WH: Stimulus May Have Created 3.6 Million Jobs

2011 July 1
by bc3b

Why not 10 million?

This thread actually could use a laugh track. Once again the Obama administration proves that no lie is too big and once again MSM will demonstrate that it will not challenge Barack Obama no matter how outlandish the lies he and his administration tells.

A White House report released Friday said the 2009 stimulus bill raised GDP by as much as 3.2 percent in the first quarter of 2011.

The report from the White House Council of Economic Advisers said the stimulus added 2.3 to 3.2 percent to gross domestic product in the first quarter relative to what it otherwise would have been.

The stimulus package also increased employment relative to what it otherwise would have been by between 2.4 and 3.6 million jobs, the report said.

Obama and Republicans have butted heads over the effectiveness of the stimulus, which was estimated to cost $787 billion when enacted.

Republicans, pointing to the latest report that unemployment rose again to 9.1 percent in May, claim it was a waste of money that did nothing to slow the recession. Obama maintains that the economy would be in worse shape without the stimulus.

The report credits the stimulus with positively changing “the trajectory of the economy” starting in the third quarter of 2009 and continuing through the first quarter of 2011.

Hat tip: The Hill

Even if this outrageous claim was true, that would be a cost in excess of $218,000 per job – an awful lot for someone to say, “Can we super-size that value meal?”

38 Responses leave one →
  1. 2011 July 1 4:07 pm
    [1]
    judyt2009 permalink

    Wow… I realize there are a lot of Obambots roaming the goverment halls, I did not realize he hired that many.

    This is the art of lying… the bigger the lie the more likely some idiots will believe it.

  2. 2011 July 1 4:39 pm
    [2]
    justrand permalink

    3.6 millions jobs…Hail Obama!!

    and, an asteroid has not smashed into the Earth since he has been President destroying all life…Hail Obama!!

    A wondrous thing this Age of Obama!

  3. 2011 July 1 4:48 pm
    [3]
    JustMary permalink

    I wasn’t exaggerating about the dems wanting to end 4th of July celebrations. Baby steps.

  4. 2011 July 1 4:57 pm
    [4]
    JustMary permalink

  5. 2011 July 1 4:58 pm
    [5]
    gnqanq permalink

    They, the government can report anything they want BUT it does not make it true. You can report rosy numbers, but for the millions who can not find work, all they find is the thorn.

    Reading the comments from the link Jan had to “NO Quarter”, you know it is bad out there with no jobs in sight. One thing that is over looked is the numbers coming out of high and college who can not find work. Those numbers just fall off without being registered.

    I have been thinking about the mess we are in and there is no fix in sight. It took years to get here and I am afraid it is going to take years to get out.

    I laughed when I saw one article talking about how Housing has led us out of past recessions but not this one. What did you expect, we over built, had people who had no business owning and now we are entering a phase where the baby boomers want to down size. Economically, we have greater supply than demand. And it is going to take years to clean up the over supply.

    Now the really bad news. I have been thinking of our (nation) relationship with God. Since the mid 1960’s to the present we have done everything possible to diss God. As the old saying goes – “Pay back is a bitch” – does not even touch it. In the Old Testament, when Israel wandered from God, often God would rebuke them by destroying what they found security in or what they considered their God.

    Well, if we look at our nation and our world, for most people their security and their God is their money and securities. Look at what is happening to them before our eyes. If God was present today, he might ask – “Where is your security and salvation NOW. Can your money and securities save you now?”

    As this day draws to an end, all I can say is “Thank you God”. For what I have is due to your generosity and grace, NOT in anything I have done or earned. As the storm rages around, I know my God and savior will not forsake me EVEN if the storm consumes me. I just need to stay focused on you God, for all else is immaterial and temporal.

    God will take care of us and God will take care of the Obama’s of this world. And right now, I like our position a lot better than I do Obama’s or the dolts who follow him.

  6. 2011 July 1 5:03 pm
    [6]
    JustMary permalink

    The next job number story will read: Obama, in all his infinite wisdom, hath created eleventy bazillion jobs! Might as well.

  7. 2011 July 1 5:30 pm
    [7]
    justrand permalink

    eleventy point two bazillion, to be precise!!

