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CBO finds 3.7M jobs created by stimulus
By Jay Heflin - 05/26/10 09:30 AM ET

A report by the nonpartisan Congressional Budget Office shows the Recovery Act has increased the number of workers by between 1.2 million and 2.8 million. The CBO also projects that 3.7 million jobs could be attributed to the stimulus by the end of September.

The $787 billion measure included several tax cuts, including one for $400 ($800 per working couple) that showed up in workers' paychecks. It also created Build America Bonds, expanded unemployment insurance and funded several domestic spending programs.

Several of these provisions are now being expanded in legislation extending expiring measures that the House could vote on later Wednesday.

A rough estimate supplied by House Republicans shows the extender bill increases the cost of the stimulus by approximately $88 billion.

A Senate Democratic aide contends the extender bill does not increase the cost of the stimulus.

"According to Congress's nonpartisan scorekeeper, the Congressional Budget Office, this bill does not change the cost of the Recovery Act or any other legislation, and to say it does is purely political propaganda," the aide told The Hill.

The CBO told The Hill there was no calculation on how the extender bill will affect the cost of the stimulus.

Republicans say the extender bill boosts stimulus spending by increasing unemployment insurance by $47 billion; expanding the COBRA subsidy by $7.8 billion; increasing Medicaid payments to states by $24.1 billion; extending the welfare emergency fund by $2.5 billion; modifying Build America Bonds, which costs $4 billion; and by providing $1 billion for summer jobs.

Skjellyfetti wrote:

CBO finds 3.7M jobs created by stimulus
By Jay Heflin - 05/26/10 09:30 AM ET

A report by the nonpartisan Congressional Budget Office shows the Recovery Act has increased the number of workers by between 1.2 million and 2.8 million. The CBO also projects that 3.7 million jobs could be attributed to the stimulus by the end of September.

The $787 billion measure included several tax cuts, including one for $400 ($800 per working couple) that showed up in workers' paychecks. It also created Build America Bonds, expanded unemployment insurance and funded several domestic spending programs.

Several of these provisions are now being expanded in legislation extending expiring measures that the House could vote on later Wednesday.

A rough estimate supplied by House Republicans shows the extender bill increases the cost of the stimulus by approximately $88 billion.

A Senate Democratic aide contends the extender bill does not increase the cost of the stimulus.

"According to Congress's nonpartisan scorekeeper, the Congressional Budget Office, this bill does not change the cost of the Recovery Act or any other legislation, and to say it does is purely political propaganda," the aide told The Hill.

The CBO told The Hill there was no calculation on how the extender bill will affect the cost of the stimulus.

Republicans say the extender bill boosts stimulus spending by increasing unemployment insurance by $47 billion; expanding the COBRA subsidy by $7.8 billion; increasing Medicaid payments to states by $24.1 billion; extending the welfare emergency fund by $2.5 billion; modifying Build America Bonds, which costs $4 billion; and by providing $1 billion for summer jobs.

http://thehill.com/blogs/on-the-money/8 ... job-growth" onclick="window.open(this.href);return false;

Gil Dobie wrote:How many of these jobs are permanent once the stimulus money runs out?

Skjellyfetti wrote:

Gil Dobie wrote:How many of these jobs are permanent once the stimulus money runs out?

I've said this a million times on here..... But, the stimulus wasn't to create permanent jobs. It was to create temporary jobs to keep people employed until the private sector begins hiring again. Sounds like it's working.

ASUG8 wrote:kinda hard to say that we've created jobs when unemployment is at it's highest level in years.

native wrote:


Thanks for the entertainment. Do you really believe that bullshat, skelly?

ATrain wrote:71,500 jobs were added in Virginia, and that was apparently without the help of the stimulus package:

http://www2.newsadvance.com/lna/busines ... ion/28554/" onclick="window.open(this.href);return false;

McDonnell estimated that perhaps 14,000 of the jobs could be linked to the economic jolt the federal stimulus package provided as a result of programs such as highway construction that spun off private sector employment.

"There certainly has been some short-term, salutary effect of the stimulus. How much? Hard to say," the Republican governor who was sworn in six months ago said of the economic recovery package adopted by a Democratic Congress and President Barack Obama.

Skjellyfetti wrote:

ASUG8 wrote:kinda hard to say that we've created jobs when unemployment is at it's highest level in years.

Unemployment ISN'T at its "highest level in years"

It peaked at 10.6% in January of 2010. As of June 15 it's at 9.3%.
http://www.google.com/publicdata?ds=usu ... +in+the+us" onclick="window.open(this.href);return false;

It's dropping.

Ursus A. Horribilis wrote:
But anyway, it only cost us 780 billion of our future?

Seems like a ****' bargain!

Skjellyfetti wrote:

ASUG8 wrote:kinda hard to say that we've created jobs when unemployment is at it's highest level in years.

Unemployment ISN'T at its "highest level in years"

It peaked at 10.6% in January of 2010. As of June 15 it's at 9.3%.
http://www.google.com/publicdata?ds=usu ... +in+the+us" onclick="window.open(this.href);return false;

It's dropping.

native wrote:

Skjellyfetti wrote:



http://thehill.com/blogs/on-the-money/8 ... job-growth" onclick="window.open(this.href);return false;

Thanks for the entertainment. Do you really believe that bullshat, skelly?

ASUG8 wrote:ployment rate and let me know what you find. Looks to me like we got some repaved roads, repaired bridges, and a census for $787B.

Skjellyfetti wrote:

Ursus A. Horribilis wrote:
But anyway, it only cost us 780 billion of our future?

Seems like a ****' bargain!

It hasn't all been spent.................

Ursus A. Horribilis wrote:Skelly, I think I found a clip that relates well to this and your love fest with what this stimulus has done for us.

[youtube][/youtube]

Skjellyfetti wrote:

Ursus A. Horribilis wrote:Skelly, I think I found a clip that relates well to this and your love fest with what this stimulus has done for us.

[youtube][/youtube]

Exactly! 70 mpg is nice!!! We need more efficiency... and hopefully the stimulus prods us in that direction.

native wrote:Skelly, you are like a kid with a calculator who multiplies 10 x 10 but comes up with 10,000 and doesn't have either the common sense or sufficient understanding of the big picture to know that the calculator answer is wrong.

Skjellyfetti wrote:

ASUG8 wrote:ployment rate and let me know what you find. Looks to me like we got some repaved roads, repaired bridges, and a census for $787B.

Jesus fucking Christ. The Census is not part of the stimulus bill.............. it's mandated by the fucking Constitution.


And the stimulus does much more than repave roads and build bridges.
Here's some of the stuff being done in Greenville (just the first Greenville zip code I entered... 29601):
http://www.recovery.gov/Pages/TextViewP ... &zip=29601" onclick="window.open(this.href);return false;