According to a new report out of the Obama administration, the number of jobs "created or saved" comes to about 650,000. A stunning success you say? Well slooooooow down their pardner...those 650,000 jobs cost $150,000,000,000 or for those of you who are mathematically challenged the bargain price of approximately $230,000 per job "created or saved".

Stimulus creates 650,000 jobs - White House says - Oct. 30, 2009

The stimulus has failed by every conceiveable measure.

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"It's a good feeling to shoot a bad guy. Something you democrats would never understand. Americans are homesteaders, we want a safe home, keep the money we make, and shoot bad guys!"

----Denny Crane

Libs have some big balls.

Hey we committed to spending 3.5 trillion dollars and lost 7 million jobs over the last year.

This is a fucking insult.

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Sic Semper Tyrannis






http://www.myspace.com/swoop187muzic

first; since when is 650K a million? Talk about rounding for advantage...

and this is the best, I looked and surprise, even CBS, yes CBS, NOT Fox, let me make that point again NOT FOX, is questioning the credibility of these numbers and accounting ....hummmmm..



YouTube - CBS: Administration's Trillion-Dollar 'Stimulus' Claims "Hard to Believe"

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"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

‘Jobs Created or Saved’ Is White House Fantasy: Caroline Baum

Commentary by Caroline Baum



Oct. 28 (Bloomberg) -- Heresy, thy name is Christina Romer.

Last week, the chairman of President Barack Obama’s Council of Economic Advisers -- a position that carried the title “chief economist” until Larry Summers took up residence in the White House -- testified to the Joint Economic Committee on the economic crisis and the efficacy of the policy response.

Here’s the executive summary in case you missed it:

The crisis: “Inherited.”

The economy: “In terrible shape” (the inherited one).

The shocks to the system: “Larger than those that precipitated the Great Depression.”

The policy response: “Strong and timely.”

The efficacy of the policy response: a 2 to 3 percentage point addition to second-quarter growth; 3 to 4 percentage points in the third; and 160,000 to 1.5 million “jobs saved or created,” a made-up metric if there ever was one. (More on that later.)

What was most puzzling about Romer’s Oct. 22 testimony was her comment on the waning effect of fiscal stimulus.

“Most analysts predict that the fiscal stimulus will have its greatest impact on growth in the second and third quarters of 2009,” Romer said. “By mid-2010, fiscal stimulus will likely be contributing little to growth.”

At first it was just fringe elements, such as conservative blogs and the not-really-a-news-organization Fox News, that pounced on Romer’s statement. Then other news outlets started to question her statement, which seemed to fly in the face of White House assertions that only a small portion of the stimulus -- $120 billion, or 15 percent -- has actually been spent. Most of the criticism of the stimulus coming from the president’s own party has been, “too little, too late,” and here’s Romer saying it’s kaput.

Thanks for That

Instead of being banished to the woodshed, Romer was consigned to the White House blog, where she slipped into professorial mode to explain the arcane distinction between the effect of the stimulus on the change in gross domestic product and its effect on the level of GDP.

Stimulus has its biggest impact on the growth rate of GDP when it’s implemented, Romer said, using a car-and-driver analogy: Step on the accelerator, the car goes from zero to 60.

Stimulus will keep the level of GDP and employment higher than they would have been even after the growth-rate effect fades, she said.

Her logic is impeccable. It’s her premise that’s flawed.

Dispensing Lucre

When the government distributes lucre or loot, people spend it. If your interest is national income accounting, spending other people’s money is great. Spending is a back-door way for government statisticians to measure what matters, which is the real output of goods and services.

But the government has no money of its own to spend; only what it borrows or confiscates from us via taxation. Oops.

“Government job creation is an oxymoron,” said Bill Dunkelberg, chief economist at the National Federation of Independent Business. It is only by depriving the private sector of funds that government can hire or subsidize hiring.

That’s why “jobs created or saved” is such pure fiction. It ignores what’s unseen, as our old friend Frederic Bastiat explained so eloquently 160 years ago in an essay.

Econometric models synthesize all sorts of variables and spit out a GDP forecast. From there they derive the change in employment using something called Okun’s Law, named after the late economist Arthur Okun, which describes the relationship between the two.

Fiction Lags Reality

Actual hiring seems to be lagging behind the model’s land of make-believe. For small businesses, which are the source of most job creation in the U.S., the government’s increased and changing role in the economy isn’t a confidence builder. Businessmen have no idea what health-care reform will mean for their cost structure or what whimsical tax policies the government might impose when it realizes those short-term deficits are running into long-term unfunded liabilities.

No wonder capital spending plans were at an all-time low in the third quarter, according to the NFIB monthly survey.

Only 30,383 jobs were created or saved by the American Recovery and Reinvestment Act, according to Recovery.gov, the government’s once-transparent Web site that has become a complex blur of numbers, graphs and pie charts. These are only the jobs reported by federal contract recipients. The Obama administration will report the larger universe of ARRA-related jobs on Oct. 30.