  8. 2011 July 1 5:31 pm
    [8]
    bc3b permalink

    GN –

    They, the government can report anything they want BUT it does not make it true.

    Unfortunately, Pbama and his minions know they can lie with impunity without being challenged by the media.

  9. 2011 July 1 5:57 pm
    [9]
    MI Conservative permalink

    I created one job this last month.

  10. 2011 July 1 6:00 pm
    [10]
    JustMary permalink

    #9 MI for president! Though in keeping with the thread, I have to FIFY:

    I created one hundred thousand jobs this last month.

  11. 2011 July 1 6:04 pm
    [11]
    justrand permalink

    yes, MIC…please translate your numbers before posting them! 🙂

  12. 2011 July 1 6:10 pm
    [12]
    judyt2009 permalink

    From no less authority than the NYslimes

    Extending them for the next 10 years would add about $3.8 trillion to a growing national debt that is already the largest since World War II. About $700 billion of that reflects the projected costs of tax cuts for those in the top 2 percent of income-earners.

    Again, liberals are bad at math so I’ll help them out. $3.8 tillion a year over 1o years is $380 billion year. Now out of the $3.8 trillion, $700 billion is the projected costs(?— how can the government not taking more of a citizens income be a cost?) But this means that the annual “cost”, potential increased tax revenue works out to $70 billion a year.

    Let me repeat that…taxing those 2% of top earners at the tax rates Clinton left would contribute $70 billion a year. This is the NYT folks. The lion’s share of the tax cut impact came from the remaining 98% of taxpayers.

    Obama is running $1 trillion dollar annual deficits. That $70 billion would not even cover the deficit for one month. Okay that is 7% of the shortfall, what about the other 93%.

    There is a second point. From 2003 to 2007 the economy increased by 7 million jobs. (can’t find my table — but it is the Bureau of Labor statistics annual employment numbers)

    So those 7 million jobs “cost” $3.8 trillion in revenues or $542.00 each. $542 dollars is a long way from $218,000. Those 7 million jobs were already verified by BLS and are not “employment relative to what it otherwise would have been”.

    Well employment what otherwise would have been must be the same thing as SAVED jobs. I guess “saved” jobs is polling somewhere between laughable and full derision.

  13. 2011 July 1 6:11 pm
    [13]
    judyt2009 permalink

    I created 40,000,000 jobs last month. But then I fired all 40,000,000 workers because they did not show up.

  14. 2011 July 1 6:22 pm
    [14]
    janzam permalink

    I wanted to find and post some ‘good’ news for today. And, here is what I found.

    Gov. Kasich, like our good Gov. Brown, here in CA, signed a new budget into law, that goes into effect today. Similar to Brown’s budget only one party was on board, too — only the republicans signed on. Absent were any democratic votes. Why? Because, unlike the CA budget Kasich made definitive cuts and placed incentives for small business in his budget.

    The budget, which did not receive a single Democratic vote during its final passage this week, includes major changes and cuts to Ohio’s schools, local governments, nursing homes, prisons, and development departments.

    It addressed what began as an $8 billion deficit without raising state taxes, and includes tax breaks such as the elimination of the estate tax in 2013 and a tax credit for those who invest in Ohio companies.

    Read the rest….

    Gov Kasich signs a ‘New Day’ budget for Ohio

    gnganq, aren’t you from Ohio?

  15. 2011 July 1 6:32 pm
    [15]
    janzam permalink

    bc,

    What do you know about Thaddeus McCotter, who is from Michigan? Apparently, he has joined the presidential fray of GOP hopefuls.

  16. 2011 July 1 6:44 pm
    [16]
    MI Conservative permalink

    I know he better go by Ted—No one is going to vote for someone named Thaddeus.

  17. 2011 July 1 6:49 pm
    [17]
    justrand permalink

    I personally created 2,333,657.045 jobs!!! Top THAT Lord Obama!

    p.s. the “.o45” was someone who only showed up for the interview…but I wanted to give them credit!

    The Age of Obama…math be damned!!

  18. 2011 July 1 6:56 pm
    [18]
    janzam permalink

    MI

    My grandfather’s name was Theodore, which sort of reminds me of the name “Thaddeus.” So, I guess I have a soft spot for old-fashioned names. But, ‘Ted’ would certainly be simpler.

