Confirmed: Economists Agree Stimulus Was Largely a Bust
Posted by Jim Hoft on Monday, April 26, 2010, 6:05 AM
Barack Obama and Democrats tripled the national deficit in one year. They will likely top that this year.
And, stimulus bill did nothing to prevent the unemployment rate from soaring to 9.7%.
Even economists agree the stimulus did little to create jobs.
CNN Money reported:
The recovery is picking up steam as employers boost payrolls, but economists think the government’s stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday.
In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years — but a majority of respondents felt the fiscal stimulus had no impact.
NABE conducted the study by polling 68 of its members who work in economic roles at private-sector firms. About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act, which the White House’s Council of Economic Advisers says is on track to create or save 3.5 million jobs by the end of the year.
That sentiment is shared for the recently passed $17.7 billion jobs bill that calls for tax breaks for businesses that hire and additional infrastructure spending. More than two-thirds of those polled believe the measure won’t affect payrolls, while 30% expect it to boost hiring “moderately.”
The Pelosi-Obama Stimulus did nothing to create jobs but it sure did help the democrats in their districts.
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Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 79 Comments
Betsy Ross commented:
2 words:
cloward – piven
avery commented:
Of course the Stimus didn’t help the enonomints,it was a pay off to supports,like Seui,Acorns and other lot of the money went to pay Unions workers,
Bill Mitchell commented:
TWO BIG LIES OF THE LEFT PROPAGATED BY THE MSM:
1. Bush’s Tax Cuts caused the deficit.
2. The Stimulus caused the recovery.
daryl commented:
“but it sure did help the democrats in their districts.”
And it will help them again this next election (2010), and again the election after that (2012).
They did NOT pump the whole slush fund into the stimulus package in 2008.
And win or lose in any upcoming elections, the key players in this administration are fixed for life. They skimmed their part off upfront and off the top, unlike that crook Rangel and others, who had to get theirs over thirty or forty years the old fashioned way. A grand here and four grand there, adjusted for inlation of course. Got tuh have that cola.
daryl commented:
should read adjusted for “inflation” in that next to last sentence. I can’t spell for $**t when I’m p*$$ed.
Militant Conservative commented:
Post one got it right. This is about the destruction of the American economy to facilitate “Fundamental change”. Six months till we can non-violently fight back. IF that does not resolve this then you’d better have a plan B. I do. powder is dry.
Valerie commented:
…So, apparently is the Boobquake.
http://www.daybydaycartoon.com/2010/04/26/#005626
At least, I haven’t felt any tremors so far.
http://www.facebook.com/pages/Boobquake/115608248460905
Isn’t science fun? We’ve just disproved a fatwa.
Valerie commented:
One of the original criticisms of this huge spending bill was that spending could not be ramped up fast enough to affect the recession cycle, anyway. But now we’re to the point where we should be seeing better employment numbers IF THE SPENDING HAD BEEN DIRECTED TOWARD PAYING FOR MORE JOBS.
Sorry. I just had to shout a little. Malcompetence irritates me no end.
John Fembup commented:
The stimulus was a “bust” only if you swallow the notion that it was intended to be a stimulus in the first place.
My opinion: it was and is a legal political slush fund.
I think that was the intent frorm the beginning, and explains why so little of it was spent in 2009 (not an election year).
sliderblaze commented:
u mean to tell me that the straight up racists, hillbilly, bible thumpn, hate the black man teabaggers were right… whaaaaat.
Greg commented:
Its about time that the economists start showing the 2010 projection. The 2010 budget year is half over.
Tom Kubiak commented:
This is so frustrating. When are the American people going to wake up and take back ownership of this country? The Democrats have repeatedly proven they don’t know diddley squat about economics when they falsely profess that FDR brought this Country out of the Depression. Any idiot with a modicum of brains who can use deductive reasoning can see when they analyze history that FDR’s alphabet soup wasn’t the reason. It was simply World War II—that was the pivotal point for forging the energies of the country against a common enemy and resulted in our victory. It’s time for the American people to take a stand against this repeated nonsense, this idiocy being repeated over and over and voice your concerns to your elected officials who supposed elected to represent you but obviously haven’t. I, for one, am going to vote in November to regain some control over my destiny.
Finncrisp commented:
Just one clarifying point. Unemployment soared to 10.2%, then the Administration changed the statistical method of estimating unemployment. That statistical change made the 10.2% 9.7%, and we have sat there ever since. So basically uemployment remains over 10% by the old method of calculating.
It is no surprise that none of this stuff has worked; it was not supposed to work. One crisis after another, designed to manipulate us into socialist policies. So far, the only ones who have agreed to become socialists are the members of the Democratic party in Congress. And we shall prescribe tough medicine for their disease in November. We… Will…Bring… It…On as Barry has urged us to!
unbelievable! commented:
IMPEACH on grounds of fiscal insanity and an inability to speak truthfully – YOU LIE
DocScience commented:
The bribes given to Democrat friends were far exceeded by the damage done to everyone else.
The hope is that THIS time, the people in these corrupt districts will see what is going on and say NO.
kato commented:
It wasn’t a bust for the labor unions and the Section VIII parasites.
Nick commented:
This article is a lie, and the chart proves it.
2009, in budget terms, was not Obama’s yea, it was Bush’s. It began on October 1, 2008, more than a month before Obama was even elected, much less sworn in. The federal budget for FY 2009, which ended Sept 30 of last year, was largely passed before the end of 2008.
Furthermore, anyone who bothers can see that in January of 2009, just before Obama took office, the projection for the 2009 deficit was $1.2 trillion, a tripling of the FY 2008 deficit.
Its not as if you can’t make an argument without lying, can you?
Valerie commented:
Uuuh, Nick, you do realize that Obama was elected in 2008? And that enormous spending increases over and above any of the prior years were passed starting in 2009? And that big chunks of the money were committed in 2009?
So that your statement that the the budget for 2009 was “largely passed before the end of 2008″ is in fact false?
And charged in 2009? That was BO’s watch!
Shame on you.
Tom Kubiak commented:
You find them all over the place. They are the nonthinking idiots who elected Pres. Obama. Things are about to change.
RealConservative commented:
Don’t forget that other Liberal, George W Bush – he signed into law $700 billion for the ‘bailout’ and shoved the $1 trillion dollar Prescription Drug (welfare for old people) bill. The only way we will get the American people off the teat of socialist government is to demand that Social(ist) Security and Medicare (as well as that damn Bush Prescription Drug giveaway) be terminated. I’m with you Tea Party folks that want to wean us lazy Americans off of the Liberal government’s ‘hush money’. If we give every American just what they paid into SSI plus interest, we would halve the deficit in five years! Then we could cut all federal support to education and infrastructure, like bridges and roads. Eisenhower was no real Conservative and would have been booed at a Tea Party rally. Let the State and local governments raise their taxes if they need more funding. I, for one, will move to a state that has the lowest taxes – roads and other people’s kids are not my responsibility!!