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Thread: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by washunut View Post
    Many progressive economists like Krugman agree that this stimulus package was not sufficient.
    I know. I think it probably wasn't either. It's the classic case of a government program failing not because it's too big, but because it's not big enough. Sometimes that happens.

    Not that it's been a complete failure, mind you.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by washunut View Post
    OK, lets have a honest debate about what exactly the Obama administration did to keep us out of a full blown recession, as you say.

    I say that TARP was created under the previous administration so Obama should not take credit for that. The stimulus was tiny for an economy of our size. We spent something like $200 billion in 2009 on a $13 trillion economy. Clearly not the bold move needed to ward of the recession. In addition many feel that the money was improperly targeted. Much of the 2009 money went in the form on tax cuts to the poor. This allowed people to pay off some debt or save a bit. However to cut off a recession you want the money to directly flow into the economy. Actually the Chinese did a much better job with their stimulus package and they are communists!
    The recession was coming and could not be stopped. We did not fall into a depression.....yet. Do you think Obama should have spent more on the stimulus? Where would you have targeted it? Corporations already had way too much capacity for existing demand. They were going to downsize no matter who got the tax breaks.
    Tax cuts to the poor and middle class did go directly into the economy and did help boost demand a bit.
    The recession will not be over until the housing sector stabilizes and that could be decades. Reducing the suffering is about all Obama can hope for.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Goldenboy219 View Post
    The tone of the "Hannity followers" when job creation is in full effect will be priceless. If there is job creation in the tune of 300k by summers end, the "conservative victory tour" will be a wash out.
    123,000 jobs doesn't even meet the job growth needed to even keep up with population increase, the participating labor force increased by 625,000 people for the first 3 months of the year, so even to keep where we were would have required a job increase of 208,000 newly employed workers. So ya thanks for the good news of static job growth and a continued unemployment rate of 9.7% change we can believe in.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by megaprogman View Post
    162,000 Jobs Added in March - Rate Remains 9.7% - NYTimes.com



    The real number is 123,000 jobs, since the temp census jobs don't really count in my opinion.
    You forgot that 40,000 jobs from the private sector were, also, temp positions. In fact 54% of the 162,000 jobs were temp positions.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Agent Ferris View Post
    123,000 jobs doesn't even meet the job growth needed to even keep up with population increase, the participating labor force increased by 625,000 people for the first 3 months of the year, so even to keep where we were would have required a job increase of 208,000 newly employed workers. So ya thanks for the good news of static job growth and a continued unemployment rate of 9.7% change we can believe in.
    The economy was in much worse shape that they had thought. It probably can't be fixed. Thanks GWB.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Goldenboy219 View Post
    No relevant economic comment; only your overstated opinion. Noted and not surprised.

    Positive job growth in the tune of six figures is now considered "neutral"?
    Yes actually first of all 54% of those 162,000 jobs were temp position, 2nd of all the participating labour force increased by 625,000 over the first three months of the year which means a job increase of 208,000 would have been required just to stay afloat and keep the unemployment rate where it is.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by USA-1 View Post
    The economy was in much worse shape that they had thought. It probably can't be fixed. Thanks GWB.
    lol yep, let's play the blame game, tell me when exactly does this become Obama's economy? Perhaps after he has left office?

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Agent Ferris View Post
    lol yep, let's play the blame game, tell me when exactly does this become Obama's economy? Perhaps after he has left office?
    If the economy is still in shambles after Obama leaves office, it will still be Bush's recession for the next president, too. Dem or Rep. It may take a couple decades to clean up this mess.
    There really is nothing Obama can do to fix the housing sector. Perhaps time will sort it out. Perhaps not.


    Looks like market may be adjusting today.
    Last edited by USA_1; 04-16-10 at 01:37 PM.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Agent Ferris View Post
    lol yep, let's play the blame game, tell me when exactly does this become Obama's economy? Perhaps after he has left office?
    See, this is the problem. It's not Obama's or Bush's economy. It's the economy. The President can only do so much. This idea that the a President is in charge of the economy is very unrealistic. He doesn't just push buttons and make it go.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by USA-1 View Post
    The recession was coming and could not be stopped. We did not fall into a depression.....yet. Do you think Obama should have spent more on the stimulus? Where would you have targeted it? Corporations already had way too much capacity for existing demand. They were going to downsize no matter who got the tax breaks.
    Tax cuts to the poor and middle class did go directly into the economy and did help boost demand a bit.
    The recession will not be over until the housing sector stabilizes and that could be decades. Reducing the suffering is about all Obama can hope for.
    If you read my response you would have seen that I said we should have spent more stimulus money in 2009.

    While some of the tax cut money got into the economy some did not. People who study this say that tax cuts are not an efficient use of stimulus dollars.

    Again you mention we did not go into a depression, true.

    What no one has responded to yet is what exactly can you point to that the Obama administration did to keep us out of a depression.

    Stimulus spending of $200 billion in a $13 trillion economy does not stop anything.

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