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Old 07-01-2011, 04:40 PM  
HonestChieffan HonestChieffan is offline
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(The Hill) — A White House report released Friday said the 2009 stimulus bill raised GDP by as much as 3.2 percent in the first quarter of 2011.

The report from the White House Council of Economic Advisers said the stimulus added 2.3 to 3.2 percent to gross domestic product in the first quarter relative to what it otherwise would have been.

The stimulus package also increased employment relative to what it otherwise would have been by between 2.4 and 3.6 million jobs, the report said.

Obama and the Republicans have butted heads over the effectiveness of the stimulus, which was estimated to cost $787 billion when enacted.

Republicans, pointing to the latest report that unemployment rose again to 9.1 percent in May, claim it was a waste of money that did nothing to slow the recession. Obama maintains that the economy would be in worse shape without the stimulus.

The report credits the stimulus with positively changing “the trajectory of the economy” starting in the third quarter of 2009 and continuing through the first quarter of 2011.
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Old 07-01-2011, 04:42 PM   #2
FD FD is offline
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These estimates are right in line with those of non-partisan and private sector groups. Whats the problem?
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Old 07-01-2011, 04:45 PM   #3
Guru Guru is offline
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Old 07-01-2011, 04:46 PM   #4
BucEyedPea BucEyedPea is offline
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Quote:
Originally Posted by Forward Dante View Post
These estimates are right in line with those of non-partisan and private sector groups. Whats the problem?
The problem is GDP includes govt spending and how much spending has there been? Quit being a Kool-Aid drinker....I mean server.
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Old 07-01-2011, 04:50 PM   #5
HonestChieffan HonestChieffan is offline
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Originally Posted by BucEyedPea View Post
The problem is GDP includes govt spending and how much spending has there been? Quit being a Kool-Aid drinker....I mean server.



They dont understand
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Old 07-01-2011, 04:57 PM   #6
Okie_Apparition Okie_Apparition is offline
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It won't drop off much. We have the disaster relief stimulus to pick up the slack. Tornados, floods, fires & hurricane season is about to begin!
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Old 07-01-2011, 05:46 PM   #7
BucEyedPea BucEyedPea is offline
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It won't drop off much. We have the disaster relief stimulus to pick up the slack. Tornados, floods, fires & hurricane season is about to begin!
Ah, the broken window fallacy.
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