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Thread: Judging Stimulus by Job Data Reveals Success

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    Judging Stimulus by Job Data Reveals Success

    Economic Scene - Success of Stimulus Bill Is Noteworthy as Another Is Weighed - NYTimes.com

    The article is a little preachy for my taste, so here is the most important paragraph.

    Just look at the outside evaluations of the stimulus. Perhaps the best-known economic research firms are IHS Global Insight, Macroeconomic Advisers and Moody’s Economy.com. They all estimate that the bill has added 1.6 million to 1.8 million jobs so far and that its ultimate impact will be roughly 2.5 million jobs. The Congressional Budget Office, an independent agency, considers these estimates to be conservative.
    I am curious to see what these numbers settle out to be in the end. Usually these types of large projects are best analyzed after the fact.

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    Re: Judging Stimulus by Job Data Reveals Success

    I'm hesitant about believing any of these predictions, especially because I can't find any of the analyses that Leonhardt claims confirm the stimulus's effect. I'm wondering if he's referring to the old estimates from last Spring, in which case I'd direct him to the government's projections to see how that accuracy turned out.

    What I did find was this:

    http://www.economy.com/mark-zandi/do...lan_012109.pdf

    Analyzing the House plan back in Jan of 09, Moody's claimed that it would create 4 million jobs by the end of 2010 and would result in an unemployment rate of 8.2% for 2009 and 9.0% for 2010.


    Stimulus Could Pay for 40% of Itself - Real Time Economics - WSJ

    Analyzing what looks like the eventual compromise bill, back in Jan 2009, Macroeconomic Advisors claimed that it would create 3.3 million jobs by the end of 2010 and that the unemployment rate would peak at 8.3%.

    None of this is really making me confident in Leonhardt's honesty or the accuracy of these phantom projections.
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    Re: Judging Stimulus by Job Data Reveals Success

    What success? The unemployment rate was 6% before the Messiah took office, the warning was that if we DIDN'T impose that $0.7T "Stimulus" (only 1/3 spent) on the taxpayers, then unemployment would rise to (gasp!!!) 8%.

    The bill was passed.

    Unemployment is now 10%.

    This is the definition of success you accept from your Messiah?

    Well, if you people accept this ass-backwards definition of success, why don't we urge the Messiah to destroy the country and wish him all the success he can get?

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    Re: Judging Stimulus by Job Data Reveals Success

    First there was no $787 billion dollar stimulus. Oh yes that much money was made available but only 1/3 or approximately $262 billion has been spent and there is to date no proof it had any affect on unemployment numbers.

    With 7 million people out of work there are fewer people becoming unemployed because there are fewer jobs for people to lose and people giving up and they stopped looking.

    Obama has been caught lying about the numbers in Congressional Districts that don't even exist. How is it the N.Y.Times section of the Obamedia false to include any facts that show this whole idea of "success" is a phony?

    The worst is yet to come not behind us.
    Last edited by Councilman; 02-17-10 at 06:16 PM.

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    Re: Judging Stimulus by Job Data Reveals Success

    Quote Originally Posted by RightinNYC View Post
    None of this is really making me confident in Leonhardt's honesty or the accuracy of these phantom projections.
    I also wouldn't be surprised of them trying to take credit based off loose associations. Other then one act coming before another there is little evidence to suggest there was direct association between the spend and a decrease in unemployment.
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    Re: Judging Stimulus by Job Data Reveals Success

    Quote Originally Posted by Councilman View Post
    First there was no $787 billion dollar stimulus. Oh yes that much money was made available but only 1/3 or approximately $262 billion has been spent and there is to date no proof it had any affect on unemployment numbers.
    See that underlined title at the top of the first post in the thread -- it's called a 'link'.

    I suggest you click on it, read, and think... before speaking.

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    Re: Judging Stimulus by Job Data Reveals Success

    Quote Originally Posted by hazlnut View Post
    See that underlined title at the top of the first post in the thread -- it's called a 'link'.

    I suggest you click on it, read, and think... before speaking.
    Just because the article uses two titles in the same sentence doesn't mean they are linked. Jobs could have very well decreased without the stimulus.
    "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
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    Re: Judging Stimulus by Job Data Reveals Success

    1. he's losing credibility

    2. he doesn't know what he's doing

    3. he can't say exactly how much of the stimulus has been spent

    4. he can't say exactly how many jobs have been created or saved

    5. he can't say "created or saved"

    6. he can't say "stimulus"

    7. the white house has done a HORRIBLE job accounting for all this spending and supposed hiring

    8. and WORSE explaining, making public, being transparent

    9. why does he HAVE TO call this second stimulus a "jobs bill?"

    10. why MUST he refer to the first as his "recovery act?"

    11. just last summer he referred routinely to it as "the stimulus"

    12. but then the hundreds of stories broke all across the country, usually printed in local newspapers, about bogus jobs bragged about which didn't really exist

    13. we learned about all the TEMPORARY jobs he was claiming

    14. all the pay raises he ACCOUNTED as new hires

    15. all the stories about 3 or 4 jobs created/saved at the cost of some million dollars

    16. EVEN BY THE PRESIDENT'S OWN RECKONING---2 MILLION JOBS---AT 260 BILLION DOLLARS, THAT'S 130K PER

    17. of course, his own economic team disagrees famously and publicly on the actual number of jobs

    18. there were all those phantom districts

    19. and zip codes

    20. on HIS OWN recovery.gov

    21. cbo has adjusted the 787B to 862

    22. these are all the things WE KNOW

    23. IF THE FIRST STIMULUS WORKED WHY DO WE NEED A SECOND?

    24. why is the second STIMULUS dying an embarrassing, bayh-busting death at the hurtful hands of vengeful harry reid?

    25. bottom line: he said it would go to 8% WITHOUT a stimulus

    26. we're at 10, with a 17% underemployed

    27. according to nyt/cbs poll, feb 10, only SIX PERCENT believe the stimulus created significant jobs

    http://www.cbsnews.com/htdocs/pdf/po...ess_021110.pdf

    28. in october george stephanopoulos reported that clueless christina romer testified in congress that the stimulus would have its greatest impact in the 2nd and 3rd quarters of 09 and wouldn't do much in 2010

    Obama Economic Adviser: The Stimulus? Impact on Economic Growth Has Past - George's Bottom Line

    29. you see, one thing's for sure---they don't know what they're doing

    30. he's selling snake oil

    31. which is why his entire agenda is dead

    32. his big one (pre MA)---health care, cap and trade, reg reform

    33. as well as his little teeny tiny one (post MA)---jobs bill, bank tax, debt commission, spending freeze

    34. he really needs to shut up

    35. if you truly want to create jobs, millions of em, cut payroll taxes (schumer-hatch)

    36. hello

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    Re: Judging Stimulus by Job Data Reveals Success

    abc aint buyin it

    RealClearPolitics - Video - ABC News: Is the Stimulus Plan Really Making a Difference?

    wow!

    tapper's quite the hitman

    he brought up a new complaint:

    tens of millions of WFA

    waste, fraud and abuse

    msm never did buy this stimulus, they've been all over it from the start

    looks like we can count on that continuing

    obama loses credibility with every overbold step

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    Re: Judging Stimulus by Job Data Reveals Success

    Quote Originally Posted by Scarecrow Akhbar View Post
    What success? The unemployment rate was 6% before the Messiah took office
    It was almost 8% when he took office. Get your numbers straight.

    Now for a graph that more shows the success of the Obama administration:


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