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Title: CBO says stimulus may have added 3.3 million jobs
Source:
Washington Post
URL Source: http://voices.washingtonpost.com/po ... ays_stimulus_may_have_add.html
Published: Aug 24, 2010
Author: Lori Montgomery
Post Date: 2010-08-30 15:54:08 by go65
Keywords: None
Views: 29947
Comments: 41
President Obama's much-maligned economic stimulus package added as many as 3.3 million jobs to the economy during the second quarter of this year, and may have prevented the nation from lapsing back into recession, according to a report released Tuesday by the non-partisan Congressional Budget Office. In its latest quarterly assessment of the act, the CBO said the stimulus lowered the unemployment rate by between 0.7 and 1.8 percentage points during the quarter ending in June and increased the number of people employed by between 1.4 million and 3.3 million. The higher figure would come close to making good on Obama's pledge that the act would save or create as many as 3.5 million jobs by the end of this year. The CBO said the act also increased the nation's gross domestic product by between 1.7 percent and 4.5 percent in the second quarter, indicating that the stimulus may have been the primary source of growth in the U.S. economy. The Commerce Department estimates that GDP grew 2.4 percent in the second quarter, a figure many economists expect to be revised lower in a report due out Friday. The CBO cautioned that the the act's effects are expected to "gradually diminish during the second half of 2010 and beyond," leaving the private sector to pick up the slack in an economy that is already showing signs of deteriorating rapidly. On the bright side, the CBO revised the cost of the package downward: Originally estimated to cost $787 billion over 10 years, the stimulus was later estimated to cost $862 billion. But in the report released Tuesday, the CBO said it now expects the measure to cost only about $814 billion through 2019, with 70 percent of those costs incurred by the end of this year. Polls show that the public is deeply skeptical about the stimulus and tends to believe that it increased the national deficit without improving the economy. Republicans hoping to seize control of Congress in the November midterm elections have been blasting the act as a failure. But the CBO, which is respected by both Republicans and Democrats, has long held a different view and Democrats hailed Tuesday's report as further vindication of the president's signal economic achievement. "This new analysis from the nonpartisan Congressional Budget Office is further confirmation of what we've been hearing from leading economists, the nation's governors and families across the country: the Recovery Act is working to rescue the economy from eight years of failed economic policy and rebuild it even stronger than before," Vice President Biden said in a statement.
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#1. To: go65 (#0)
Where exactly were these "3.3 million jobs" added. Can you break it down, state by state, business by business, who exactly benefitted, until every job has been traced and connected to this 'stimulas package? Obama's famous for throwing numbers around, I want to see proof, links please, to back his claim! Thanks!
One word: Census.
LOL...I wouldn't doubt it....
LOL, we already know the bogus manner in which these CBO estimates occur http://www.heritage.org/research/reports/2010/03/stimulus-jobs-count-cbo-admits-it-ignored-the-economys-actual-performance
LMAO! "Suppose you were an idiot, and suppose you were a member of Congress; but I repeat myself."~ Mark Twain
There are days- like today- when I don't feel like arguing with people... Too tired, or whatever. ;)
The record number of millions unemployed, and unable to find work just get even more pissed off when they read this fantasyland bullshit. Which of course is fine by me, cause they have PLENTY OF TIME to show up and vote come November.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Too tired, or whatever. ;) I think I know those you speak of, they don't know when to give it a rest, and even think I actually care shows how really stupid they are. They really have to be miserable souls in real life to behave the way they do from daylight to dark, and then some....as long as we know who we are, who gives a damn what anonymous perverts thinks? &;-)
Look, this is really, really, brain dead simple. The measure has ALWAYS been about net jobs gained or lost. Since the "stimulus" was passed, more than 2 million net jobs have been lost. No Orwellian language will change that. The American people get it. The Democrats are going to get it in November. It's just that simple.
Which of course is fine by me, cause they have PLENTY OF TIME to show up and vote come November. Very good analysis....
Today is one of those days for me. I just don't care for War's bullshit "got a link."
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
Yeah, but the most lazy of the lazy will constantly pull the "D" lever. You can count on that.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
Obama's famous for throwing numbers around, I want to see proof, links please, to back his claim! Than It's not Obama's claim, the report comes from the CBO. here's the link: 700k jobs lost in the last month your beloved George W. Bush was in charge, and you want to return to that.
