Quote Originally Posted by clownboy
"Which is why the asshole liar we have as POTUS now is once again on my ****list. He promised during campaign his first priority would be addressing our failing infrastructure. Instead of the Obamacare nightmare he could have actually kept one of his promises.The administration's initial stimulus plan, the $787 billion package passed in February 2009, was designed to save or create about 4 million jobs."
"According to some third-party estimates, the White House may have come close to hitting that target, especially if you factor in the administration's bailout of the auto industry.
But the job losses in late 2008 and early 2009 ended up being much worse than expected. A total of 3.8 million jobs were lost from December 2008 through April 2009, an average of just over 750,000 a month.
By the time the job losses stopped a year after Obama took office, the Great Recession had cost the economy 8.8 million jobs, and the unemployment rate was stuck in the 9% to 10% range.
So even if estimates of more than 4 million jobs saved or created was correct, it was not nearly enough to get the job market back on track.
Dr. Mr. President: Business owners' jobs ideas
And many of the jobs created or saved through earlier efforts have now come to an end. Most of the public works projects, such as road repavings and bridge repairs, have been completed. Money given to states to keep teachers, fire fighters and police on the job has run out.
....The nonpartisan Congressional Budget Office estimates that the parts of the program that got the most criticism -- actual spending on projects and aid packages -- was the most effective in creating jobs.... the CBO estimates that at least 1.4 million jobs were created and saved by the direct spending alone, and that as many as 3.6 million jobs were produced while stimulus funds were being spent.
A separate study by Mark Zandi, chief economist of Moody's Analytics and an advisor to John McCain's presidential campaign, and Alan Blinder, a former Federal Reserve vice chairman and advisor to President Clinton, estimates that the stimulus act created about 2.7 million jobs. But the impact of stimulus has waned since last year.
"Stimulus is no longer playing a major role, but it was never intended to be the source of long-term growth," said Zandi. "It was supposed to fill a hole till the private sector stepped in."
And Zandi argues that the private sector is hiring again. He pointed out that businesses have added 2.4 million jobs since March 2010....."
Stimulus added jobs, just not enough - Sep. 8, 2011