Posted on 02/19/2010 5:57:29 PM PST by JohnRLott
On Wednesday, Fox News Channel’s Bill Hemmer interviewed Austan Goolsbee, the chief economist for the White House Recovery Board, on the one-year anniversary of the stimulus.
Here is a simple fact check of Mr. Goolsbee's claims:
Hemmer: "What does the White House predict a year from now?"
Goolsbee: Let’s remember, you’re citing the claim that the unemployment rate wouldn’t go above 8 percent, but if you remember in that same projection they said that if we didn’t pass the stimulus it would only go to 9 percent, and it was above that before the stimulus even came into effect. What the administration and everyone else missed was the depth of the recession that was in place at the end of 2008 and at the beginning of 2009 when the President came into office.
In April, President Obama was busy touting the stimulus as having "already saved or created over 150,000 jobs." Press releases from the administration were already being sent out claiming saved jobs on April 1. Even well before that, on January 25, Lawrence Summers, Obama's chief economic adviser, promised that the benefits from the stimulus bill would be seen "within weeks" after passage. Yet, despite Mr. Goolsbee's claim, the unemployment rate did not rise above 9 percent until May, well after these claimed jobs were supposedly being created. . . .
(Excerpt) Read more at foxnews.com ...
be fair...count jobs that might have been lost....i want to know exactly where the money is that they spent and what they intend to do with the rest of the first stimulas
As the late Clara Peller would shout “Where’s the money?”
As I would shout, “Where are the jobs”?
/
It’s all BS.
THAT’s the facts.
Even if one accepts the mythical ‘2 million jobs created or saved’ estimates, that fails to recognize the impact to the private sector from all the government borrowing., i.e. the jobs lost because the private sector can’t get funding.
Administration spokepersons often cite lack of credit for small business as a key factor keeping the brakes on hiring. What they fail to recognize is that the massive borrowing required to support the deficit along with near zero Fed rates sets up a scenario where there is little reason for banks to make commercial loans. The federal government is sucking up a huge chunk of all available credit and the banks are perfectly willing to buy the bonds with cheap Fed money and cash in on the spreads rather than make riskier commercial loans.
Since President Obama and his advisers have pulled the 2 million number out of thin air, I think we should respond in kind by pulling a jobs lost number out of thin air. Something like, the lack of credit caused by deficit borrowing related to the Recovery Act has caused 4 million jobs to be lost or not created.
Wanna hint
Redistribution -
We'll never see it here again. Not being used for ending here in the US. There are reports of it being shuffled to overseas banks...?
and now our Space Program dollars are, it looks, going to be diverted to the Muslims in Indonesia - and other Muslim countries. Nobody thought to question why, on the heels of his Hawaii vacation, he's soon off to Indonesia for "a vacation.." ?
Will America please pick up the courtesy phone...
He promised redistribution - He's scolded us for being too rich and warning we can't continue to live to way we do (did?) but that we had to ‘share’ with other peoples in other countries “You can't have your thermostat on 72...you can't eat all the food you want to” (While he has the oval office set on 77 and eats Kobe beef)...
Redistribution - that's the watchword...Our money is being taken directly out of our pockets and going mostly out of country. It will be forever gone - if we don't stop the bleed NOW...Take Bayh’s advice: “Vote ‘em all out”
The liberal claim is a bunch of Hooey.... Look what I want someone to say to Obama is,
Mr. Obama, isn’t your jobs saved or created matrix a little bit like saying that because George W. Bush invaded Iraq, removed Saddam Hussein and set up the conditions for a Democratic society there that George W. Bush, saved many millions of lives both of Iraqis that Saddam would have murdered and potentially Americans that Saddam would have eventually murdered if he had followed the same tactics as Al-Qaeda had?
In other words you want us to believe in your matrix that you cannot possibly prove and yet you won’t give credit to the prior administration by using the same type of unprovable matrix....
Bravo!
well said Mr.Lott.
Obama rates a Zero. Thanks JohnRLott.
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