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Well teh stimulus was pushed saying it would prevent unemployemnt from eaching over 8%. In the end it represented specail interest spending. the infrastructure even has CNN described it amounted to a boston big jobs project for the entire US and the chief administrtion econmist says its peaked. Even liberlas demopcrats want a secod stimulus which isn;t likel;y at all. The jobs bill does havemuch support because of it and trhe defcit is a growing issue in both partiues now that opredcitions on its increasing in the futuere just on what is spent and owed now.The biggest winer in jobs have been teachers which is only tempoary and inTARP from Obama ;wall street andthe UAW.Even congress sees the stilulus as a failure as they certain have no stomach for another which they would iof it was such a success.That is why they are looing at direct tax breaks to companies for jobs not govermnet creatig any jobs.Some states are in fiancial crisisand many cities with poor prospects for the future.Now Obama even has said there coulkd be a double dip recession.Mainstreet sw no stimulkus because it was aimed at specail interest really.
The readjustment in the GDP is evidence the only thing that has grown was the government. No private sector investment, no consumer spending.
More out-and-out lies from the right-wing. In the most recent GDP data, personal consumption expenditures were UP in 2009-III by 2.9%, the largest increase since 2007-I. Gross private domestic investment was UP by 8.4% in 2009-III, the first increase at all since 2007-III.
More out-and-out lies from the right-wing. In the most recent GDP data, personal consumption expenditures were UP in 2009-III by 2.9%, the largest increase since 2007-I. Gross private domestic investment was UP by 8.4% in 2009-III, the first increase at all since 2007-III.
Much of the consumption is due to something conveniently not mentioned in this thread: tax relief.
Tax cuts amount to 37% of the stimulus. Tax cuts comprise the largest single portion of the program. If the rightwingers want to call failure, they're going to have to deal with that fact. From all the griping about the stimulus, one gets the impression that they've had a change of heart about tax relief.
Well teh stimulus was pushed saying it would prevent unemployemnt from eaching over 8%.
No, it wasn't. That's the right-wing disinformation media's made-up verison of history that came along once actual unemployment rose above 8%. The stimulus was sold on the basis of things having been left in absolutely terrible shape and there being a resultant need to develop and implement a broad-based stimulus plan to help avert and offset the damage. Obama was warning in early January that we confronted the real possibility of double-digit unemployment while noting that unemployment would peak earlier and at a lower level with a stimulus plan in place than without.
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Originally Posted by texdav
In the end it represented specail interest spending. the infrastructure even has CNN described it amounted to a boston big jobs project for the entire US...
So the entire US is just a special interest, then??? Have you been getting your Make Work Pay tax credit??? Are YOU a special interest, then??? How about when the MIssissippi floods and we send emergency aid to farmers and others in the region? Are THEY special interests also? Maybe some should just face up to the fact that "special interests" is in the main nothing more than an empty right-wing buzzword to be used when you don't have anything else to say.
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Originally Posted by texdav
...and the chief administrtion econmist says its peaked.
No, that's another out-and-out right-wing lie. What Ms Romer said was that the effect of the heavily front-loaded FISCAL stimulus (i.e., tax cuts and tax cut equivalents) would peak in the 2nd and 3rd quarters of 2009, and that their effect would have petered out altogether by mid-2010. She went on to say that this DOESN'T MEAN that the stimulus overall won't still be working. In one of the least often quoted statements of the year, she noted quite clearly that the stimulus would indeed continue to boost economic performance to levels well above what it would have been without the stimulus in place.
Much of the consumption is due to something conveniently not mentioned in this thread: tax relief. Tax cuts amount to 37% of the stimulus. Tax cuts comprise the largest single portion of the program. If the rightwingers want to call failure, they're going to have to deal with that fact. From all the griping about the stimulus, one gets the impression that they've had a change of heart about tax relief.
Yes, and all that consumption is adding to demand. Demand that serves either to protect existing jobs or promote new ones.
But you know, it's really only tax cuts passed by Republicans that actually work. When Democrats try it, all you get is epic failure I am told. Why Obama just signed into law another $33 billion in tax credits for small businesses earlier this month. Where are the right-wing kudos for that? There aren't any. It's likely that most people have never even heard of this.
Yes, and all that consumption is adding to demand. Demand that serves either to protect existing jobs or promote new ones.
Rightwingers aren't familiar with the demand side of the equation.
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But you know, it's really only tax cuts passed by Republicans that actually work. When Democrats try it, all you get is epic failure I am told. Why Obama just signed into law another $33 billion in tax credits for small businesses earlier this month. Where are the right-wing kudos for that? There aren't any. It's likely that most people have never even heard of this.
Tax cuts that increase demand are socialist! Oh...business...it's...it's...it's socialism! I'm Gumby, damn it!
The Stimulus has worked very well. Just ask the millions who are now working and would not have been otherwise. Has the Stimulus solved all our problems, no, it was never said that it would. The Stimulus has initiated a good deal of movement toward building future industry. There are several things going on now that would not be otherwise. Do we still have a jobs problem, absolutely! Recovering from the mess we were in, will be a long process. Nobody said is was going to be quick. Will we need a jobs bill, probably yes. Will the banks start lending to small business, yes, they are starting to now. I object to people implying the Stimulus was an Obama failure, when the exact opposite is true.
Perhaps I overstated the millions part of the statement, but there are many thousands. There won't be any way to determine exact numbers, nor will there be concensus of opinion on the estimates, the effect is being felt and will continue. Down the road there will be no legitimate way to deny that, although there will be those that will insist on denial.
Perhaps I overstated the millions part of the statement, but there are many thousands. There won't be any way to determine exact numbers, nor will there be concensus of opinion on the estimates, the effect is being felt and will continue. Down the road there will be no legitimate way to deny that, although there will be those that will insist on denial.
Yes, millions would have been an overstatement. At least for right now. Meanwhile, no one expects to be able to produce precise numbers, but there are ways to produce very good estimates, and there is in fact a broad consensus around the numbers that have been estimated by the administration. Those estimates conclude that ARRA boosted GDP growth in the second quarter by about 2.5 percentage points and in the third quarter by about 3.0 percentage points. That led to about half a million jobs in the second quarter and about a million in the third quarter that would not have been there but for the stimulus. These CEA estimates are in broad agreement with those of CBO, and also with those of leading private sector analysts such as Moody's, IHS Global Insight, Goldman Sachs, and Macroeconomic Advisers.
So you are not an American and when the economy goes under it won't effect you? No wonder you can afford to let the country collapse
So you admit Obama is allowing the american economy to go under?
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