Bullshit, Mammy! That boy ain't right.
President Obama's much-maligned economic stimulus package added as many as 3.3 million jobs to the economy during the second quarter of this year, and may have prevented the nation from lapsing back into recession, according to a report released Tuesday by the non-partisan Congressional Budget Office.
#2. To: go65 (#0)
President Obama's much-maligned economic stimulus package added as many as 3.3 million jobs to the economy during the second quarter of this year, and may have prevented the nation from lapsing back into recession, according to a report released Tuesday by the non-partisan Congressional Budget Office.
Mad dog gets "calibrated..."
#3. To: Murron (#1)
Where exactly were these "3.3 million jobs" added.
Mad dog gets "calibrated..."
#4. To: Capitalist Eric (#3)
One word: Census.
#5. To: go65 (#0)
#6. To: go65 (#0)
The CBO's conclusion that the stimulus created jobs is based on an economic model that began with the premise that all stimulus bills create jobs. In other words, the conclusion is already assumed as a premise. Logicians call this the fallacy of begging the question. Mathematicians call it assuming what you are trying to prove.
#7. To: Capitalist Eric (#2)
.."according to a report released Tuesday by the non-partisan Congressional Budget Office."
#8. To: Murron (#7)
Mad dog gets
"calibrated..."
#9. To: go65 (#0)
#10. To: Capitalist Eric (#8)
There are days- like today- when I don't feel like arguing with people...
#11. To: go65 (#0)
American public policy has been dominated by Democrats who don't care and Republicans that don't dare -- Dick Armey
#12. To: Badeye (#9)
The record number of millions unemployed, and unable to find work just get even more pissed off when they read this fantasyland bullshit.
#13. To: Capitalist Eric (#8)
There are days- like today- when I don't feel like arguing with people...
#14. To: Badeye (#9)
Which of course is fine by me, cause they have PLENTY OF TIME to show up and vote come November.
#15. To: Murron (#1)
Where exactly were these "3.3 million jobs" added. Can you break it down, state by state, business by business, who exactly benefitted, until every job has been traced and connected to this 'stimulas package?
And the Conservative plan to create jobs is......?????
#16. To: Badeye (#9)
The record number of millions unemployed, and unable to find work just get even more pissed off when they read this fantasyland bullshit.
And the Conservative plan to create jobs is......?????
#17. To: Murron (#12)
Very good analysis....
"Lets [sic] rent a room." ~ Tull to Rotara
#18. To: go65 (#0)
In China.
CBO says stimulus may have added 3.3 million jobs
#19. To: Murron (#12)
The overall population hasn't been this pissed off since immediately after 9/11. The fact the Right can get several hundred thousand to show up at rallies alone demonstrates it.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#20. To: go65 (#16)
(laughing) Bush isn't on the ballot. You should be thankful. He's two for two. Meanwhile, your messiah's implosion continues. And here comes the November tidal wave.
700k jobs lost in the last month your beloved George W. Bush was in charge, and you want to return to that.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#21. To: go65 (#16)
GO65, Of the 3.3 Million jobs, how many were census? A legitimate question. And, are "saved" jobs counted in that figure.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
#22. To: Nebuchadnezzar (#13)
You made something up about me out of whole cloth and I asked you to buck it up. You failed to. Nor have you retracted what you made up out of whole cloth.
Today is one of those days for me. I just don't care for War's bullshit "got a link."
#23. To: Nebuchadnezzar (#21) (Edited)
500,000 Again, the measure has ALWAYS been about NET jobs gained or lost. Since the "stimulus" was passed, more than 2 million NET jobs have been lost. Quite frankly, stealing money from our kid's future to subsidize the construction of $500 million Taj Mahal schools is criminal, regardless of how many new janitors it will employ.
Of the 3.3 Million jobs, how many were census?
American public policy has been dominated by Democrats who don't care and Republicans that don't dare -- Dick Armey
#24. To: war (#22)
You failed to. Nor have you retracted what you made up out of whole cloth. Dude, you said the increase in Health Care costs was not due to government policy. Sorry, not made up.