An extrapolation of what would have happened without the fiscal stimulus isn’t much consolation to the 9.8 percent of the workforce that is unemployed. Nor is Romer’s prescription for the economy and labor market very comforting in light of the trillions of future tax dollars that have been spent, lent or promised by the federal government.

“If you take your foot off the gas, the car goes from 60 back down to a slow crawl,” Romer said in clarifying blog post.

?Jobs Created or Saved? Is White House Fantasy: Caroline Baum - Bloomberg.com

This sums it up a little better.

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http://www.BHOCOUNTDOWN.com



"A political party cannot be all things to all people. It must represent certain fundamental beliefs which must not be compromised to political expediency, or simply to swell its numbers." -Ronald Reagan

Additionally, the stimulus packaged distributed funds using block grants to states, and the states have utilized those funds to camouflage budget gaps that would inevitably forced the state to layoff their employees.

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but those are 'saved ' jobs says Joe....

I heard some blurbs where in some jobs have cost way over the 24K the WH says is the real number, they call the 230K number calculator absue... Anyway they had a litany of jobs that actually cost millions.....

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"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

Infrastructure isn't like it was during FDR's days. You don't send out a crew of men with picks and shovels to build roads and bridges anymore. Labor costs as a percentage of costs have come way down, thankfully. But, it does give you less bang for the buck.

OTOH, government jobs are more easily supported, and a "quick fix".

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Giving money and power to government is like giving whiskey and car keys to teenage boys. ---P. J. O'Rourke

I wouldn't have even published this paltry statistic.

The economy is frozen. Money isn't flowing through the whole system, it's pooling in places where it isn't doing anything to get people back to work. You could give money to businesses, but there's no guarantee that they would use that money to retain workers, or hire new ones; and why would they unless they have the work to justify those jobs. Job creation is tied to consumption, and without consumption, there's no demand, without demand, jobs are lost, and businesses fail.

What I think the government should have done, is to take all public debt that was chopped up into credit swaps and whipped it off the books, and pumped money into FDIC, and raised the insurance limit. Then seized all assets of the institutions and their officers who created the financial products that caused this collapse, and replaced their leadership with federal regulators to clean house. Then tax capital gains from stocks at 100%, and in exchange issue bonds with a 5-10 year maturity at the full value of the capital gains. Allowing those bonds to be bought and sold in the bonds market for people who need the money sooner. In other words, a consumer bailout.

At the same time reform the banking and credit industries, to prevent this from happening again. Putting rules in place that will prevent people from getting into debts above a certain percentage of their annual income.

Would this hurt, yes it would. But I believe that all focus should be given to the demand side of our economy, because without it, there is no economy.

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"Shake off all the fears of servile prejudices, under which weak minds are servilely crouched. Fix reason firmly in her seat, and call on her tribunal for every fact, every opinion. Question with boldness even the existence of a God; because, if there be one, he must more approve of the homage of reason than that of blindfolded fear."

-Thomas Jefferson

Yeah, go ahead and kill all the investment that would go into rebuilding the economy. Brilliant idea.

That's the kind of thing they do in Communist nations.

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"I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic." - Senator Hillary Rodham Clinton April 28th, 2003

Carolina Politics Online

HOPE AND CHANGE

uhm, not quite;when you raise the FDIC ins. converge you inadvertently create more chances for banks to take risks and gambles as they use the expanded gap for secured money to offset the newer risk…..The Fed made that mistake crisis in the 80’s.

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"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

The stock market overvaluation was part of this mess. And Wall Street Decisions result in way more lay offs than job creations.

And here in the US, we reward the criminals who screwed us over.

I am an employer--business has to have demand or work before they are going to hire or retain workers. I had to laugh at Harry Reid--offering tax credits to employers that hire. Hire--hire for what. To sit around & twiddle their thumbs---

What the government should have done with the stimulus money is give business aka corporations a nice tax credit to expand their businesse's.

This administration started off on the wrong foot. Continually attacking the job creators of this country with continual threats of raising anyones taxes that made over 250K. 70% of these people are small business people--who will not expand their business--or hire for fear of a higher tax bracket. It's hard enough to keep a small business in black ink--they don't want the federal government all over them if they meet this 250K figure.

They should have lowered the corporate tax rate--which would have encouraged small business to borrow-expand & hire.

This is a great example of Reaganomics vs. Obamanomics. Trickle down economics has worked time & time again to get this economy moving. Obama's plan of building from main street up or flooding the basement is clearly not working.

There has never been a poor person that has employed another poor person.

Lowering all taxes would help, and allowing more liberal cap ex rules, if not allowing full deduction of capital expenditures would, no doubt in most minds, stimulated the economy.

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Giving money and power to government is like giving whiskey and car keys to teenage boys. ---P. J. O'Rourke

There was a report on FOX this morning - showing numerous examples of claims of "jobs saved or gained" - that were bogus.
It isn't worth the paper it is written on

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The government cannot give without first taking.

Are you questioning the WhiteHouse?

Why would the Administration lie to us?

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Government Should Fear the People That Voted Them In!!

New Government=one that the President likes a GOP idea but then the Staff puts that Idea in a very DEEP HOLE.

Read HR143 get enlightment.

The Revolution Will not be Televised