The latest CBO report says the stimulus saved or created 1.4 to 3.3 million jobs*

[Bateluer]

So, in other words, it's a guess.

No, its the same as before, they have absolutely no idea how many jobs were created or saved by the stimulus.

This is a need to tout their own 'successes' before mid term elections.

 

[heyheybooboo]

Looking at the math I don't think it's correct, I don't think they've spent the entire $787 billion, have they?

For the most part I think 'Jobs Math' is silly (especially when locals are pumping economic development - that's always good for a few yuks).

But IIRC $300 billion or so of the recovery act was related to tax cuts, so there has to be a computation as to how that 'saved or created' employment.

It's like that with the entire act --- I can't recall with certainty but my recollection is a limited portion went directly to 'infrastructure' projects.

Overall, I think what this reveals is how far the US has really gone into the toilet with public infrastructure. We don't do the planning and preliminary engineering necessary to make a serious investment in "public works".

That said, I'll give credit to North Carolina on high speed rail (boy, that goes over really big around here - LOL). They've been working for 20 years to double-track a high-speed corridor, and were able to take advantage of the funding available in the recovery act.

It's a small step, but inter-connecting our major urban centers (with a future connection to a high-speed system along the Bos-Wash corridor) will move our people and freight as fast, if not faster, than anywhere else in the country.




--

 

[PingSpike]

Probably should have just sent everyone a $2000 check.

 

[woolfe9999]

Joe Biden's take:

http://www.whitehouse.gov/the-press...w-cbo-report-employment-and-economic-impact-r

Of course we need to get the the asterick....

The [employment] numbers are based on "evidence from similar policies enacted in the past and on the results of various economic models." pg.4 of the CBO report.

http://www.cbo.gov/ftpdocs/117xx/doc11706/08-24-ARRA.pdf


I want to know why the White House won't release the real numbers? I thought we were promised transparency. This seems to reek of smoke and mirrors to me which definitely affects transparency.

I'm sorry, but you are misrepresenting the methodology of the CBO. The employment data is first based on the reports of recipients of ARRA funds. That is where the number for direct jobs saved or created comes from. However, as the report states, that is not adequate to estimate the total, overall numbers because there are indirect effects, i.e. if you directly save or create a job, the person with that job has a paycheck to spend, which in turn supports additional jobs. The indirect impacts are literally impossible to measure except by economic modelling. They cannot be tracked with direct, empirical data and they must be modelled. That is what the report actually says. You in turn are pretending that the entire job number is some kind of conjecture and that "real numbers" are being withheld. Bullshit.

- wolf

 

[dfuze]

Probably should have just sent everyone a $2000 check.

That may not have been a bad idea. Spend or pay down their bills, I don't think many people would have hoarded it. Too bad you can't rewind and try something like that.

 

[highland145]

Is there a legal issue with taking people on the unemployment rolls, that qualify for certain jobs that local, county and state governments need done, and having them work for their check?

 

[JeepinEd]

I'm sorry, but you are misrepresenting the methodology of the CBO. The employment data is first based on the reports of recipients of ARRA funds. That is where the number for direct jobs saved or created comes from. However, as the report states, that is not adequate to estimate the total, overall numbers because there are indirect effects, i.e. if you directly save or create a job, the person with that job has a paycheck to spend, which in turn supports additional jobs. The indirect impacts are literally impossible to measure except by economic modelling. They cannot be tracked with direct, empirical data and they must be modelled. That is what the report actually says. You in turn are pretending that the entire job number is some kind of conjecture and that "real numbers" are being withheld. Bullshit.

- wolf

Sounds like trickle down economics...

 

[EagleKeeper]

Sounds like trickle down economics...

Which the Dems have been saying does not work.

 

[EagleKeeper]

Is there a legal issue with taking people on the unemployment rolls, that qualify for certain jobs that local, county and state governments need done, and having them work for their check?

That is taking away full time government jobs.^_^

Besides if they were working; how could they then look for work?

 

[highland145]

That is taking away full time government jobs.^_^

Besides if they were working; how could they then look for work?

Not when the governments are laying off because of $$ issues.

 

[xj0hnx]

ya... and my unicorn is sick today, just wont fly, it galloped all the way to work.

Unicorns don't have wings silly.