  19. 2011 July 1 7:09 pm
    [20]
    gnqanq permalink

    Jan – yeah, suburb of Columbus.

    The key was decreasing the amount of local funding the state gives to counties and cities. Another was the cut back on the funding of schools (which liberals always cry about the children). Schools have been crying and searching for ways to cut spending. To give some credit to the schools, there has been concessions by the unions to cut spending because the alternative is layoffs. The other big item was the leasing of the turnpike, think it will raise$2.5 billion over the life of the lease.

    Another factor or tool was Senate Bill 5 on collective bargaining. This could be used by local governments to control spending when it comes to Police & Fire. The unions have collected enough signatures to get it on the ballot to over turn SB 5. It is important that the Republicans educate the people on what wages and benefits is costing the public for public employees.

    From what I know, 75% to 80% (there abouts) of the General Fund for the City of Columbus goes to pay for Police & Fire. The citizens upped the city income tax last year from 2% to 2.5% on the argument it was to be used to prevent Police & Fire layoffs. Plus most of the income tax comes from people who work in Columbus but reside outside the city who could not vote on it. It barely passed by about a 1,000 votes.

    The problem is, Police & Fire have binding arbitration. Thus they get most of what they want or go to binding arbitration. What really sucks is that if the city has a rainy day fund, Police & Fire point at it as money that could be used for raises. The arbitrator not knowing any better leans to Police & Fire because of it. Cleveland had to layoff a boatload of Police & Fire because of tight finances. Thus the importance of Senate Bill 5 eliminate binding arbitration.

    What I hated about Senate Bill 5 was the elimination of collective bargaining. Most people think they should be able to organize and bargain but not necessarily go on strike. You want to organize, fine but don’t expect binding arbitration (police & fire).

    Key is educating the public. What also needs to be explained is that escalating costs is going to result in layoffs of Police & Fire.

    Retirement system is ok at the moment, but if not reined in, big problems down the road.

  20. 2011 July 1 7:10 pm
    [21]
    bc3b permalink

    Until the suto hearings I was not familiar with McCotter although his district is only about 50 miles from me. He is 45 years old and Catholic. He gratuated from University of Detroit (my alma mater, but I won’t hold that against him).

    McCotter is generally conservative. He voted against TARP but for the auto bailout; lots of autoworkers in his district. He voted the union line on Card Check. He has an 85 ACU rating (moderately conservative). Bachmann is 100$ and Lugar is 65%.

    He is married with three kids, former rock bank member and as bald as a cue-ball. He has been in the House since 2002 and was in the state legislature before that. He is a member of both the conservative House Study Committee and the liberal Main Street Republican Partnership (McCain, Snowe, Collins and Kirk are the only GOP Senators who are currently members).

    I heard him on the radio twice today – on a local show this morning and with the Fred Thompsons, who were subbing for Hannity today. He is very articulate and quick on his feet.

  21. 2011 July 1 7:28 pm
    [22]
    JustMary permalink

    #19 Big Brother is watching you.

  22. 2011 July 1 7:47 pm
    [23]
    justrand permalink

    good Lord…the Obamanistas thought THAT was a good image???

    I mean, um, it was, like, AWESOME…ya know? [I’m just trying to get a window bunk in Hut 1369]

  23. 2011 July 1 7:49 pm
    [24]
    drdog09 permalink

    I created 6,534 jobs. I did that by hiring a third, firing them at the end of the month. Then I rehired them back a month later only to fire them again at the end of the month. Then I hired them one last time only to send them a final termination notice 2 days past the end of the quarter. I was the hottest hiring company on the BLS rolls and it cost the government more money than the jobs in unemployment benefits. Not only that but as far as BLS is concerned those 6k jobs are up on the boards till the next quarterly reporting period.

    Is this a great country or what?

  24. 2011 July 1 8:29 pm
    [25]

    24 – haha creative way to jack the bls numbers. 😉

    The worst thing hitting this dumb ass this week is him scolding others to get to work and lead while turning down the offer to meet with senators and then he himself taking off again for a vacation. That and the romney ad was killer, I’m not a slick mitt fan but that’s the second relatively hard hitting ad of his that has come out well timed to the news cycle of the day\week directed at the president. Coming in third would be the overall presser, he better hope nobody really watched it cause came off like a child, even more so than he came of as a dick as one tv commentator put it.

