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Thread: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Goldenboy219 View Post
    The only ones who care what Obama predicted (i would love to see a link to his 4% annual real growth prediction) are his political opposition. Quarter 3 2009 had 5% real growth, which was entirely driven by stimulus spending. Now imagine a real stimulus package that focused on infrastructure in its entirety, in the tune of $1.5 trillion or more. There would be no need for QEII.
    Stimulus is a fail. A huge giant waste fail.

    Stimulus: Still Not Working! - Reason Magazine

    ........... The stimulus isn’t working because it is based on faulty economics. Using historical spending data, the Harvard economist Robert Barro and recent Harvard graduate Charles Redlick have shown that in the best case scenario, a dollar of government spending produces much less than a dollar in economic growth—between 40 and 70 cents. They also found that if the government spends $1 and raises taxes to pay for it, the economy will shrink by $1.10. In other words, greater spending financed by tax increases hurts the economy. Even if the tax is applied in the future, taxpayers today adjust their consumption and business owners refrain from hiring based on the expectation of future tax increases, which worsen the economy today.

    There are other reasons the stimulus bill has hurt rather than helped the economy. Four of every five jobs reported “created or saved” are government jobs. That’s far from the 90 percent private sector jobs the administration promised. Also, the Department of Education claims it has “created or saved” at least seven jobs for every job “created or saved” by any other agency. In other words, federal stimulus funds have been used to keep teachers on state payrolls. By subsidizing public sector employment, the federal government is getting in the way of addressing the issue of overspending in the states.


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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    Yes, that is normally what happens when a recession ends, the economy grows. The recession ended in June 2009 yet the economy continues to flounder as evidenced by the current economic growth and job creation. Compare the economic results after the recession ended in June 2009 to the economic results after other recessions ended. Obama leadership led to these meager results and why he was shellacked on Nov. 2. Results matter more than rhetoric. Obama lied and the American people woke up.
    This recession was by far the most severe and serious of any business cycle since 1933. link Consumer deleveraging will continue to persist well into 2011. You cannot say that about "other recessions".
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Eighty Deuce View Post
    Stimulus is a fail. A huge giant waste fail.
    $253 billion was not a proper stimulus. The Chinese were the first to get the memo, enacting a fiscal stimulus at about 10% of GDP. Would you agree that political pressures prevented a proper stimulus package?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Goldenboy219 View Post
    This recession was by far the most severe and serious of any business cycle since 1933. link Consumer deleveraging will continue to persist well into 2011. You cannot say that about "other recessions".
    Disagree, we had a much different economy in 1933 than we have today with much less population thus less people affected. The 1980 recession was worse due to the affect it had on the American people. Interest rates were over 20% and foreclosures were worse than now because people couldn't make their payments. That isn't the point however nor is that the thread topic. Barack Obama claimed that his stimulus plan would create or save millions of jobs when the real numbers is we have lost 4 million jobs since that stimulus plan was implemented. We need over 4% economic growth to affect employment and we have hit that number once in two years. the obama economic plan was a failure, the stimulus plan was a failure and the American majority woke up on Nov. 2.
    Last edited by Conservative; 11-16-10 at 10:44 AM.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    Disagree, we had a much different economy in 1933 than we have today with much less population thus less people affected. The 1980 recession was worse due to the affect it had on the American people. Interest rates were over 20% and foreclosures were worse than now because people couldn't make their payments. That isn't the point however nor is that the thread topic. Barack Obama claimed that his stimulus plan would create or save million jobs when the real numbers is we have lost 4 million jobs since that stimulus plan was implemented. We need over 4% economic growth to affect employment and we have hit that number once in two years. the obama economic plan was a failure, the stimulus plan was a failure and the American majority woke up on Nov. 2.
    The Obama plan was a failure; it was far too small in scale to deal with the recession in its entirety. China enacted a fiscal stimulus of $580 billion in November of 2008, focused on infrastructure, reconstruction, and technological advancement. Something tells me we blew it big time.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by SE102 View Post
    The job market is in the pooper. Job creation in the US during the bush years was mostly minimum wage BS. Now this. /meh
    I agree. But I did learn yesterday that not only was our state ranked number three under a democrat governor (something I knew), but actually more people are back to work this year and tax revenues are better than expected. Good thing they threw him out. The incompetent jerk.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Boo Radley View Post
    I agree. But I did learn yesterday that not only was our state ranked number three under a democrat governor (something I knew), but actually more people are back to work this year and tax revenues are better than expected. Good thing they threw him out. The incompetent jerk.
    First of all, neither of you have a clue as to what kind of jobs were created during the Bush years but continue to buy the liberal rhetoric. All you need to do is go to BLS.gov to find out but that would take too much effort.

    Then you tout the accomplishments of your Democrat Governor. Interesting that you give your Democrat Gov. credit for creating jobs but blame President Bush for not creating jobs so which is it? So apparently Bush lost jobs but your governor created them?

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    First of all, neither of you have a clue as to what kind of jobs were created during the Bush years but continue to buy the liberal rhetoric. All you need to do is go to BLS.gov to find out but that would take too much effort.

    Then you tout the accomplishments of your Democrat Governor. Interesting that you give your Democrat Gov. credit for creating jobs but blame President Bush for not creating jobs so which is it? So apparently Bush lost jobs but your governor created them?
    Yes, I know, Bush was God, and all problems were someone else's fault. I got that.

    Moving on.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Boo Radley View Post
    Yes, I know, Bush was God, and all problems were someone else's fault. I got that.

    Moving on.
    don't see a response to my post. Where in BLS.gov does it show that most of the jobs created during the Bush years were minimum wage jobs?

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Boo Radley View Post
    I agree. But I did learn yesterday that not only was our state ranked number three under a democrat governor (something I knew), but actually more people are back to work this year and tax revenues are better than expected. Good thing they threw him out. The incompetent jerk.
    Guess you better tell the Bureau of Labor Statistics they got it wrong

    Bureau of Labor Statistics Data

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