Obama's stimulus was a massive failure and it didn't work

[Clip-Clop]

Originally Posted by Cannon Shell

All economic stimulus "work" because it is an artificial effect. To what degree is the question.

For example if Doc ICU hit the lottery and his head and decided he wanted me to train for him. I go to the sale and spend 10 million for him on yearlings. Well that 10 million will certainly stimulate the short term sales economy, the economy of my barn and all those with whom I do business with. But if they all turn out to be bums and the spending turns out to be an unwise investment in the end nothing is really acomplished because he wont spend that money again. In a perfect world the breeders who benefited from the extra 10 million in sales would reinvest in their programs, my barn would expand based on the success on the horses bought and Doc ICU would become a longtime owner/investor in the business. Most likely the breeders would pocket the money, my barn would get a small bump and in a few years the entire "stimulus" effect would be minimal.

Theoretical math is even less welcome than ordinary math here as that requires thought, logic and projection when it is more fun to post pie charts...

[Riot]

Originally Posted by Clip-Clop

Theoretical math is even less welcome than ordinary math here as that requires thought, logic and projection when it is more fun to post pie charts...

Yes, who would think that posting actual numbers to support their contention would be ridiculed by those that don't like "pie charts"?

But, when you can't list one economist in 2012 that disputes the success of the stimulus data, I guess trying to ridicule facts is all you have?

[Riot]

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.

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.