Thursday, October 22, 2009
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White House Economist: Impact of Stimulus Leveling Off
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Posted by:
Meredith Jessup at
3:37 PM
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Associated Press reports:
A top White House economist says spending from the $787 billion economic stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year.
Woah. I guess I blinked and missed the stimulus' "biggest impact." Did anyone else happen to catch a glimpse?
Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said Thursday that the $194 billion already spent gave a jolt to the economy that contributed to growth in the second and third quarters of the year. She told a congressional panel that by the middle of next year, the impact of the stimulus will level off. Romer said spending so far has saved or created 600,000 to 1.5 million jobs but warned that unemployment will remain high, above 9.5 percent, through the end of 2010.
I'm not sure how much of this I buy, especially since even CNN reported that the government doesn't know how to count money or jobs. Saved or created 600,000 jobs? At least 200,000 of those jobs are federal government positions!
So what do you think? Has the $787 billion stimulus do anything but grow the government?
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"The logic at work in this thread, though, is that your car ran out of gas in the middle of the desert, and the Lone Ranger came along and gave you some gas. Six hours later you point to the gauge reading "empty" and say, "See, Lone Ranger, you didn't do ANYTHING for me!"
The only problem with your analogy is that the Lone Ranger broke into my house and sold off all my possessions, kept 99%, and then used the pittance remaining to buy my tank of gas. Thanks for actual debate instead of name calling, good on ya! |
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The impact of the stimulus is definitely leveling off. Unquestionable, undeniable. When the white house is right, they're right. |
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"When you run out of gas in the middle of the desert it's time to stop fighting over who didn't fill the tank, stop lying about how much is actually in the tank and start figuring out how to survive the ordeal. Wake up libs, you are being played like the rest of us."
The logic at work in this thread, though, is that your car ran out of gas in the middle of the desert, and the Lone Ranger came along and gave you some gas. Six hours later you point to the gauge reading "empty" and say, "See, Lone Ranger, you didn't do ANYTHING for me!" |
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creatures of Captain Obumbles make these preposterous statements with straight faces! What kind of drugs are these people using in order to believe this nonsense? Thank God Captain Obumbles has surrounded himself with the "smart" people! |
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If it wasn't so sad it would be hilarious. What is even sadder is that liberals believe these lies. When you run out of gas in the middle of the desert it's time to stop fighting over who didn't fill the tank, stop lying about how much is actually in the tank and start figuring out how to survive the ordeal. Wake up libs, you are being played like the rest of us. |
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we probably shouldn't save teacher jobs. But, the stimulus has been a rousing success. It succesfully transferred the automobile and banking industries out of private hands. |
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they saved 10 million to 15 million jobs? That's just as believable as 600,000 to 1.5 million. And how could you be 900,000 off? |
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The idea that spending, any spending, will revive the economy. The economy is the production and distribution of things people actually want to buy. When the government spends, say $1 billion on new bridges, it has not created wealth, it has merely transferred funds from the populace at large to bridge contractors. There were no new shoes, pizzas, or computers made because of the transfer. |
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Just can't wreck this economy enough. This stimulus was a complete failure. Funny they claim how many teachers jobs they saved, Well what happens next year. The states will be in even worse shape than they are now. Perhaps if they had acted appropriately, lowered taxes, helped small businesses and created real jobs next year the states would be in much better shape and could actually pay their own bills. Instead they racked up a lot of debt and accomplished nothing. |
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These people know that they're lying.They know that we know that they're lying and they keep lying.
The only word that I read that was true in this article was devastate.Obama and the democrats with their socialist policies wrecked an already bad economy and destroyed any chance of small business to create jobs because the 787billion dollar stimu-less money went to unions,welfare and food stamps.
This administration and the democrats blew it by not taking care of the economy and not giving small business tax breaks needed to start creating jobs.Instead they took the 458billion dollar deficit that took Bush 8yrs to run up and turned it into a 1.46trillion dollar deficit in nine months.
The healthcare bill being proposed by Obama and the democrats is a multi trillion dollar debacle that's designed to kill the Free America we all grew up in.
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