The Stimulus That Didn’t Stimulate
by Big Dog on Jul 5, 2011 at 08:33 Political
A new report from Barack Obama’s own Council of Economic Advisors shows that the stimulus failed to stimulate, that each job created or “saved” cost taxpayers $278,000, and that we would have been better off without the stimulus.
What a surprise? The Stimulus was a failure, just as I had said it would be. To spend 278 thousand dollars per job created or allegedly saved is absolutely criminal. To top it off, the trend of adding jobs appears to be going in the wrong direction. The Stimulus failed to stimulate and now it is having a harmful effect on the economy. Interpretation of the report indicates that we would have done better without the Stimulus.
Perhaps this is because the Stimulus was not meant to actually stimulate. The report they wrote says it was and Obama and his toadies said it was but the reality of the situation is that a lot of taxpayer money, money we do not have, was appropriated for the sole purpose of paying off Democrat constituencies. The labor unions, the Obama supporters, the Democrat controlled cities that can’t make it on their own, all took our money as part of a huge payoff and redistribution scheme.
All sides agree on these incriminating numbers — and now they also appear to agree on this important point: The economy would now be generating job growth at a faster rate if the Democrats hadn’t passed the “stimulus.” Weekly Standard
Debbie Wasserman Schultz said the Democrats own the economy and she is absolutely correct. The Democrats took a bad situation (caused mostly by their failed policies) and made it much worse. We have hit rock bottom and are now starting to dig.
This is what happens when we elect a man with NO experience whatsoever. Never had a productive job, never had to make payroll and lived his life off the taxpayer. He got taxpayer money for his education, for his community rabble rousing and for his jobs in politics. Oh sure, he received money through graft and corruption as well as the books he wrote about his life (as if he actually had anything to write about) but he never ran anything meaningful.
He was and remains out of his league and he continues to drive us further toward government control of everything.
He is well on his way with the failed Stimulus and the 5 TRILLION dollars of debt he has accumulated.
It is more meaningful when his own people point it out.
Maybe they want to avoid the pitchforks and torches…
Cave Canem!
Never surrender, never submit.
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Tags: costs, debt, failure, lies, Obama, stimulus
Why did they not just give me $278,000 and call it a day? Because I am not in a union- I get sooooo tired of union asshats trying to imply that their gold plated retirement, health, and wage demands are not related to the troubles in the US- these are people who truly believe that they deserve to be in the lifeboat, but everyone else has to drown.
Union asshats around the world- Listen closely_ it is not about you- you ARE going to have to give up some of your bennies, either voluntarily or by royal edict (executive order)- because you are a fool if you believe you are not going to be screwed by this administration- they will take down everyone, just so they themselves are not taken down.
Look around you with your eyes open and unblinkered, and you will see the truth.
“A new report from Barack Obama’s own Council of Economic Advisors shows that the stimulus failed to stimulate, that each job created or “saved” cost taxpayers $278,000, and that we would have been better off without the stimulus.”
Lies. Somehow to The Weekly Standard thinks CEA has admitted we’d be better off without the stimulus? It says the exact opposite in the report of course:
The Weekly Standard knows you won’t check your facts though. Any reader that believes a neocon rag like theirs has to be highly skilled at suspending reality and truth in favor of fantasy and lies. They bank on you not thinking critically and simply cherry picking to support your preconceived notion of success or failure for your politics.
“To top it off, the trend of adding jobs appears to be going in the wrong direction.”
You mean that one month were we added only 83,000 private sector jobs after 3 straight months of over 200,000 and an average of 181,000 overall this year so far? We had a slow May and we’ll probably have a slow June but it’s hardly a trend as you see it. We’ve added nearly 1 million private sector jobs this year so far. You’ll have to wait a while to see if there is an actual bad trend there.
Of course they sprinkle words in there to say it was wonderful. But the facts speak for themselves. No shovel ready jobs and 278k per job created or “saved” which is bogus anyway. I saved 25 jobs today. Can you prove I didn’t?
And tgey write reports with those words to fool morons who continue to say it was a success.
