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Thread: Republicans block Obama jobs bill

  1. #1031
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Swit View Post
    I still suggest giving him the rope.... if what you say is true it would cement republican victories for years to come.
    Republican victories won't even come in a year, let alone years to come. The American people clearly see which party has the ideas and which party is trying to engineer American failure (because wining elections is more important to Republicans than America itself).

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by upsideguy View Post
    Please list the credible economists that fit this bill. I really doubt you can come up with more than two. Also tell me what led to the end of the Great Depression ended.
    So you call the stimulus a success? Slightly liberal? LOL

    September 23, 2010

    The Failure of Obama's Stimulus

    By Steve Chapman

    No one spends money like the federal government. This year alone, it will shovel out $3.7 trillion, which works out to $7 million a minute. So it may surprise you to find out the clearest lesson from the Obama administration's fiscal stimulus program: The government is not very good at spending money.

    12:07 PM, Jul 3, 2011 - The stimulus is now causing the economy to shed jobs. When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

    The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.
    In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead...

  3. #1033
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by upsideguy View Post
    Republican victories won't even come in a year, let alone years to come. The American people clearly see which party has the ideas and which party is trying to engineer American failure (because wining elections is more important to Republicans than America itself).
    why would you support a President that generated these results TODAY, over 2 years after the recession ended? These your ideas of great ideas?

    Obama economic results in 2011,
    .4% GDP and 1.3% GDP growth in 2011(bea.gov)
    25+ million unemployed or under employed Americans in 2011(bls.gov)
    2.6 million fewer jobs(bls.gov)
    4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
    Downgrade of the U.S. credit rating(S&P)
    Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
    38-41% JAR and well over 50-55% disapproval ratings(Gallup)


    Slightly liberal? LOL

  4. #1034
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    So you call the stimulus a success? Slightly liberal? LOL

    September 23, 2010

    The Failure of Obama's Stimulus

    By Steve Chapman

    No one spends money like the federal government. This year alone, it will shovel out $3.7 trillion, which works out to $7 million a minute. So it may surprise you to find out the clearest lesson from the Obama administration's fiscal stimulus program: The government is not very good at spending money.
    This is a link to Conservative's article

  5. #1035
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    Re: Republicans block Obama jobs bill

    Did you read that article, Conservative? He is saying it hurt the economy, not because of the money it spent, but because of this:

    If the slow-arriving infrastructure spending were the only component, the weak comeback might be understandable. But the other components of the American Recovery and Reinvestment Act were designed to get money out in a big hurry.

    The program included $282 billion in tax cuts, which took effect immediately to boost the take-home pay of workers. It also furnished $140 billion in aid to state and local governments, so they could maintain programs and avoid mass layoffs of public employees.

    What's wrong with those elements? For one thing, there is no compelling evidence that they function as intended. Tax cuts are supposed to induce consumers to spend more, but past experience indicates that people use most of the windfall to increase their savings or pay down debts — neither of which puts people back to work.

    A recent study for the National Bureau of Economic Research, by Joel Slemrod and Matthew Shapiro of the University of Michigan and Claudia Sahm of the Federal Reserve Board, says that's exactly what happened with Obama's tax cuts. The effect on spending, they concluded, was "modest at best."
    You probably should read the articles before you post them. You just quoted a guy who think supply-side economics is nonsense and used him as your source. Plus, I think they requested you find an economist who thinks the stimulus package hurt the economy, and I think this guy is just a writer from the Chicago Tribune.

    Steve Chapman - Conservative Columnist and Political Commentator
    Steve Chapman is a columnist and editorial writer for the Chicago Tribune. His twice-a-week column.
    Last edited by whysoserious; 10-23-11 at 12:10 AM.

  6. #1036
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by whysoserious View Post
    Did you read that article, Conservative? He is saying it hurt the economy, not because of the money it spent, but because of this:



    You probably should read the articles before you post them. You just quoted a guy who think supply-side economics is nonsense and used him as your source. Plus, I think they requested you find an economist who thinks the stimulus package hurt the economy, and I think this guy is just a writer from the Chicago Tribune.

    http://www.google.com/url?sa=t&rct=j...r1tJr8B_VB3JbQ
    Yep, read the article and understand the article completely. I have posted many times the breakdown of those tax cuts which did nothing but cost the American taxpayer billions in debt service. Most of the taxs were rebate checks that once spent were gone, the rest were targeted. Did your paycheck go up? You are working, right?

    From the article

    A recent study for the National Bureau of Economic Research, by Joel Slemrod and Matthew Shapiro of the University of Michigan and Claudia Sahm of the Federal Reserve Board, says that's exactly what happened with Obama's tax cuts. The effect on spending, they concluded, was "modest at best."
    Last edited by Conservative; 10-23-11 at 12:14 AM.

  7. #1037
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    So you call the stimulus a success? Slightly liberal? LOL

    September 23, 2010

    The Failure of Obama's Stimulus

    By Steve Chapman

    No one spends money like the federal government. This year alone, it will shovel out $3.7 trillion, which works out to $7 million a minute. So it may surprise you to find out the clearest lesson from the Obama administration's fiscal stimulus program: The government is not very good at spending money.

    12:07 PM, Jul 3, 2011 - The stimulus is now causing the economy to shed jobs. When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

    The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.
    In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead...
    I live in Chicago and read the Tribune daily I would hardly consider Steve Chapman an economist any more than I would consider myself one.

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    Yep, read the article and understand the article completely. I have posted many times the breakdown of those tax cuts which did nothing but cost the American taxpayer billions in debt service. Most of the taxs were rebate checks that once spent were gone, the rest were targeted. Did your paycheck go up? You are working, right?
    So now you are taking a position against tax cuts?

  9. #1039
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Swit View Post
    I live in Chicago and read the Tribune daily I would hardly consider Steve Chapman an economist any more than I would consider myself one.
    And I would hardly call the Obama stimulus a success with these numbers

    Obama economic results in 2011,
    .4% GDP and 1.3% GDP growth in 2011(bea.gov)
    25+ million unemployed or under employed Americans in 2011(bls.gov)
    2.6 million fewer jobs(bls.gov)
    4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
    Downgrade of the U.S. credit rating(S&P)
    Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
    38-41% JAR and well over 50-55% disapproval ratings(Gallup)

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by winston53660 View Post
    So now you are taking a position against tax cuts?
    I can answer for him, because he is predictable. He'll say tax rebates, not tax cuts. The only difference being that tax rebates give a lump sum and tax cuts give it nominally.

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