Is there anybody out there who can find
one economist in 2012 disputing the data in the CBO's report on the stimulus working via creating X jobs and raising GDP X amount?
Anybody?
Clip Clop?
Old Dog?
Here again is the data given by the CBO for reference. Still waiting for one of you to come up with one economist that in 2012 that says CBO data is wrong.
Quote:
Jay Bookman
CBO reports stimulus package was a major economic success
7:58 am November 23, 2011,
The Congressional Budget Office has released its latest assessment of the 2009 stimulus package and the economic impact of its various components.
According to the CBO analysis of stimulus provisions:
– They raised real (inflation-adjusted) gross domestic product (GDP) by between 0.3 percent and 1.9 percent (see Table 1),
– They lowered the unemployment rate by between 0.2 percentage points and 1.3 percentage points,
– They increased the number of people employed by between 0.4 million and 2.4 million, and
– They increased the number of full-time-equivalent jobs by 0.5 million to 3.3 million. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)
Two other points:
– The CBO estimates that the impact of the stimulus will continue to be felt over the next year, increasing GDP by up to 0.8 percent next year and creating up to 1.1 million jobs over what it would have been.
– The longterm economic impacts of increased borrowing to fund the stimulus will be minimal or nonexistent. “In contrast to its positive near-term macroeconomic effects, ARRA will reduce output slightly in the long run, CBO estimates—by between zero and 0.2 percent after 2016,” its economists predict.
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