Now that they shot their wad things will go down. No “free” gubmint money to artificially inflate things so they look good. Let’s see what the numbers show this week.
“No shovel ready jobs and 278k per job created or “saved” which is bogus anyway.”
Simply dividing the job estimate by the price tag ignores the fact that the stimulus spending did more than simply create jobs. It created economic growth which is a lot harder to measure than your division wants to suggest. TPM points out how your side is running with this nonsense. The right wing running with yet another pack of lies to smear the successful stimulus and it’s supporters? Shocking, I know.
“I saved 25 jobs today. Can you prove I didn’t?”
Yes, because you’re not speaking with economic authority, you’re just suggesting expert economists are liars because their results don’t match your fantasy land.
Sadly, that kind of sentiment is part of a larger anti-intellectual movement inside the American right wing you’re proudly part of. Funny how any science, economic study or fact that goes against your world view gets thrown on the trash heap so you can continue to believe your preconceived notions.
I did save 25 jobs by making a few large purchases yesterday.
You say that I dismiss stuff that I do not agree with. We all do that including you. The number of economists who disagree and think the stimulus did not work is large. You are agreeing with people who are paid to say these things
“The number of economists who disagree and think the stimulus did not work is large.”
I’m not sure which number is larger at this point. The number of imaginary economists that agree with you or the number of actual economists you simply imagine are in agreement with you. Your post is an example of the second group. CEA made no such claim as that the stimulus didn’t work but you keep on imagining otherwise.
And remember: Not only did the stimulus fail but climate change is a scam, the ozone layer wasn’t depleting, evolution is just a hunch, and the sun rotates around the Earth.
Funny how you bring these things up. O3 (ozone) is created by super heating oxygen. When the sun is the closest the “hole” is small and when it is farthest it is larger.
Global warming is a myth. The planet has heated and cooled for millions of years long before humans were here.
The sun comment about the Earth is not worth addressing as it is an obvious attempt to label those with whom you disagree as uneducated.
Evolution has yet to be proved and there are a number of stories of forged “evidence” to prove it. If evolution happens why have we not seen it and why have we not seen fossils where it happened?
Funny you insist on bringing these things up and failed to mention that in the 70s the science community was saying that we were cooling. Which scientists are the ones to believe?
Yes, you go ahead and believe the economists who get paid by the taxpayer and are employed by Obama to say what he wants them to. Why not? That is what you do with the global warming scientists (who get money to “find” global warming).
“Yes, you go ahead and believe the economists who get paid by the taxpayer and are employed by Obama to say what he wants them to.”
Obama’s economists agreeing with independent agencies and business leaders surely just means they’re all in on the scam I guess. It couldn’t possibly mean you were wrong.
“The sun comment about the Earth is not worth addressing as it is an obvious attempt to label those with whom you disagree as uneducated.”
Well, you don’t believe the scientists that tell us evolution, ozone depletion, and climate change are real. I wouldn’t be shocked to hear you claim the Earth is the center of the solar system. After all, I’m sure those heliocentrists are just paid to find the sun at the center of the solar system and all. One big global liberal conspiracy.
Since gubmint did not pay the scientists who said the earth was at the center it is unlikely they are beholden to anyone.
No, I believe sceientists who say that global warming and ozone depletion are not man made (and occur naturally). I believe that species evolve within themselves but that one species does not become another. Since no one has yet to prove that I can be pretty safe in my belief. Prove it and we can talk.
I do believe in climate change. It changes with the seasons, with sunspot activity and in cycles over time. It is all natural and has been happening since long before man was here so please, explain how man is causing these natural things to occur.
And many people look at the numbers and come to different conclusions. When one considers how they get the numbers and the guesses they take along with the things deliberately omitted it is easy to be skeptical.
A trillion dollars that was not well spent. FDR showed that it does not work.
Spending money to solve a debt problem is like drinking alcohol to cure alcoholism.
“No, I believe scientists who say that global warming and ozone depletion are not man made…”
That’s a shame since those scientists are out of the mainstream and out of touch with the scientific community. I guess it fits since your entire movement is out of touch with reality.
