Stimulus to cost $27B more than original pricetag (with puke-worthy first paragraph)

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[ARCHIVED THREAD] - Stimulus to cost $27B more than original pricetag (with puke-worthy first paragraph)

Posted: 8/24/2010 8:34:30 PM EDT

http://www.breitbart.com/article.php?id=D9HQ41Q00&show_article=1

Stimulus to cost $27B more than original pricetag

Aug 24 06:00 PM US/Eastern

By JULIE HIRSCHFELD DAVIS

Associated Press Writer

WASHINGTON (AP) - President Barack Obama's massive stimulus
measure has created or saved as many as 3.3 million jobs and continues
to boost economic growth in the second half of 2010, but it's come at a
higher pricetag than originally billed.

Congressional analysts released new figures Tuesday estimating that the
law enacted in January of 2009—then projected to cost $787 billion over a
decade—would cost $814 billion. That's still lower than the
Congressional Budget Office estimated in January, when it said the
measure would cost $862 billion.

The report comes 10 weeks before midterm congressional elections in
which Republicans are hammering Democrats and Obama on the economy,
charging they've pushed runaway spending without creating promised jobs.

The analysis credits the stimulus measure with increasing the number of
people employed somewhere between 1.4 million and 3.3 million jobs
between April and June—and boosting the gross domestic product by as
much as 4.5 percent. The figures are slightly less rosy than the picture
Obama's economic advisers painted last month, when they said the
stimulus law had "raised employment by 2.5-to-3.6 million relative to
what it otherwise would have been" during that period.

In May, the nonpartisan office estimated the law had created or saved
between 1.2 million and 2.8 million jobs during the first three months
of the year, and increased GDP by up to 4.2 percent.

The measure has lowered unemployment as much as 1.8 percent in the second quarter of the year, according to the report.

In a speech Tuesday, House Republican Leader John Boehner of Ohio gave a
stinging indictment of Obama's fiscal policies and demanded that he
fire his top economic aides.

"All this 'stimulus' spending has gotten us nowhere," Boehner proclaimed in Cleveland.

Vice President Joe Biden said the report confirms the stimulus measure has indeed worked.

"So while Republicans in Congress—the same party that got us into this
mess in the first place—may want to turn back the clock and drive us
back into the same ditch we're making our way out of, it's now clearer
than ever before that we can't afford to go backward," Biden said in a
statement.

The analysis also suggests, however, that most of the bang the
still-lagging economy is going to get for its stimulus buck has already
occurred. About 70 percent of the measure's cost will have been incurred
by the end of next month, the report said, and its effects on jobs and
economic growth are expected to dwindle in the second half of the year
and gradually disappear starting in 2011.

___

Online:

CBO website: http://www.cbo.gov

Posted: 9/8/2010 3:12:34 PM EDT

[#1]

Well....

Posted: 9/8/2010 3:18:19 PM EDT

[#2]

Even if you accept those numbers as true that means we spent $246666.66 for every job. Way to go Democrats.

Posted: 9/8/2010 3:20:43 PM EDT

[#3]

It must be nice to have a jobe where you can be off by fucking billions and no consequences. Even retarde cashiers can lose their jobs over having their drawers off by a few dollars.

Posted Via AR15.Com Mobile

Posted: 9/8/2010 4:49:49 PM EDT

[#4]

Hope and Change

Posted Via AR15.Com Mobile

Posted: 9/8/2010 4:52:40 PM EDT

[#5]

WASHINGTON (AP) - President Barack Obama's massive stimulus measure has created or saved as many as 3.3 million jobs and continues to boost economic growth in the second half of 2010, but it's come at a higher pricetag than originally billed.

Notice the language trickery. AS MANY AS 3.3 MILLION JOBS. In other words, it saved or created anywhere from 0 to 3.3 million jobs.

Posted: 9/8/2010 4:53:57 PM EDT

[#6]

Quoted:

Even if you accept those numbers as true that means we spent $246666.66 for every job. Way to go Democrats.

This. They can dress it up as much as they want, saying they saved so many jobs, or came in so much under budget, but the actual figures never come close to having a positive benefit.

Posted: 9/8/2010 4:57:39 PM EDT

[#7]

And the wide eyed crowd said OOOOH!.........AHHHHH!.....Rockstar!.....What an eloquent speaker!

[ARCHIVED THREAD] - Stimulus to cost $27B more than original pricetag (with puke-worthy first paragraph)

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