  25. 2011 July 1 8:48 pm
    [26]
    Deckard permalink

    Hello all – just getting home from a long week of a massive computer upgrade . . . doing a PQ is tedious . . . so to open the celebration of my independence from work for 3 days, I’m sipping on a Malheur-12, dark original Belgian ale . . sipping because it’s 12% – that’s not to guzzle but to savor . . .

    I’m surprised Zero’s nose was as short as it was in the pic . . . or have others done enough of his lying for him that he only shows a little of the total . . a type of Dorian Gray portrait, if you will . . .

  26. 2011 July 1 8:53 pm
    [27]
    janzam permalink

    Thanks both to gnqanq and bc for a rundown on the questions I asked.

    It was interesting to hear about the concerns/problems in Ohio. We have similar issues here is CA, regarding education, and “It’s all about the children,” when funding is an issue. IMO, most of the funding goes to administrators, and very little into the classroom for supplies etc. Parents, like myself, were the supplier of supplies when my son attended these public schools.

    bc, the only time I’ve ever hear McCotter was on the Dennis Miller show. Somehow, Miller would turn to him when he had legislative questions, and McCotter appeared to have both a sense of humor and be sharp in his answers. Other than that he is a mystery to me. So, appreciate you filling out some of the corners in his resume and background.

  27. 2011 July 1 9:04 pm
    [28]
    justrand permalink

    drdog, I tried running your numbers through Excel and it froze up! I’m currently on hold with MicroSoft…thanks a lot! 🙂

  28. 2011 July 1 9:07 pm
    [29]
    janzam permalink

    Rich Dad, Poor Dad author has similar advice that you all are giving:

    Mr. Kyosaki suggests investing in precious metals, buying a gun and storing food, in a cautious “rather be safe than sorry” mindset.

    “Remember this, the police cannot prevent a crime, only you can do that,” he adds. “They can only investigate it after you’re dead.”

    Rich Dad, Poor Dad author: I’m preparing for economic collapse

  29. 2011 July 1 9:09 pm
    [30]
    gnqanq permalink

    Illinois, hahahaha. What I find funny is them arguing over appropriations. Appropriations is not necessarily cash. You can appropriate all you want BUT if you don’t have cash or a cash stream coming in to back it – it is an empty promise.

    http://capitolfax.com/2011/07/01/this-just-in-cms-decrees-no-union-pay-raises-at-14-agencies-boards-etc/

  30. 2011 July 1 9:13 pm
    [31]
    drdog09 permalink

    JR,

    You must have bought the Zero version of Excel. It expects you enter 000,000 to the numbers and a $3 donation to OFA for each workbook. 🙂

  31. 2011 July 1 9:13 pm
    [32]
    janzam permalink

    Don’t you think that will be happening more and more, gnqanq. If you don’t have the money, what can you do? Why is it that people have to have their nose up against a brick wall before they see they are going to crash?

  32. 2011 July 1 9:22 pm
    [33]
    Deckard permalink

    So after reading all the GREAT news on jobs, the economy, etc., and I need to echo gnqanq in #5 in the it took us a long time to get here . . but I’m thinking on a different vein . . . hopefully I can articulate my thoughts on a Friday night while “brew”ing . . .

    So we have our soldiers coming home from WW2 looking for work. Manufacturing was still at an all time high – granted many women were doing those jobs while the boys were out defending this great country. But the manufacturing was still needed – not only here, but overseas, where we had left many areas decimated. Meet the late 40s and 50s and even early-to-mid 60s – a time of economic boom. Vets could get GI bills to get homes, people actually saved enough to buy a home (like 25% at least) – but homes weren’t so out of reach financially that your ordinary blue collar joe-schmoe couldn’t reach to afford one.

    So what did we do? We exported our ideas, our ingenuity, etc. to the countries that we had decimated – Germany and Japan – and helped them rebuild – and due to our good nature, taught them what we knew. Now – we have Mercedes, VW (fahrvergnugen), BMW, Nissan, Toyota, SONY, just to mention a few. Our trade laws and their know-how helped them beat us at our own game. Same with China . . . if Nixon had never gone over there in the early 70s and if Clinton had not made that AWFUL trade agreement with them, where would we be now?