“I believe that species evolve within themselves but that one species does not become another.”
Sure they do. We have the fossils to prove it. To suggest otherwise is to ignore the dozens and dozens of examples of transitional states. It was appropriate to question the existence of such evidence about half a century ago when this debate got started but your side has been crushed by a mountain of evidence since then and you just didn’t notice.
“Spending money to solve a debt problem is like drinking alcohol to cure alcoholism.”
We aren’t spending money to solve a debt problem. Your side is the only one obsessed with the debt now that you’re not growing it yourselves. A better example is taking out a mortgage on your home in order to pay medical expenses. Sure, it’s more debt but it’s better than death and you’ll pay it back later when you’re able.
The scientists are only out of the mainstream because they do not agree with you. You provide that false argument every time. You claim that any opposing argument is not a mainstream one. You always discount the fact that those who support GW are paid by our tax dollars to say it exists or they would have to give up our money and find other jobs.
Funny how you claim my side increased all that debt when Obama has increased in nearly 5 TRILLION dollars, more than all 8 years of Bush. Reagan had policies that increased revenue to the treasury. The only reason debt went up is because Congress (members from BOTH parties) continued to spend more and more. They saw more money and decided to spend it rather than pay down the debt. Happens all the time with both parties.
They can hide it when times are good but now that they are bad it cannot be hidden. We are out of money and we have a crushing debt problem where it is about 70% of GDP. 90% will put is in Greek territory and we are headed there fast.
Government DOES NOT create jobs that add to our revenue. All government jobs are paid for by tax money so they end up costing more than they pay in.
The private sector AND ONLY the private sector can create jobs. Employers are not happy with the current environment and do not know what kind of tax policies and other regulations will be imposed upon them so they are unwilling to part with cash. Low taxes and less government intrusion will bring us back to sanity.
Two years into his presidency you never heard Reagan say what? It was Carter’s fault. He worked to fix it. Obama is working to destroy it so he can punish the wealthy (except his friends) and redistribute wealth to make things all level and fair. In doing so he will be unfair to those who create wealth by giving their money to those who do not.
The stimulus is a failure. We will NOT be able to pay it off. There is no when we are able because we will not be able. With a true unemployment rate closer to 20% a lot of people are not working and paying taxes. Couple that with irresponsible fiscal policy and we will not be in a position to pay it back. We will be trillions more in debt.
“The scientists are only out of the mainstream because they do not agree with you.”
Nonsense. This isn’t a political argument. This is simply science. That’s where you go wrong. Your side thinks it can discount facts and reality because they don’t fit your politics. This anti-intellectual sentiment runs deep in your movement and it does a great deal of disservice to our country and the world.
“You always discount the fact that those who support GW are paid by our tax dollars to say it exists or they would have to give up our money and find other jobs.”
Tell me why if these people in the US are simply paid to say it’s real that they just happen to agree with the rest of the world’s scientific bodies? There is after all a world wide consensus that states climate change is real and humans are a cause.
“Funny how you claim my side increased all that debt when Obama has increased in nearly 5 TRILLION dollars…”
You can’t let go of that talking point can you? Talking points themselves are not a problem unless they’re a lie like this one. Obama still plays a minor role in the increase in debt and deficits. Bush era policies coupled with the downturn account for the vast majority of the increase in debt. Senator Obama has a much greater role in the debt than President Obama.
“Government DOES NOT create jobs that add to our revenue. … The private sector AND ONLY the private sector can create jobs.”
You know by now that the stimulus was not about the government creating jobs. That is just a myth your side pushes. The stimulus was about infusing tax dollars into the economy to stimulate private sector growth, keep public sector jobs safe in the states, and also slashed some taxes for short term relief.
It’s hard to imagine why you keep arguing against the success of the stimulus when you can’t even come to terms with the actual goals of the stimulus.
“Low taxes and less government intrusion will bring us back to sanity.”