You made something up about me out of whole cloth and I asked you to buck it up.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
#25. To: Nebuchadnezzar (#24)
Liar liar pants on fire!!!!
Dude, you said the increase in Health Care costs was not due to government policy.
#26. To: war (#25)
Okay, Eric.
Dude, you said the increase in Health Care costs was not due to government policy.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
#27. To: Nebuchadnezzar (#26)
Whatever, Douche'.
#28. To: go65 (#16)
Do you honestly think you command a smidgen of respect leading anyone here to bother responding to your lightweight thought capacity? Nobody will, dimwit...I don't have to look down the thread to know that to be the answer. You are a laughingstock....piss the hell off.
And the Conservative plan to create jobs is......?????
Death to everybody who does not get outta my way. Below is the latest Dwarf revelation: ...."the shorts and bibs I wear are of a carbon/lycra/nylon composition......and maaaaaannnnnn....just letting everybody know that makes my balls SWELL......I'm just tooooooo sexy for you all!!" ....Dwarf August 2010.............. And one from the bluehair 2-legged GPS "I always get the Carolinas mixed up for some reason." ......Fred Jerx (who will doubtless figure out intricacy of that tricky "North / South" thing someday.
#29. To: war, Nebuchadnezzar, e_type_jag, badeye (#22)
You failed to. Nor have you retracted what you made up out of whole cloth. "Whole cloth"?? But wasn't it Spandex?? You made something up about me out of whole cloth and I asked you to buck it up.
#30. To: jwpegler (#23)
Quite frankly, stealing money from our kid's future to subsidize the construction of $500 million Taj Mahal schools is criminal, regardless of how many new janitors it will employ. did you see that Boehner has offered up a spending and tax cut package that according to the CBO will reduce the deficit by 0? The tax cuts offset the savings from the spending cuts.
Again, the measure has ALWAYS been about NET jobs gained or lost. Since the "stimulus" was passed, more than 2 million NET jobs have been lost.
And the Conservative plan to create jobs is......?????
#31. To: Nebuchadnezzar (#21)
Better question: What jobs? Where are they? Who holds them? The Left can't answer this simple question.
Of the 3.3 Million jobs, how many were census?
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#32. To: go65 (#30)
Lost another 10,000 jobs last month. Recovery Summer is now a late night punchline.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#33. To: Badeye (#32)
still well shy of the 700,000 jobs lost in the final month of Republican control of the White House, and yet you keep advocating a return to Republican control.
Lost another 10,000 jobs last month.
And the Conservative plan to create jobs is......?????
#34. To: Badeye (#31)
the answer is in the CBO report, which obviously you haven't bothered to read. But again, we all know that your complaint is that we aren't losing enough jobs and that unemployment is lower than you want it to be.
The Left can't answer this simple question.
And the Conservative plan to create jobs is......?????
#35. To: go65 (#33) (Edited)
ADP has correctly predicted NFP a whopping 0 times.
#36. To: go65 (#33)
Lost another 10,000 jobs last month. still well shy of the 700,000 jobs lost in the final month of Republican control of the White House, and yet you keep advocating a return to Republican control. Voters don't care about your talking points bashing Bush these days, GO65. But hey, keep doing that, reminding voters of the Bush Era, when we saw unemployment below 5% for most of it works well for me.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#37. To: go65 (#34)
When you get desperate politically, you always make shit up, and attribute it to some poster thats Conservative. Like you do here. Have any post of mine to support the above statement? (nope)
we all know that your complaint is that we aren't losing enough jobs and that unemployment is lower than you want it to be.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#38. To: go65 (#30)
As I keep telling Badeye, Boenher is an idiot
American public policy has been dominated by Democrats who don't care and Republicans that don't dare -- Dick Armey
#39. To: war (#35)
So the ADP report is wrong? What is your prediction for Friday's EU numbers?
ADP has correctly predicted NFP a whopping 0 times.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
#40. To: Nebuchadnezzar (#39)
I don't have a crystal balll but based upon past performance, yes, it's wrong. Probably overall down a hundo.,..Privates will be up modestly.
So the ADP report is wrong?
.
.
.
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