But....
Showing posts with label stimulus. Show all posts
Showing posts with label stimulus. Show all posts
Thursday, December 17, 2009
Tuesday, December 8, 2009
New Obama Plans: 'Spend Our Way Out' Of Downturn...
WASHINGTON (AP) - President Barack Obama outlined new multibillion-dollar stimulus and jobs proposals Tuesday, saying the nation must continue to "spend our way out of this recession" until more Americans are back at work.
Without giving a price tag, Obama proposed a package of new spending for highway, bridge and other infrastructure projects, deeper tax breaksfor small businesses and tax incentives to encourage people to make their homes more energy efficient.
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Hey, here is a great idea: Why don't I pay off my credit card bills by taking out a home equity loan?
Wednesday, November 4, 2009
Well that's one way to count jobs...
The Georgia nonprofit's inflated job count is among persisting errors in the government's latest effort to measure the effect of the $787 billion stimulus plan despite White House promises last week that the new data would undergo an "extensive review" to root out errors discovered in an earlier report.
About two-thirds of the 14,506 jobs claimed to be saved under one federal office, the Administration for Children and Families at Health and Human Services, actually weren't saved at all, according to a review of the latest data by The Associated Press. Instead, that figure includes more than 9,300 existing employees in hundreds of local agencies who received pay raises and benefits and whose jobs weren't saved.
But officials defended the practice of counting raises as saved jobs.
"If I give you a raise, it is going to save a portion of your job,"
WTF??
Saturday, October 31, 2009
ABC: $160,000 Per Stimulus Job? White House Calls That 'Calculator Abuse'...
ABC: $160,000 Per Stimulus Job? White House Calls That 'Calculator Abuse'...
The White House argues that the actual job number is actually larger than 640,000 -- closer to 1 million jobs when one factors in stimulus jobs added in October " Vice President Biden said today.
So let's see. Assuming their number is right -- 160 billion divided by 1 million. Does that mean the stimulus costs taxpayers $160,000 per job?
Jared Bernstein, chief economist and senior economic advisor to the vice president, called that "calculator abuse."
It gets better...
Of the 640,329 jobs cited today, White House officials said 80,000 were in the construction sector and more than half -- 325,000 -- were education jobs, despite President Obama's claim in January that 90 percent of the stimulus jobs would be in the private sector.
Half the jobs saved were education jobs?? How does that stimulate anything?!!!
Friday, October 30, 2009
Thursday, October 22, 2009
7,000 Americans a day losing their lifeline
From CNN (a real news source)
7,000 Americans a day losing their lifeline
NEW YORK (CNNMoney.com) -- Another day, another 7,000 people run out of unemployment benefits.
One month after the House passed a bill extending unemployment benefits, the issue is still being debated in the Senate.
Democratic leaders in the Senate introduced a bill two weeks ago to lengthen benefits in all states by 14 weeks. Those that live in states with unemployment greater than 8.5% would receive an additional six weeks.
Senate Republicans, who twice objected to swift passage of the bill by unanimous consent, want to add several amendments. Their requests include paying for the increased benefits with stimulus funds rather than by extending a longstanding federal unemployment tax through June 2011
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And that is what happens when the "stimulus" contains handouts and not incentives. We can't keep spending money to extend the safety net indefinitely, at some point we need to incentivize growth and not sustain the safety net.
Wednesday, October 21, 2009
Stimulate this!
7 Months After Stimulus 49 of 50 States Have Lost Jobs
America Now Over 6 Million Jobs Shy of Administration's Projections
Wednesday, October 21, 2009
The table below compares the White House's February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs. To see how stimulus has failed your state, see the table below.
Good Work North Dakota!!
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