Oct 6, 2010

Debunking the lie that the stimulus did not create jobs


The fact that President Obama and the Democratic Congress saved the country from the Bush Recession – the longest and deepest since the Great Depression –becoming a depression should be more than enough for people to vote for Democrats next month, but sadly so many people have bought into Republican lies the election will be close. It’s time to debunk one of the biggest Republican lies.

That lie is that President Obama’s economic stimulus package did not create or save a single job. That is a complete lie, and many economists say the stimulus should have been larger. Republicans and the many conservative think tanks have falsely made that claim, and in fact The American Recovery and Reinvestment Act has been featured in more than 130 TV ads so far pushing that lie, According to the nonpartisan site Fact Check.

According to Fact Check, “the nonpartisan Congressional Budget Office (CBO) released a report in August that said the stimulus bill has "[l]owered the unemployment rate by between 0.7 percentage points and 1.8 percentage points" and "[i]ncreased the number of people employed by between 1.4 million and 3.3 million."


“Simply put, more people would be unemployed if not for the stimulus bill. The exact number of jobs created and saved is difficult to estimate, but nonpartisan economists say there’s no doubt that the number is positive.”

The same CBO report in August estimates that the policies of the stimulus package had the following effects in the second quarter of calendar year 2010: They raised real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.5 percent.

The success of the Democratic Congress should be enough, but when you combine that with the fact the Republicans have no plan to fix the mess they created. The truth is they blocked every single bill, and they offered no solutions. In fact, the alleged pledge they rolled out last month is just the same old, failed policies that created the Bush recession.

Vote Democratic on November 2.

12 comments:

Not Anonymous said...

I don't even need to comment. The news of the day shows that you haven't a clue of what you're speaking.

NEW YORK (Reuters) - Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.

From Bloomberg: The number of Americans receiving food stamps rose to a record 41.8 million in July as the jobless rate hovered near a 27-year high, the government said.

From CNBC: The recession put a 3.1 percent dent in the personal incomes of New York state residents, who endured their first full-year decline in more than 70 years, according to a report released Tuesday.
From USA Today: WASHINGTON — Recovery.gov promised transparency on how the government spends every dollar of stimulus money, but there's $162 million the website doesn't disclose.
Recipients of 352 federal stimulus contracts, grants and loans have failed to report how they spent the money, the status of their projects or how many jobs were funded, according to the Office of Management and Budget (OMB).

Communications guru said...

Because you have nothing. I agree with you; the Bush recession has hurt, and it has been the deepest and longest since the Great Depression. Even more reason not to bring his failed polices back.

Again, anonymous wimp, I am still waiting for you to back up your outrageous lie that we were “nearly shoulder to shoulder once.”

sundancer said...

I am glad you agree with us that when the demoRATS took over congress in 2007 they created the deepest and longest recession since the great depression. It has only gotten worse after ovomit took office. Now with their failed simulus package, a package which did little to nothing for MI even though we have the longest serving person in the house and levin and stabmenow in the senate.

Failed obamacare that ovomit is now giving waviers to companies to exclude them from the horrific program.

I am still waiting for you to tell me why tea party members are racist.

The said...

Guru, You portray yourself as a smart person but you haven't a clue as to how the economy works.
Government can not create wealth it only consumes it. It is our money they are spending, the stork did not bring it.
Who will pay for the trillion dollar stimulus?
Don't go down the Bush road either, If Bush spent to much how can Obama spending more save us.

Communications guru said...

I don’t agree “with Us,” whoever “us” is because the failed Bush polices that Republicans want to go back to created the worst recession since the Great Depression.

Who the heck or what the heck is “ovomit”? President Obama not only stopped the country from going into a depression, the country is out of the recession. The stimulus package did what it was supposed to do. Sorry, that’s a fact.

Again, idiot, there is not such thing as “obamacare,” and again, idiot, who or what the heck is “ovomit?” Heath care insurance reform, although one small part just took effect, is a success.

Are you serious? Your still waiting for me “to tell me why tea party members are racist?” It’s pretty obvious. See, the are these key words at the bottom of every post. Just select the ones that say “teabaggers” or “Boston Tea Party” and you will find out.

Communications guru said...

I’m just average, but compared to some of the teabggers, like anonymous coward and “sundancer,” I look like a genius.

The simple fact is that a depression - that bush almost sent the country into - and a recession is by definition a shortfall of demand. So it goes to reason that to correct it is to spend more. Business could spend more, but as we have seen they are holding on to their record profits. Individuals can spend, but Republicans have so scared them they are not spending. So the only one left is the government. That’s what lifted us out of the Great Depression and the Bush recession.

Who will pay for the trillion dollar stimulus? Taxpayers. I will “go down the Bush road “ because he crated the mess. Bush created the huge deficit on a useless war and tax cuts for the richest 1 percent. President Obama is spending it on the country’s infrastructure.

sundancer said...

A genius you are not. The wasteful simulus package only divided up less than 8% of the money to infrastructure. Mich in fact just voted in their current budget only by using the stimulus money to pay for it. DUH.

Business are holding on to their money and not hiring in droves because of ovomit, reid and pelosis wicked programs and bills they are forcing on Americans that do not want them. DUH

Americans do not spend because almost 10% are out of work and many more are afraid of losing their jobs. Yeah that stimulus package that ovomit and biden lied about that would keep unemployed below 8%. DUH

Communications guru said...

I never said I was a genius, but I’m smarter than you. But again, that’s not a big accomplishment.

Prove your claims. The fact is Michigan used parts of the stimulus money in their budget to save jobs. That is what it was intended for.

Corporations are holding on to their record profits to get people more friendly to them in office. I’m at a loss as to how with record profits they need more breaks and perks. I have no idea who the hell “ovomit” or “pelosis” are, so I won’t bother to address that lie.

If 10 percent are out of work, why aren’t the 90 percent spending? Because of fear mongering by Republicans.

sundancer said...

They are not spending because ovomit now wants to spend 50 billion on infrastructure. Where is he gonna get the money. A gas tax of abt 25 cents a gallon. This is the 50 billion program that he said in a speech that was already paid for but now all the sudden the money is not there.

People will be forced to buy health care. Oh wait not all people as he is now waiving it for big companies since McDonalds threatened to drop it for their employees. Yea the so called great reform that we all needed rushed through congress, a bill they did not read is a failure already.

They are not spending because the demoRATS decided to take another break before the elections...gee didnt they just take abt 3 weeks off in Aug...duh...so now they will not vote to extend the great Bush tax cuts. Now the less u make the higher % your taxes will go up. Thats right the poor will be hurt the most. It was never abt the rich paying more. ovomit, pelosi, reid, dingell are screwing this country up bad.

Communications guru said...

I have no idea who the hell “ovomit,: so how am I going to debunk your lie? When you talk about somebody I know, I will address it.

I also have no idea what “demoRATS” are. When you address the party of people and America’s oldest party by the correct name, I will debunk your lie.

brad said...

yes i read this blog to so please dont repost it to me in the other story im commenting on.

Communications guru said...

What?