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Thread: Economists: The stimulus didn't help

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by drz-400 View Post
    I don't really care what Obama said unemployment was going to be
    most americans do, he's sposed to LOOK like he knows what he's doing

    Democrat: Obama should not have said unemployment would peak at 8 percent - The Hill's Blog Briefing Room

    Obey slams administration for stimulus reporting errors - The Hill's Blog Briefing Room

    unemployment's sposed to go DOWN

    he's incompetent

    are you following the goings on in europe?

    the populi are pretty plain---they're not prepared to PAY

    did you see the dow this week?

    jitters, jitters, jitters

    the same, by the way, is happening in our airports

    everyone's about to jump outta their seats cuz someone dropped a suitcase

    this is what ineptitude at the top produces, naturally

    IN TIMES LIKE THESE

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by drz-400 View Post
    Your correct, they lowballed their estimates, but the output/unemployment gap has become much larger than most models based on historical data would have suggested at the time. I don't really care what Obama said unemployment was going to be, all I care is that the stimulus has helped, and it seems it has. The debt will be a problem, no doubt, and that massive debt was not brought about by short term spending, but rather long term issues that need to be adressed. I guess short term and long term can be subjective, but I would call SS, medicare, and military type spending long term since we will be doing that for decades into the future rather than 2-3 years. I think that getting the economy on track is an important first step towards fiscal sustainablity though, because a recession will bring about inevitable defecits.

    Also, without the transfer payments, think about how low the saving rate would be (or consumption since maybe some people would not want to spend that much). Obviously the government cannot continue to supplement everyones income at this magnitude, or people cannot continue to fuel consumption by taking on more and more debt. That is why spurring economic growth is so important, so the market and jobs can grow peoples income. This is just an even greater case for using stimulus to boost the economy.
    It does seem that too many people do not understand exactly how much is 800 billion dollars, nor do they understand stimulus, emergency legislation, and degree of so called help.

    When you say the Stimulus plan helped, gee, I would hope so, 842 billion dollar stimulus plan better help but the question is to what degree and did we get our money's worth. The answer obviously is NO, if it was a true emergency then more than 1/3 of the money would have been spent and it wouldn't have taken 1 1/2 years to generate the results you posted which are meager at best.

    Obama told us all, never let a good crisis go to waste and that is what he did to pass this slush fund which we all are going to pay for. As it is the debt the past two years will exceed 3 trillion dollars and that is with 2/3 of the stimulus money not spent. Hopefully you see the problem here as there hasn't been that strong PRIVATE sector economic growth and job creation and that is where meaningful GDP Growth occurs.

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    Re: Economists: The stimulus didn't help

    exactly

    the 862B dollar stimu... RECOVERY ACT has NOT been paid for

    EVERY PENNY president pie-in-the-face puts out, at this point, is PAWNED

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by The Prof View Post
    most americans do, he's sposed to LOOK like he knows what he's doing

    Democrat: Obama should not have said unemployment would peak at 8 percent - The Hill's Blog Briefing Room

    Obey slams administration for stimulus reporting errors - The Hill's Blog Briefing Room

    unemployment's sposed to go DOWN

    he's incompetent

    are you following the goings on in europe?

    the populi are pretty plain---they're not prepared to PAY

    did you see the dow this week?

    jitters, jitters, jitters

    the same, by the way, is happening in our airports

    everyone's about to jump outta their seats cuz someone dropped a suitcase

    this is what ineptitude at the top produces, naturally

    IN TIMES LIKE THESE

    God could not fix the mess the last administration created.
    "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: Economists: The stimulus didn't help

    Quote Originally Posted by USA-1 View Post
    God could not fix the mess the last administration created.
    Notice that you ran from the tough questions asked of you but instead prefer to revert back to the bash Bush tactic.

    You and others like you haven't a clue. Answer the posts prior to this one and explain to us what the Congress did under Democrat Control and with Obama in the Senate beginning in 2007? The tell us what Obama did with the 842 billion dollar stimulus plan and here we are 1 1/2 years later and only these results?

    You really aren't this misinformed, are you?

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    Re: Economists: The stimulus didn't help


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    Re: Economists: The stimulus didn't help

    Aren't these the countries that Obama wants us to be more like? The European Social Model caused these problems with their cradle to grave coverage. Now they are paying the price.

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    Re: Economists: The stimulus didn't help

    ouch, good point

    actually, he's accelerating our advance towards eu mores

    look at the link for freddie above

    look at the housing piece, half those he hamp'ed have already re-defaulted

    his answer: more
    Last edited by The Prof; 05-06-10 at 09:59 PM.

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    Re: Economists: The stimulus didn't help

    Here you can more easily see the effect of the stimulus on income:



    Quote Originally Posted by Conservative
    When you say the Stimulus plan helped, gee, I would hope so, 842 billion dollar stimulus plan better help but the question is to what degree and did we get our money's worth. The answer obviously is NO, if it was a true emergency then more than 1/3 of the money would have been spent and it wouldn't have taken 1 1/2 years to generate the results you posted which are meager at best.
    I don't think it is obviously no. Certainly there are programs out there that have been extremely inefficient, in my opinion such an example is the first time homebuyer tax credit. However, a large amount if the stimulus money was allocated efficiently as well, such as the extension of unemployment benefits, which was shown to have a rather large multiplier effect.
    Last edited by drz-400; 05-07-10 at 01:00 AM.

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    Re: Economists: The stimulus didn't help

    Quote Originally Posted by drz-400 View Post
    Here you can more easily see the effect of the stimulus on income:





    I don't think it is obviously no. Certainly there are programs out there that have been extremely inefficient, in my opinion such an example is the first time homebuyer tax credit. However, a large amount if the stimulus money was allocated efficiently as well, such as the extension of unemployment benefits, which was shown to have a rather large multiplier effect.
    The question is the degree of so called help that the stimulus generated. We are 1 1/2 into the program, 1/3 of the money spent, unemployment remains close to 10%, 3 trillion is being added to the debt, very little private sector GDP growth. Frustrating when people don't seem to understand terms like billions and trillions.

    How anyone can look at spending billions to get these kind of results and call the stimulus successful is beyond me. Stop buying what you are told and realize what the American people could have done with that 842 BILLION had it been given in tax cuts.

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