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View Full Version : Obama Good News: CBO Says Cost of Obama’s Stimulus Bill Jumped Another $43 Billion…


HonestChieffan
05-25-2011, 08:06 PM
The hit just keep on coming. The failure gets more expensive by the minute.

Tee time at 10:30

http://dailycaller.com/2011/05/25/cbo-stimulus-law-will-cost-43-billion-more-than-estimated/

FD
05-25-2011, 08:15 PM
The hit just keep on coming. The failure gets more expensive by the minute.

Tee time at 10:30

http://dailycaller.com/2011/05/25/cbo-stimulus-law-will-cost-43-billion-more-than-estimated/

You call it a failure but the very report you are linking says it created 1.2 to 3.3 million jobs.

Bewbies
05-25-2011, 08:29 PM
You call it a failure but the very report you are linking says it created 1.2 to 3.3 million jobs.

That's a really good rate of return!!

SNR
05-25-2011, 08:36 PM
http://jamesrising.com/wp-content/uploads/2011/04/Professor-Hubert-J-Farnsworth.jpg

HonestChieffan
05-25-2011, 09:04 PM
You call it a failure but the very report you are linking says it created 1.2 to 3.3 million jobs.

Pretty wide range in the old guess number. If you accept such things, I have a car Id like to sell you.

mlyonsd
05-25-2011, 09:18 PM
You call it a failure but the very report you are linking says it created 1.2 to 3.3 million jobs.Created, saved, or just extended? How many of those jobs actually generate federal tax revenue?

Even if your statement is correct, if the money we spend to create those jobs is borrowed you just keep digging the hole deeper and we still have 8% unemployment.

The Obama stimulus plan failed. The dem's FDR type recovery plan...failed. That shipped has sailed.

It is time for all of us to dig in and realize what we've lived most of our lifetimes isn't reality any longer.

FD
05-25-2011, 11:26 PM
Created, saved, or just extended? How many of those jobs actually generate federal tax revenue?

Even if your statement is correct, if the money we spend to create those jobs is borrowed you just keep digging the hole deeper and we still have 8% unemployment.

The Obama stimulus plan failed. The dem's FDR type recovery plan...failed. That shipped has sailed.

It is time for all of us to dig in and realize what we've lived most of our lifetimes isn't reality any longer.


From the report HCF was citing:
Stimulus Funds:
-Raised real (inflation-adjusted) gross domestic product by between 1.1 percent and 3.1 percent,
-Lowered the unemployment rate by between 0.6 percentage points and 1.8 percentage points,
-Increased the number of people employed by between 1.2 million and 3.3 million, and
-Increased the number of full-time-equivalent (FTE) jobs by 1.6 million to 4.6 million compared with what would have occurred otherwise. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers).



I wouldn't call the stimulus a failure at all. It probably could have been done better, but considering how quickly they pushed it through its had pretty strong effects.

I also don't understand your point about the money being borrowed. The situation I saw was that the US could borrow at record low interest rates, had millions of productive workers sitting idle after the financial crisis, and enormous unused economic capacity. Textbook economics, as well as simple common sense, tells us that in a situation like that the correct response is to take advantage of the cheap borrowing costs and invest in infrastructure development. This not only puts millions of unemployed people to work, it will boost future economic growth.

Furthermore, had there been no fiscal stimulus, the recession would have been even worse, with more unemployment, less output, and less tax revenue, leaving us not much better off with respect to the deficit.

HonestChieffan
05-26-2011, 09:40 AM
From the report HCF was citing:
Stimulus Funds:
-Raised real (inflation-adjusted) gross domestic product by between 1.1 percent and 3.1 percent,
-Lowered the unemployment rate by between 0.6 percentage points and 1.8 percentage points,
-Increased the number of people employed by between 1.2 million and 3.3 million, and
-Increased the number of full-time-equivalent (FTE) jobs by 1.6 million to 4.6 million compared with what would have occurred otherwise. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers).


All Government spending, waste or not, productive or pissed away adds to GDP....False measure of any success.

If real decision makers accepted projections and market information that has a 3x range, business would fail everywhere. If you accept such ranges, you are being led by the greatest liars of all time. 0.6-1.8? Are you kidding? 1.2-3.3? 1.6-4.6?

If you were to drive to Dallas and accepted that much error you could wind up in Tyler, albuquerque or Elpaso....