Posted on 02/23/2010 1:12:28 PM PST by NormsRevenge
WASHINGTON – The economic stimulus law added between 1 million to 2.1 million workers to employment rolls by the end of last year, a new report released Tuesday by congressional economists said.
The nonpartisan Congressional Budget Office study also said the $862 billion stimulus added between 1.5 to 3.5 percentage points to the growth of the economy in 2009. The controversial stimulus law combined tax breaks for individuals and businesses with lots of government spending.
The report reflects agreement among economists that the measure boosted the economy. But the wide range of estimates means it won't resolve the debate over how effective the stimulus has been.
The White House says the stimulus bill has created 2 million jobs and will add another 1.5 million this year as economic recovery continues to take hold.
(Excerpt) Read more at news.yahoo.com ...
The real numbers will sneak out by a revision in a week or so and be completely ignored by the MSM. THis is already an established pattern with this administration. Luckily, I don’t think they are fooling anyone except those that want to be fooled.
“Luckily, I don’t think they are fooling anyone except those that want to be fooled.”
There are none so blind...problem is we still got a LOT of blind.
added between 1 million to 2.1 million workers to employment rollsThe author forgot the "un" in front of "employment". Thanks NormsRevenge.
Let’s see - we spent $862 billion and got 2.1 million jobs and 9.7 % unemployment.
Hell, we should’ve spent $1,724 billion and then we could’ve gotten 4.2 million jobs . . . and 19.4% unemployment.
“There are none so blind...problem is we still got a LOT of blind.”
I know, way too many.
Let’s be fair... Obama created jobs, he actually created three: one in VA, one in NJ, and one in MA...
862 billion to hire 1.2 million people. Something like 700K per person.
And they want to run health care.
Where do these maroons come up with such nonsense?
Closer to $400,000. Still a very bad deal, but not as bad as you indicated.
They ask the wrong question. How many of these jobs will still exist 5 years from now? That is the question they should be asking.
When the government creates a job by spending money, they job only exists as long as the govt. is spending money. The spending ends and the jobs end. The stimulus bill is scheduled to be long over in 5 years, so any jobs created will be long gone.
A real stimulus (like deep, permanent cutting of business taxes) causes real growth in the private sector. Those are permanent jobs.
Give a man a fish and you feed him for a day; teach him to fish and you feed him for a lifetime. Govt. spending creates jobs for a day; business tax cuts create jobs for a lifetime.
In one year.
FUBO
If you want to read the tortured hand-waving, it’s available at http://cbo.gov . Hint, bring a barf bag.
1 million to 2.1 million jobs. It beats saying “we’re off by as much as 110%”, I guess. That is as high as $862,000/job if a person believes these numbers, which I don’t. 6% of GDP for a 1.5% return on jobs. We’d have been better off giving every US taxpayer $50k, untaxed, half of which must be spent in a year. At least that would stimulated private sector growth.
I call BS on the CBO.
There is no way to measure “created” or saved”.
However, for the purpose of argument, let's stipulate that porkulus did indeed "save" 2.1 million jobs.
Whose jobs were saved?
That would be 2.1 million unionized state, county or municipal employees.
Whoo-pee!
Bravo!....Sierra!!!
Yo tobyhill—You nailed it.
Meanwhile we also lost 8 million jobs last year...so apparently, without the stimulus we would have lost 10 million? Remarkable.
Other questions: Are those 2 million jobs permanent? Or do they involved digging ditches, filling them back, in, and repeating that process for the length of the temp assignement?
“The economic stimulus law added between 1 million to 2.1 million workers to employment rolls by the end of last year, a new report released Tuesday by congressional economists said.”
It also added billions of tons of wheat that would have been eaten by rats, saved us from 10 hurricanes and stopped the spread of athlete’s foot that, were it not for the stimulus, would have crippled millions of Americans.
oh, and it stopped an asteroid from hitting manhattan.
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