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Thread: Stimulus package falling flat, lawmakers say

  1. #11
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    Re: Stimulus package falling flat, lawmakers say

    Quote Originally Posted by MrVicchio View Post
    Isn't that always the answer from folks like you?

    "You think our programs were bad, imagine what would have happened without them!!!"

    Cue scary music!

    Yea, and what you and your cohorts are doing is any different?

    "these programs are bad because doing without them would be so much better"... based on what factual evidence?

    You are no different.
    PeteEU

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    Re: Stimulus package falling flat, lawmakers say

    Quote Originally Posted by PeteEU View Post
    Yea, and what you and your cohorts are doing is any different?

    "these programs are bad because doing without them would be so much better"... based on what factual evidence?

    You are no different.
    The 'factual evidence' is the money that was borrowed, & the interest on that money will have to be repaid.....
    What the 'cohorts' are doing in not borrowing & spending money we don't have........

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    Re: Stimulus package falling flat, lawmakers say

    Quote Originally Posted by PeteEU View Post
    What they cant say, is how much worse it would be without it..
    It would not be worse,it would be better by ALOT.
    For one,we wouldn't have all this new debt placed on all us. And we would most likely be out of the recession by now,because if the Government would just stop spending it lets real new money and jobs come in!

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    Re: Stimulus package falling flat, lawmakers say

    It is understandable that some of California's lawmakers are frustrated that the fiscal stimulus didn't make California's unemployment problem disappear. But California's unemployment problem reflects more than just aggregate demand. It is a function of the State's business climate, the competitiveness of its own firms, among other variables.

    California's having a higher unemployment rate than the nation is not a new situation. Since the Bureau of Labor Statistics provided state unemployment data beginning in 2000, California's unemployment rate has exceeded the national rate in every year.

    California vs. U.S. Unemployment Rates:
    2000 4.9% vs. 4.0%
    2001 5.4% vs. 4.7%
    2002 6.7% vs. 5.8%
    2003 6.8% vs. 6.0%
    2004 6.2% vs. 5.5%
    2005 5.4% vs. 5.1%
    2006 4.9% vs. 4.6%
    2007 5.3% vs. 4.6%
    2008 7.2% vs. 5.8%
    2009 11.4% vs. 9.3%
    2010 12.5% vs. 9.7% (February)

    Los Angeles, San Francisco, and San Diego also experienced massive real estate bubbles. Those bubbles, fueled by leverage, have burst. Given the amount of debt that was involved, that has also created a drag on California vis-a-vis some of the other states that did not experience comparable real estate inflation. The stimulus was aimed at shoring up aggregate demand. It was not designed to bail out the household sector nor reinflate the housing bubble. Hence, even with the fiscal stimulus, California has likely experienced greater deleveraging on account of the steeper fall in previously excessively inflated real estate prices. As a result, the gap between California's and the national unemployment rate is wider than usual. Moreover, it may take longer to narrow, especially if California suffers from additional chaotic budget crises.

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    Re: Stimulus package falling flat, lawmakers say

    Quote Originally Posted by pro-bipartisan View Post
    How are conservatives saying the stimulus already failed? Whenever liberals say it's working they say it's too early to tell!
    it certainly is not. objectively, the stimulus has failed to produce what was predicted by its proponents.

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