We already have low taxes. Your side has to spread the lie that the rich are creating jobs or wealth in America so that’s why we have to protect them from big bad government. Nevermind that it’s the middle class small business owners that fuel our economy and create 99% of American jobs. The wealthy fill the coffers of Congress and the White House so we can’t get politicians that will do the right thing and increase taxes on the richest Americans.
Reagan and Clinton both increased taxes and saw the economy grow. If Obama had passed the tax increases Reagan passed the tea party would have burned the White House down in protest.
“Obama is working to destroy it so he can punish the wealthy…”
And yet the economy is still growing, not shrinking. The wealthy are doing great. If that is Obama’s goal then I guess that means he’s failed miserably.
“With a true unemployment rate closer to 20%…”
U-6 is still 15.8 and will be lower after tomorrow’s release. It’s not close to 20%. U-6 is always a little more than double the value of U-3, for the record. The reality is you don’t have to talk about U-6 because we know that U-3 at 9% is very bad all on it’s own and double what it needs to be. Somewhere along the line your side started pretending my side thinks 9% unemployment is wonderful. We do think 9% is better 10% in the same vein that we’d think only 900 people dying in an Earthquake is better than 1000. We’re not suggesting 900 is all that great though on it’s own.
“U-6 is still 15.8 and will be lower after tomorrow’s release. It’s not close to 20%. U-6 is always a little more than double the value of U-3,”
First of all, 15.8 is close to 20% (it is closer to 20 than it is to 9). Second of all, the U-6 number for June is 16.2% so do you still want to stick with your assessment? 18k new jobs, wow what a stunning number. And hte previous two months revised DOWN. Now that would be a trend. Perhaps you really do know so much about this from listening to the Keynesian economists in the regime…
Conservatives who own companies and hired people created jobs. Government hiring more government suck-puppies and TSA guards did NOT contribute to GDP.
“We have the fossils to prove (one species does not become another)”
No, actually there are no fossils that come anywhere close to that. That is a liberal lie. Ask any reputable evolutionist, they have to agree. A fossil can not prove evolution,
“…spending into greater debt is) more debt but it’s better than death and you’ll pay it back later when you’re able.”
No, another lie. Liberals ALL dying would be better than them spending money they don’t have, conservative’s taxes is what they spend, and then when all the conservatives are broke, their companies bankrupt, all are as moral, economic and ideologically broke as the liberals, THEN we…pay it back???
The blue hat dude is a moron.
I can’t help but think when I see a commenter yelling about my blue hat that we’re dealing with the same sad little man that changes his name but always screams and yells the same nonsense just the same. In On It Not? Eoj Trahneir? Is that you? Or does the spirit of these hacks just live inside you as well, Ferd Berfel?
My all time favorite comment:
I can’t stop laughing at that comment. I think I want it on my tombstone.
I wonder how much that would cost.
Maybe I think the Stimulus was about jobs because Biden said that is what it was, his three letter word and all. Perhaps it is because they said they would keep the unemployment number down and the opposite of unemployment is employment or jobs.
Perhaps we think you all believe 9% is the new norm because Obama said that it would be.
Perhaps we have trouble with you because you claim half of the 9% is where UE needs to be but when it was there under Bush you screamed about jobs.
You all are a study in conflicts.
It is about science. Fair enough but when I took science classes we were not allowed to make stuff up and “manipulate the data.” Color me skeptical but the numbers used were the ones that agreed with the conclusion.
According to my calculations we have only a few years left before the Armageddon Gore talked about (10 years tops). And yet, we seem to be doing fine.
It is all about the money and control. The GW movement sends money to wealthy Democrat supporters who give it to Democrats who fund scientists to say there is GW.
Prove global warming. Prove man causes it (if it exists). But before you claim I ignore science you might want to look in the mirror because it is you who ignores centuries of data that shows we have had hot and cold periods and that the Earth warmed and cooled long before man was here and that the CO2 levels were many multiples of what they are now when we had an ice age…
The reason you have problems is because your side keeps changing the goals of the stimulus. It was for this, no for that, no did this, no did that. We would have been better off without it.
