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Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

yap, the nonpartisan congressional budget office says obama underestimated the numbers created or saved.
 
So do me and everyone a favor..... STFU about the stimulus.

Yes,I suppose pointing out crooked numbers is not in your best interest.



You obviously have nothing constructive to say.

So says the guy that did'nt post anything constructive :doh
 
we need a tax hike on the rich to pay for all the disabled vets.
 
Dilemma time, on the one hand we have something form (Bureau of Labor Statistics (BLS) official maintaining it's virtually impossible to glean such an estimate of the true impact of the stimulus.") from " earlier this year".

On the other hand we have a report from the CBO, that is from this week(current); now who to believe?

Myself, I will have to stick with the CBO report and relegate" earlier this year"to ancient history as for as economic reports go. :2wave:

From the CBO-

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output as of September 2009

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Limitations of Recipients’ Estimates

Recipients report that about 640,000 jobs were created or retained with ARRA funding through September 2009. However, such reports do not provide a comprehensive estimate of the law’s impact on employment in the United States. That impact may be higher or lower than the reported number for several reasons (in addition to any issues about the quality of the data in the reports). First, it is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package.

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CBO has also examined incoming data on output and employment during the period since ARRA’s enactment. However, those data are not as helpful in determining ARRA’s economic effects as might be supposed, because isolating the effects would require knowing what path the economy would have taken in the absence of the law. Because that path cannot be observed, the new data add only limited information about ARRA’s impact. Economic output and employment in the spring and summer of 2009 were lower than CBO had projected at the beginning of the year.



From the American Spectator-

On “Jobs Created or Saved” and the CBO

By Joseph Lawler on 12.1.09

Yesterday the CBO released, as mandated by the American Recovery and Reinvestment Act (ARRA, the stimulus bill), an analysis commenting on the reports filed by recipients of stimulus funds. I have argued in the past that interpretation of such analyses is difficult, and that the Obama administration's public interpretations have not demonstrated a corresponding level of exactitude. Now I see that the same left-of-center economists who dismissed my previous argument are presenting yesterday's CBO report as confirmation of their beliefs that the stimulus saved or created about 1 million jobs and that the administration is free to advertise "created or saved" numbers as if they could point to each specific job.

Nevertheless, I take yesterday's CBO report as affirmation both that 1) the number of jobs created by the stimulus cannot be determined without making judgment calls about the underlying economic model and that 2) the administration is on shaky ground when it claims to have evidence of hundreds of thousands of jobs created or saved.

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Here's how the CBO comes up with the employment numbers. Instead of trying to count the reported jobs and extrapolate from those numbers, they look at the total amounts spent by the government so far, and then estimate the effects of those expenditures using evidence from similar policies in the past and sophisticated macroeconomic models.

One key assumption in the stimulus’s formulation is that these government expenditures have a multiplier effect -- that they increase consumption and output both directly and indirectly. That means that each dollar the government spends or gives back as a tax cut not only raises the consumption of the worker employed using that dollar or the recipient of the tax rebate, but also raises the consumption of others as the recipients spend their extra money.

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The important thing is to note that the assumptions from these sources regarding multipliers and the effects of stimulus on employment and GDP have not changed since the CBO's February forecast (pdf) of the effects of the stimulus. The range of predictions generated using these models was a dismal failure: the low estimate of employment in the fourth quarter of 2009 without the stimulus was 142.4 million, and the baseline was 141.6 million. The latest BLS report put employment well below either of these numbers, at 138.2 million.

If the models underlying these assumptions could yield an initial prediction that was so far off the mark, why should we unquestioningly use the exact same models for the key assumptions in re-creating the counterfactual baseline, as CBO has done?

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so strucky doesn't want to help the disabled vets. supporting the troops.
 
yes i am.

I know you are,only a troll would tell a current member of the military that he doesn't want to support disabled vets and support the troops.
 
I know you are,only a troll would tell a current member of the military that he doesn't want to support disabled vets and support the troops.

so you say. so you support a tax hike to give the disabled vets decent service via the va?
 
Outgoing Herbert Hoover blamed President-elect Franklin Roosevelt for the deterioration of public confidence in the banks. Hoover had asked on several occasions for public declarations from Roosevelt that he would maintain balanced budgets and do all within his power to fight inflation — promises that would have meant more to the business and financial communities than to the millions of unemployed. Roosevelt refused to allow his future commitments to be pinned down, which left Hoover angry and anxious to be out of office.
 
Hoover, in fact, took an active role in trying to protect the economy through wage controls and job sharing. Hoover generally shared the economic theory that the stock market crash was a consequence of inequality of wealth and income. In November 1929, he met with industrialists and union leaders and negotiated a deal whereby industry agreed not to reduce wages and labor unions agreed not to strike. This later led to Hoover signing into law the Davis-Bacon Act, which required local governments to pay union wages on public works projects and the Norris-LaGuardia Act, which prevented courts from issuing injunctions against union strikes. Keeping wages artificially high limited employment opportunities such that by the end of 1931, the unemployment rate was 16% and growing

In 1929, Hoover authorized the Mexican Repatriation program. To combat rampant unemployment, the burden on municipal aid services, and remove people seen as usurpers of American jobs, the program was largely a forced migration of approximately 500,000 Mexicans and Mexican Americans to Mexico. The program continued through 1937.