 

[Throckmorton]

The amazing thing to me is that there are people who believe you can spend money without creating jobs. Where do you believe the money goes? Into black holes?

Oh, but if you give rich people tax cuts the money creates jobs, even if they don't do anything with it?


We got $977k stimulus money and used it to buy 3 new buses.

Where do you right wingers think buses come from?

You think they fall from the sky like manna?

You don't believe people actually work to build buses?

 

[nick1985]

The amazing thing to me is that there are people who believe you can spend money without creating jobs. Where do you believe the money goes? Into black holes?

It goes to giving monkey's cocaine.

http://www.redstate.com/brian_d/2010/08/03/obama-stimulus-money-to-study-monkey-cocaine-use/


Thinking that the government will spend hard-earned tax dollars efficeintly is naieve at best.

 

[Throckmorton]

It goes to giving monkey's cocaine.

http://www.redstate.com/brian_d/2010/08/03/obama-stimulus-money-to-study-monkey-cocaine-use/


Thinking that the government will spend hard-earned tax dollars efficeintly is naieve at best.

You sound like Sarah Palin and Bobby Jindal. "hurr durrr studying froot flyzzzzz volcano monitoringzz"

What exactly is wrong with studying the effects of narcotics? You don't think a scientist's job counts as a job? You'll have to explain that one.

 

[rudder]

The amazing thing to me is that there are people who believe you can spend money without creating jobs. Where do you believe the money goes? Into black holes?

Oh, but if you give rich people tax cuts the money creates jobs, even if they don't do anything with it?


We got $977k stimulus money and used it to buy 3 new buses.

Where do you right wingers think buses come from?

You think they fall from the sky like manna?

You don't believe people actually work to build buses?

Where do left wingers think that $977K came from? Did it fall from the sky like manna? Will this $977K not be taken out of a future economy?

http://www.cato.org/pub_display.php?pub_id=12088

 

[Doc Savage Fan]

Sounds like trickle down economics...

Shhhhh...it's funny watching them talk out of both sides of their mouth.

 

[EagleKeeper]

The amazing thing to me is that there are people who believe you can spend money without creating jobs. Where do you believe the money goes? Into black holes?

Oh, but if you give rich people tax cuts the money creates jobs, even if they don't do anything with it?


We got $977k stimulus money and used it to buy 3 new buses.

Where do you right wingers think buses come from?

You think they fall from the sky like manna?

You don't believe people actually work to build buses?

The stimulus was sold the the people as pumping money into projects to save jobs by paying for them and/or projects that were directly employing people.

While one can say that purchasing 3 buses created a demand for workers to build the buses, that is not the way it was sold.

 

[xj0hnx]

Oh, but if you give rich people tax cuts the money creates jobs, even if they don't do anything with it?

Have you ever owned a business? Simply spewing out "Rich people" doesn't mean anything. The less money taken from business owners, the more money they have to invest in overhead, inventory, employees, improvements, and on, and on. Does the left just think that all the "rich people" just sit around having a good chuckle from the bow of the yachts?

 

[xj0hnx]

What exactly is wrong with studying the effects of narcotics? You don't think a scientist's job counts as a job? You'll have to explain that one.

When the economy is in the toilet, and the government has to buy mortgages, propping up major institutions and unemployment is ridiculous? Oh nothing, nothing at all

 

[IndyColtsFan]

shhhhh...it's funny watching them talk out of both sides of their mouth.

qft.

 

[her209]

Have you ever owned a business? Simply spewing out "Rich people" doesn't mean anything. The less money taken from business owners, the more money they have to invest in overhead, inventory, employees, improvements, and on, and on. Does the left just think that all the "rich people" just sit around having a good chuckle from the bow of the yachts?

Business expenses are taken pre-tax.

 

[Moonbeam]

Unicorns don't have wings silly.

It's hard to notice that when you think the horn is the saddle.

 

[xj0hnx]

It's hard to notice that when you think the horn is the saddle.

Speaking from experience?

 

[Moonbeam]

Speaking from experience?

No, speaking as Bellerophon.

 

[Throckmorton]

Where do left wingers think that $977K came from? Did it fall from the sky like manna? Will this $977K not be taken out of a future economy?

http://www.cato.org/pub_display.php?pub_id=12088

Yes, the economy of the future at which time we will have recovered and will be better off than if we didn't stimulate and ended up with a DEPRESSION