Effect of the stimulus
* Vice President Joe Biden on Friday: The stimulus "is responsible for over 1 million jobs so far."
* White House senior advisor Valerie Jarrett on Oct. 18: The stimulus "really staved off a disaster and we saved millions of jobs around the country."
* White House release June 2: "Just over 100 days in, over 150,000 jobs have been created or saved."
* White House senior advisor David Axelrod on June 7: "The stimulus itself has produced hundreds of thousands of jobs."
* Vice President Biden on June 2: The stimulus is "an initial big jolt to give the economy a real head start."
* Biden on July 26: The stimulus "was intended to provide steady support for our economy over an extended period -- not a jolt that would last only a few months."
Life span of stimulus
* Obama on Jan. 28, two weeks before passage: "Most of the money we're investing as part of this plan will get out the door immediately and go directly to job creation."
* Obama on July 11: "But as I made clear at the time it was passed, the [stimulus] was not designed to work in four moths -- it was designed to work over two years."
Jobs saved or created by the stimulus
* Christina Romer, Council of Economic Advisers chairwoman, on July 13 when asked if she knew the number of jobs that had been saved or created: "It's very hard to say exactly, because you don't know what the baseline is, because you don't know what the economy would have done without it."
* Romer and vice presidential advisor Jared Bernstein released a report Jan. 10 that included a graph titled, "Unemployment Rate with and without the Recovery Plan." The graph showed that with the stimulus, unemployment would not exceed 8%, and without it, unemployment would reach about 9%. Unemployment is now 9.8%.
* Bernstein on June 8 said of the report: "Looking back, it was clearly too optimistic."
I've been hard on the LA Times recently because it's part of the Mainstream Media - an organ of the Obama Machine. However they finally seem to be getting the picture.
19 comments:
LL, I'm soooo confused ....
A three month tax holiday would have gone to the people that make this economy grow .... US !
Gee, Amazing!! The L.A. Times gets something right!
The Obama administration is all about distorting the info to favor them. I don't think they know how to tell the truth unless its slips out of slippery Biden's mouth.
Don't give them too much credit. They are still part of the machine. They could make the case we need more stimulus.
These are still facts as presented by the administration. Has an independent investigator verified the facts? I don't trust them at all. Even the unemployment figures don't reflect those who have given up job hunting or are under employed.
What a crock
I'm with Opie and Arby... this administration seems to operate in spin mode.
I have never witnessed such a deliberate and hourly distortion of numbers, intent, motivation and honesty. When this rat's nest is finally destroyed and investigated, we will be shocked.
One of the things I've learned to do when investigating a money crime is:
1.) Follow the money- if you can
2.) Do the math- how much for what
3.) See who made profit
4.) Who lost the money
One of the math formulas I saw (this is basic math, nothing fancy)
showed that for each job, it cost $250,000
Now, to be fair, I'm still looking to see where the rest of the money went, because if they paid each new worker that much money, then I want one of those jobs.
I'm guessing, each new worker made less that $50,000 a year...so let's look for the rest of the money...
Dude, you have to wonder how many of those jobs went to dead people in Chicago.
Now I can rest. Obama has saved us from capitalism.
Nickie - I think that you hit on it. Most of those who seem to have received the "millions of jobs" must be the dead under the turf at Irving Park Cemetery (Chicago, IL) and Burr Oak Graveyard (Alsip, IL).
You have to give the Obama Administration. Never before in recent memory has full employment to zombies been offered in America.
Now Obama is famous for something other than merely being elected (the only thing he managed to accomplish thus far in his administration). Let's face it, only "a messiah from Chicago" could raise the dead, employ them, and PAY THEM from the US Treasury...
Odie - I would have been thrilled to see the US Congress vow to pass NO NEW LEGISLATION for six months and simply take a holiday. They could pass a national budget to keep the machine greased and funded, otherwise we would have been better served by having them do nothing but work on their golf games.
Their boss (Dear Leader) seems to have plenty of time for his golf game. If he simply stayed on the links, B. Hussein might go down in the history books as being a better president than Carter. However, I don't think that is to be.
they finally seem to be getting the picture
It´s not that they don´t get the picture. The problem is how they crop it, chop it and conveniently drop it when the picture they get doesn´t suit them.
They and the NYT's keep that up, and there will be no socializing of the media for them. Well, okay, there will be. But it won't be called a stimulus package! Ha, take them apples. /grumble
(Then again, perhaps the media (owners and bosses) looked at GM and are having second thoughts about a "bailout". The only way to achieve viable economic growth is to, well, start telling the truth and hope some will come back? Probably too little far too late though. Though I think bankruptcy or even closing the doors beats the bailout scheme.)
Mike, I agree. If the public resists an Obama "idea", the machine changes the name, rebrands it and serves it up again. Their plan includes a public fatigue factor.
I feel that the U.S. would be in a depression if the president didn't have the stimulus. Economies need money to work.
The latest number I heard was on Friday on the radio. Supposedly an official number and it was 650,000 jobs 'created or saved' by the stimulus.
That is a believable number and it sure isn't impressive.
But the Dems do simply and lazily pull numbers right out of their ass. The higher up you go, the more ass numbers you'll find. pelosi, biden, obama are well in the lead.
Kid, with that comment I've just "saved" you $20.
This ABC News article http://blogs.abcnews.com/politicalpunch/2009/10/160000-per-stimulus-job-white-house-calls-that-calculator-abuse.html puts it at about $160K per job created/saved taking af face value the WH's claim of $159B allocated as of 9/30 and 1M jobs created.
Such a wonderful ROI. Spend $160 on a job that at most pays $50K a year (I'm being generous) at most.
Now the WH claims that it is fuzzy math since by the end of the stimulus it will ONLY cost $92K per job.
I feel so much better and am so glad these guys and gals in the administration are much smarter than I.
Only the Federal Government could spend $160K of somebody else's money to pay somebody less than $50K per year.
Wait until they get their rat claws on healthcare.
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