    You know, we never did any of the sort with the former Soviet Union (due to obvious reasons) . . . and what to we have as a result? Stoli . . . and caviar. That’s about it. They AREN’T our competitors on the world market – except for nukes . . .

    We underestimated our so-called friends. You share your secrets with very few if you want to stay on top. Why do you think Coca-Cola is the preferred cola-drink of choice?

    Those are just exporting/trading secrets issues. August 15, 1971 . . . the day that Nixon ended the conversion of dollars to gold/gold standard – this was the last nail in the coffin of the US abandoning the gold standard – from then our dollar would constantly struggle to have a significant value against other currencies – say the sterling pound, for example.

    Then let’s consider minimum wage – and it’s constant rise against workplace salaries. Oh yeah – let’s talk about the cost of living increase as well!!!! Hasn’t really risen to the occasion has it? We’re talking about those of us in jobs that CAN’T get a bonus or commission. Pretty soon, minimum wage will be earning $50k a year if the politicians have their way . . .

    Then we’ve got waves of illegal immigration since the 1970’s and 1980’s.

    So considering those factors . . . is it any surprise that working class and middle class folks are falling behind – due to stagnant wages, rising inflation, artificially priced real estate, amongst other factors? Simply put, the dollar doesn’t go a quarter of what it used to.

    Granted I studied international relations – not economics, but those factors I mentioned give me pause as to why things are winding down here . . . those in billionaire seats were able to see above the average manufacturing day-to-day riff-raff and come up with something so innovative – that EVERYBODY would wind up having it. That’s the driving force behind American business – innovation. When that is stifled, we choke. For example, due to EPA laws, we’re hindered on our cars, engines, etc.

    Just scattered thoughts on a Friday evening . . .

  33. 2011 July 1 9:30 pm
    [34]
    Deckard permalink

    #27 – regarding “it’s for the children: a certain local town passed a certain measure calling for an increase in the sales tax – from 9.75% to 10.25% – one of the highest in California . . . and why? For the schools. I voted against it – why? Because I could – they tried sneaking it through before and people voted against it – but then they tried a “bleeding hearts” approach in the latest election and people fell for it.

    All because Sacramento was making cuts. Well – sorry darlin’, but perhaps the school doesn’t need 15 teachers’ aides to make the students feel better about themselves. (Granted that came out of my ear . . . )

    How much will go to the local college – whose many students aren’t even the residents of the U.S. much less California, much less Los Angeles?

    When can the citizens look at the books to see where the money is being spent? How much are the superintendents being paid? How many students from outside the area are being admitted to local schools ?

    I’m a single guy – whose taxes pay for this. I get NO RETURN on my “investment”. Why should I have to pay for it?

    I’ve heard so many locals say that since the increase in the sales tax, they will shop elsewhere. I encourage it – why? Because I think the local city council is full of graft, greed and dirty politics, that’s why. All they care about is the special interest groups that will line their pockets and keep them in power and in office. A mirror of Sacramento.

  34. 2011 July 1 9:31 pm
    [35]
    gnqanq permalink

    Jan – yes. More and more government pension plans will fail. Already, I have seen police & fire unions agree to wage increases that have resulted in the elimination of jobs. Seems like as long as they get their’s, who cares who gets laid off as long as it is not them.

    Deckard, not bad. In hind sight, the demise began in the early 1970’s. I am a firm believer it is not going to end well. The welfare and entitlement class want theirs, government employees want theirs, the producing class gets smaller and smaller all the time. Government spending continues out of control with less and less resources.

    Something has to give. When the machine breaks, watch where all the parts go.

  35. 2011 July 1 9:50 pm
    [36]
    Deckard permalink

    gnqanq – thanks much. My theory was sophomoric at best. But as you said, everyone is going to want theirs. The whole issue with unions and proper pay metasticized into something monstrous. As the saying goes – the road to hell is paved with good intentions . . .

  36. 2011 July 2 3:14 am
    [37]
    judyt2009 permalink

    BJG has the brighest, well informed posters.

  37. 2011 July 2 6:27 am
    [38]
    justrand permalink

    and one of them is named “judyt2009” 🙂

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