And that statement is as valid as we would have been worse off without it. Before you bash me for it, bash Obama for making the counter claim.
“Perhaps we think you all believe 9% is the new norm because Obama said that it would be.”
When?
“Maybe I think the Stimulus was about jobs…”
Well, don’t confuse what I was trying to say. Your side says the government cannot create a job. I’m suggesting that the goal of the stimulus was not to directly create jobs. I’m suggesting the stimulus was created to stimulate the private sector itself to grow and create jobs. There is a big difference there that your side ignores. That is one reason why in the last 12 months we’ve seen the private sector grow by 1,723,000 and the public sector shrink by 853,000.
“The reason you have problems is because your side keeps changing the goals of the stimulus.”
No, the goal has always been the same. The goal was to stimulate economic activity to hasten the end of the recession and speed us toward recovery by boosting GDP about 3% or so and adding or saving about 3 million or so jobs. That’s it. That’s all there is to it. The impact of that growth would of course vary dramatically depending on the scope of the recession but your side can’t come to terms with that.
The stimulus was not about government creating jobs:
This is from the description of the bill:
Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for fiscal year ending September 30, 2009, and for other purposes.
Emphasis is mine. So if it is not about government creating jobs why does the bill say that it is for job CREATION?
Source
Maybe it is you who can’t get what the stimulus was for right…
See what I wrote above. The government doesn’t create jobs. You are right on that. My point is simply that the stimulus was not about the government itself creating the jobs. The stimulus was instead about the government giving tax dollars and tax cuts to the private sector so that the private sector would shed fewer jobs and create more over time.
Well, when I say the the government doesn’t create jobs I mean the government doesn’t create private sector jobs. I think we can agree on that. The government can and does create many job opportunities in it’s own sector. The government however can also create policy that aids the private sector in creating private sector growth.
And the government can create an environment where private sector does not create jobs, as we see right now.
Tax breaks and tax cuts so the private sector can shed fewer jobs and create more.
So what you are saying is that tax cuts stimulate and allowing people to keep their own money will allow them to do what they want with it like grow and hire.
Glad you finally came around. Now, please tell the Democrats to stop pushing for tax increases.
“Now, please tell the Democrats to stop pushing for tax increases.”
Tax breaks do stimulate, which is why the stimulus included so many. It’s just not nearly as useful as stimulus cash itself like unemployment benefits and food stamps.
Letting the wealthiest Americans keep more of their “hard earned” money does little to nothing to stimulate the economy.
Your opinion about the wealthy. The fact is letting everyone keep more of their money is a good thing. IT BELONGS TO THEM.
And who are you to decide how much they get to keep? Is it yours?
“The fact is letting everyone keep more of their money is a good thing.”
Good is a matter of opinion. Stimulation is a pretty standard fact. Who am I to decide? Just a voter that is sick of seeing the rich treated like a 3% increase in their taxes is going to kill them. Raise it.
Well I am a voter who KNOWS that the rich pay most of the taxes in this country and am a taxpayer who is tired of the bottom half of wage earners not paying their fair share. I am a taxpayer who is tired of people getting money back even though they paid no taxes.
Good is a matter of opinion, yes and I think it would be good for everyone to be patriotic and pay their fair share. As it stands now nearly 50% of wage earners are not patriotic. The rich are paying more than enough and it is none of your business how they spend their money or what they do with it. However, as has been demonstrated time and again, if you morons increase their taxes they will end up paying the same or less because they know how to move their money. Look at all the businesses that moved out of the country because of our tax policies (and our UNION labor costs). Think they give a rat’s rear how it affects you and the workers if they move?
Think the rich give a damn about how it affects anyone when they know they pay nearly all the taxes in this country. If the rich all banded together they could cripple this nation. Hell, tax policies are a large part of what is happening now. Businesses are holding on to their money and it is killing the economy. So you can call that good but I don’t. I call it good when we are allowed to keep more of what we work for.
But you are a typical liberal who can only function by living off the fruits of another’s labor.