Congress approved the Smoot-Hawley Tariff Act in 1930. The legislation, which raised tariffs on thousands of imported items, was signed into law by Hoover in June 1930. The intent of the Act was to encourage the purchase of American-made products by increasing the cost of imported goods, while raising revenue for the federal government and protecting farmers. However, economic depression now spread through much of the world, and other nations increased tariffs on American-made goods in retaliation, reducing international trade, and worsening the Depression.

In 1931, Hoover issued the Hoover Moratorium, calling for a one-year halt in reparation payments by Germany to France and in the payment of Allied war debts to the United States. The plan was met with much opposition, especially from France, who saw significant losses to Germany during World War I. The Moratorium did little to ease economic declines. As the moratorium neared its expiration the following year, an attempt to find a permanent solution was made at the Lausanne Conference of 1932. A working compromise was never established, and by the start of World War II, reparations payments had stopped completely.

Hoover in 1931 urged the major banks in the country to form a consortium known as the National Credit Corporation (NCC).The NCC was an example of Hoover's belief in volunteerism as a mechanism in aiding the economy. Hoover encouraged NCC member banks to provide loans to smaller banks to prevent them from collapsing. The banks within the NCC were often reluctant to provide loans, usually requiring banks to provide their largest assets as collateral. It quickly became apparent that the NCC would be incapable of fixing the problems it was designed to solve, and it was replaced by the Reconstruction Finance Corporation.

By 1932, the Great Depression had spread across the globe. In the U.S., unemployment had reached 24.9%,[45] a drought persisted in the agricultural heartland, businesses and families defaulted on record numbers of loans, and more than 5,000 banks had failed.[46] Tens-of-thousands of Americans who found themselves homeless and began congregating in the numerous Hoovervilles (also known as shanty towns or tent cities) that had begun to appear across the country. The name 'Hooverville' was coined by their residents as a sign of their disappointment and frustration with the perceived lack of assistance from the federal government. In response, Hoover and the Congress approved the Federal Home Loan Bank Act, to spur new home construction, and reduce foreclosures. The plan seemed to work, as foreclosures dropped, but it was seen as too little, too late.

Prior to the start of the Great Depression, Hoover's first Treasury Secretary, Andrew Mellon, proposed and saw enacted, numerous tax cuts, which cut the top income tax rate from 73% to 24%. When combined with the sharp decline in incomes during the early depression, the result was a serious deficit in the federal budget. Congress, desperate to increase federal revenue, enacted the Revenue Act of 1932. The Act increased taxes across the board, so that top earners were taxed at 63% on their net income. The 1932 Act also increased the tax on the net income of corporations from 12% to 13.75%.

The final attempt of the Hoover Administration to rescue the economy occurred in 1932 with the passage of the Emergency Relief and Construction Act which authorized funds for public works programs and the creation of the Reconstruction Finance Corporation (RFC). The RFC's initial goal was to provide government-secured loans to financial institutions, railroads and farmers. The RFC had minimal impact at the time, but was adopted by President Franklin D. Roosevelt and greatly expanded as part of his New Deal.

New Dealer Rexford Tugwell later remarked that although no one would say so at the time, "practically the whole New Deal was extrapolated from programs that Hoover started."

Link
 
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A congressional report released last month warned that rising caseloads of Iraq and Afghanistan veterans are overwhelming vet centers, undermining the quality and timeliness of care.

The number of veterans treated at vet centers for post-traumatic stress disorder more than doubled in a recent nine-month period, according to the report. Also, many vet centers responded to the rising workload by limiting services or establishing waiting lists.
 
A congressional report released last month warned that rising caseloads of Iraq and Afghanistan veterans are overwhelming vet centers, undermining the quality and timeliness of care.

The number of veterans treated at vet centers for post-traumatic stress disorder more than doubled in a recent nine-month period, according to the report. Also, many vet centers responded to the rising workload by limiting services or establishing waiting lists.

Provide a link.
 
Hoover's stance on the economy was based largely on volunteerism. From before his entry to the presidency, he was a proponent of the concept that public-private cooperation was the way to achieve high long-term growth.

from your link.
 
Hoover's stance on the economy was based largely on volunteerism. From before his entry to the presidency, he was a proponent of the concept that public-private cooperation was the way to achieve high long-term growth.

from your link.

He spent millions on public works projects.
 
Hoover's stance on the economy was based largely on volunteerism. From before his entry to the presidency, he was a proponent of the concept that public-private cooperation was the way to achieve high long-term growth.

from your link.

Wow....Talk about selective reading.
 
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