what would have been the outcome?

I didn't say the Dems followed the optimal path, but I haven't heard any good arguments as to what the alternative was. You don't get that, do you?

 

[CallMeJoe]

You did hear it was going to keep unemployment under 8%. How did that work out?

EDIT: In case you "forget" here is the chart:

Interesting chart.

Please note that the actual unemployment rate far exceeded the projected unemployment rate even before the stimulus package was passed, making it somewhat difficult to use the chart as evidence of the programs efficacy.

You might also note that Politifact rates Majority Leader Cantor's statements concerning the "Promise" (from which you lifted the chart) Mostly False.

 

[Anarchist420]

Interesting chart.

Please note that the actual unemployment rate far exceeded the projected unemployment rate even before the stimulus package was passed, making it somewhat difficult to use the chart as evidence of the programs efficacy.

You might also note that Politifact rates Majority Leader Cantor's statements concerning the "Promise" (from which you lifted the chart) Mostly False.

You failed to tell him that his beloved eric cantor voted for part of the stimulus. We needed a depressant with zero government interference, not a stimulant.

 

[cybrsage]

No. What was the alternative, and what would have been the outcome?

I didn't say the Dems followed the optimal path, but I haven't heard any good arguments as to what the alternative was. You don't get that, do you?

So their plan failed to do what they claimed it would do, and now there are rumblings of wanting to repeat the failed plan in the hopes that a failed plan will not fail the second time around. No thanks.

The alternative was to not spend the money and instead allow the economy to self correct. Occording to Obama's chart, unemployment would have been lower had they done nothing. As for the outcome of that, we have no way of knowing since it did not happen.

 

[cybrsage]

Interesting chart.

Please note that the actual unemployment rate far exceeded the projected unemployment rate even before the stimulus package was passed, making it somewhat difficult to use the chart as evidence of the programs efficacy.

You might also note that Politifact rates Majority Leader Cantor's statements concerning the "Promise" (from which you lifted the chart) Mostly False.

Take your gripes to Obama, it is his administration's chart.

 

[CallMeJoe]

Take your gripes to Obama, it is his administration's chart.

It was indeed prepared by the Obama administration. Unfortunately, they created these projections before they realized how fully the previous administration had tanked the economy and how quickly the jobs were dying.

Please do not allow these facts to derail your anti-Obama screed, however. You can be quite amusing when you're on your game, limited as it is.

 

[Jhhnn]

So their plan failed to do what they claimed it would do, and now there are rumblings of wanting to repeat the failed plan in the hopes that a failed plan will not fail the second time around. No thanks.

The alternative was to not spend the money and instead allow the economy to self correct. Occording to Obama's chart, unemployment would have been lower had they done nothing. As for the outcome of that, we have no way of knowing since it did not happen.

Cantor lies, & you swear it's true- nohting unusual about that. From Callme joe's link-

But contrary to Cantor’s claim, the Romer-Bernstein report did not make promises about the unemployment rate. It made qualified projections.

Page 2 of the report states, "It should be understood that all of the estimates presented in this memo are subject to significant margins of error. There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress. But, there is the more fundamental uncertainty that comes with any estimate of the effects of a program.

"Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity."

In other words, Repub faith in the sacred free market, exercised as policy by the Bush Admin, left the economy in far worse shape than anybody understood at the time.

Nobody thought it would be like 1929, but nobody expected the Spanish Inquisition, either.

Having screwed the pooch, it wasn't like Repubs at the time claimed it would be worse than the Obama Admin projections. That would have been like claiming the turd they left in the punchbowl. Instead, they waited, and now claim that a stimulus inadequate for the mess they created was wrong, when it just wasn't big enough.

I'm not sure that any stimulus would have been "big enough", given the over extended nature of finance & the flight to liquidity of investors. But what was provided helped, & there's no reason to say otherwise.