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Thread: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

  1. #31
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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by RightinNYC View Post
    Don-

    Are these tallies on jobs calculated using the White House's revised method of counting job creation?

    http://www.debatepolitics.com/genera...obs-count.html
    No. CBO's estimates are completely based on what its models showed, not White House estimates.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by political_signs View Post
    okay wow... so didnt see your cnn list there GRIM17 uhhh well some of the things on that list are really essential. the whole going green thing im so for it. it helps out the environment as well as the wildland fire management on forest service lands. gotta keep the forests alive somehow.


    idk even know what it is nor am i going to google it. it just sounds retarted.


    wow... really? really? well at least we save more money then the government spending money on gas so theres a lot more money back in the pocket ;]
    And pollute the air even more with Lithium Ion batteries for those cars. Yes, great plan

    How about addressing the rest of the pork in his post?
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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by donsutherland1 View Post
    No. CBO's estimates are completely based on what its models showed, not White House estimates.
    The estimates were from the CBO, but I believe the model they used was the revised version that the White House came up with.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Even if the economy does turn around, wouldn't it have turned around without the stimulus package? Was it worth the price tag?
    If you expect people to be rational, you aren't being rational.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by mpg View Post
    Even if the economy does turn around, wouldn't it have turned around without the stimulus package? Was it worth the price tag?
    more than likely, hopefully the stimulus will have helped hasten the process though..
    I use a lot of satire and sarcasm so keep that in mind when reading my posts.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by j-mac View Post
    As long as the CBO is only allowed to use Keyensian economists to formulate its conclusions it will always be skewed.

    I'd like to see a report with a more narrow window of what was supposedly created in jobs, as opposed to the aggregate number of unemployment claims for the same period. I bet it'd be a net loss.


    j-mac
    I'm wondering if their computer model is any better than the one used for climate forecasts........ probably not.
    There is no such thing as a “Natural Born Dual-Citizen“.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by Grim17 View Post
    The estimates were from the CBO, but I believe the model they used was the revised version that the White House came up with.
    I don't know what the white house version was, but according to the paper don cited (in the appendix) the CBO drew heavily from two different commercial forecasting models. One from Macroeconomic Advisors and Global Insight, and the other from FRB-US (which is used at the Federal Reserve). They also drew from several journal articles that detailed research involving assumptions and multipliers, and also from historical data.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    why, certainly, the stimulus worked!

    we can all feel it working

    unfortunately, EIGHT HUNDRED AND SIXTY TWO BILLION DOLLARS later, not enough of us are (working, that is)

    indeed, we readers learned yesterday that the stimu... (excuse me, we really shouldn't use that word, obama hates it, he prefers recovery act) cost in toto MORE than seven years of w-stands-for-what's-his-name's war which w had to LIE (our elitists' favorite word) to get us into

    and you know who says so, are you interested to learn exactly who is the source who reckons the iraq war cost exactly 709B---why, it's none other than mr elmendorf, the moderate and measured mathematician himself

    Little-known fact: Obama's failed stimulus program cost more than the Iraq war | Washington Examiner

    the cbo also, you recall, assured us all that obamacare would save us 100B

    even the interest groups have conspicuously scuttled that pitch

    Dems retreat on health care cost pitch - Ben Smith - POLITICO.com

    the white house, too---don't talk health care, leadership demands of its candidates

    Democratic candidates ignore legislative successes - latimes.com

    to be fair to mr elmendorf, it is rather difficult to forecast the gdp in 2020 merely by reading entrails

    but wasn't obamacare passed just a few months ago?

    ie, that was fast

    meantime, michael bennet says---trillions spent, NOTHING TO SHOW FOR IT

    Yahoo! Message Boards - General Electric Company (GE) - Dem Sen: Trillions in Debt, 'Nothing to Show for It'...

    ouch

    do you know michael bennet?

    why would he say such a thing?
    Last edited by The Prof; 08-26-10 at 12:55 AM.

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    Quote Originally Posted by texmaster View Post
    The report notes, however, that the Recovery Act's effect on output will gradually diminish during the second half of 2010. The law's effect on employment and unemployment will wane gradually in 2011 and beyond.

    Funny how that was left out of the OP.
    Why? It's obvious that such an outcome would happen. Don generally doesn't post the blatantly obvious. Just as Reagan cut military spending down, the impacts from decreased federal outlays reduce activity. What's funny is you thinking that what you posted is ground breaking.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Stimulus Boosted Jobs in 2nd Quarter, CBO Says

    There's a significant difference between saying:

    The Stimulus was a success
    The Stimulus had a short term positive affect
    The Stimulus had a positive effect
    The Stimulus had a short term positive affect but not worth the long term potential damage
    The Stimulus did some good but was inefficient
    The Stimulus did some good but could've been done in a better fashion

    All of those acknowledge what is basically said there, "Hey, if you look at last year and compare last year with stimulus and without, with would've been better", but as you diverge from that there's a lot of different ways it can go.

    I think those saying that its done NOTHING good are being a bit ridiculous, I also think though often times people are using exaggerated hyperbole when they say the Stimulus has done nothing good where in reality they're saying their overall view (including efficiency, long lasting effects, etc) of it is negative.

    Personally, I'm in that later half of those above.

    Now I do have a question for Don in regards to his list he posted, specifically concerning the tax cuts:

    Two-year tax cuts for lower- and middle-income people: 1.05
    Extension of first-time homebuyer credit: 0.55
    One-year tax cut for higher income people: 0.40
    Corporate tax breaks: 0.20

    What is the "spending" part of this equation for these things? Its obvious with transfer payments, the government is GIVING people money. However the government isn't "spending" anything by not taking additional money, so what is this .20 or .40 or 1.05 coming from in relation to the [spending] * 1.5 equation?

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