CBO: stimulus has created 3.7 million jobs

[BDKJMU]

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

If you have better numbers from a better source... feel free to post them.

CBO's numbers are the best and least biased that I'm aware of.

Yeah, the CBO was on target to before it passed with how much it said Obamacare was going to cost. Oops Garbage in, garbage out.

[Chizzang]

is this the same group of people who said the stimulus would keep unemployment at or below 8%....Skelly you should read some Hayek or something and quit drinking the kool-aid

You don't know where the information is coming from - who's saying it or anything about it...
But Skelly is drinking "the kool aid"

seriously...

[BDKJMU]

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

Unfortunately, he is that gullible. Remember this is the same CBO that 'estimated' Obamacare would only cost $940 billion back in March. It's only 4 months and we now know how wrong they were.

Oh dang it, I just replied to the same thing before seeing that Baldy already beat me to it...

[Skjellyfetti]

is this the same group of people who said the stimulus would keep unemployment at or below 8%....

The CBO? No.

Skelly you should read some Hayek or something and quit drinking the kool-aid

Oh, the irony.... from the only poster on cs.com still young enough to be drinking his kool-aid from a sippy-cup.

[bobbythekidd]

is this the same group of people who said the stimulus would keep unemployment at or below 8?

No silly. That was the President of the United States.

[Skjellyfetti]

If you have better numbers from a better source... feel free to post them.

Whose got the better numbers?

Everyone seems so sure that these numbers are bunk. Surely it's based off another set of numbers that are better. Right? ....Right? Surely you all wouldn't pull that sort of thing out of your ass........

[youngterrier]

is this the same group of people who said the stimulus would keep unemployment at or below 8%....

The CBO? No.

Skelly you should read some Hayek or something and quit drinking the kool-aid

Oh, the irony.... from the only poster on cs.com still young enough to be drinking his kool-aid from a sippy-cup.

Oh you're right about the CBO thing....but what were their projections on the cost of Medicare/Medicaid and their accuracy with those numbers? I'm fairly certain those were way off as well.

How does it feel to be intellectually inferior to someone who still drinks from a sippy-cup?

[bobbythekidd]

oh you're right about the CBO thing....but what were their projections on the cost of Medicare/Medicaid and their accuracy with those numbers? I'm fairly certain those we're way off as well

How does it feel to be intellectually inferior to someone who still drinks from a sippy-cup?

1. Sentences start with a capitol letter.
2. We're is a contraction for "we are"
3. Sentences end with some form of punctuation.

How does it feel to have your grammar punked by a guy from GSU?

[youngterrier]

oh you're right about the CBO thing....but what were their projections on the cost of Medicare/Medicaid and their accuracy with those numbers? I'm fairly certain those we're way off as well

How does it feel to be intellectually inferior to someone who still drinks from a sippy-cup?

1. Sentences start with a capitol letter.
2. We're is a contraction for "we are"
3. Sentences end with some form of punctuation.

How does it feel to have your grammar punked by a guy from GSU?

1) whose side are you on
2) I've lost some of my grammar skills with the use of text messaging
3)

[bobbythekidd]

1) whose side are you on

1. KY is in so far over his head, I don't even bother to address his points.

[youngterrier]

1) whose side are you on

1. KY is in so far over his head, I don't even bother to address his points.

If only all Keynesian could be treated this way, but they can shout louder.....sigh

[Skjellyfetti]

How does it feel to be intellectually inferior to someone who still drinks from a sippy-cup?

How does it feel to judge intellectual capability on a I-AA football message board.

[Chizzang]

1. KY is in so far over his head, I don't even bother to address his points.

If only all Keynesian could be treated this way, but they can shout louder.....sigh

Have you received your diploma from Wofford..?

[youngterrier]

How does it feel to be intellectually inferior to someone who still drinks from a sippy-cup?

How does it feel to judge intellectual capability on a I-AA football message board.

How does it feel to be incapable of answering my question involving Medicare/Medicaid? I call it as I see it and your incapability to answer a simple question shows me that you are intellectually inferior to myself

[youngterrier]

If only all Keynesian could be treated this way, but they can shout louder.....sigh

Have you received your diploma from Wofford..?

No but this whole High School thing is painstakingly easy

[ODUsmitty]

Public-sector parasites just make the "overhead" payments larger to keep this monstrosity of a government growing. No wealth or taxable growth is created by these positions, only liabilities. I can hope these are also considered "temporary employees", because like a girfriend that doesn't put out, they are useless.

That being said, however, I have hired 3 full-time positions in the past 12 months.......Of course, I did not need Chairman Maobama to stimulate my business - we just outsold the competition and stole market share while they were not looking.

[Baldy]

is this the same group of people who said the stimulus would keep unemployment at or below 8%....Skelly you should read some Hayek or something and quit drinking the kool-aid

Way to go, YT.
Pulled the FA Hayek card on jellybelly.
You just know after he saw that KY was banging out his name on google.

Do yourself a favor, KY. Read The Road to Serfdom, you will learn something about the central planning you love so much.

[ASUG8]

oh you're right about the CBO thing....but what were their projections on the cost of Medicare/Medicaid and their accuracy with those numbers? I'm fairly certain those we're way off as well

How does it feel to be intellectually inferior to someone who still drinks from a sippy-cup?

1. Sentences start with a capitol letter.
2. We're is a contraction for "we are"
3. Sentences end with some form of punctuation.

How does it feel to have your grammar punked by a guy from GSU?

1. The capitol is a building in Washington, D.C.. Washington begins with a capital letter.

[OL FU]

I have not read this CBO report, but I read the last one so I am going to assume that they came up with the numbers in the same fashion. For the earlier report, they took the same model that was used to project job creation based on the stiumulus bill and replaced the projected numbers with the amounts of funds actually spent. The model then calculates GDP impact based on assumed multipliers and derives from that an estimate of the number of jobs created. In other words if the model is correct, then the answer is correct ( within a large margin of error). My opinion is that the model is probably a complicated formula of misapplied assumptions. You can form your own opinion. But regardles of what that opinion is, the results answer is calculated the exact same way the projected answer is calculated. In other words, the actual results answer is only correct if the projected answer was correct. That, by itself, should give you concerns.

[CitadelGrad]

The first paragraph contradicts the thread's headline.

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.

Most independent economists are predicting a double-dip recession before the end of the year. I promise you that if that happens, the CBO's projection of 3.7 million by the end of September will not be reached.

If you consider the range of 1.2 million to 2.8 million, a ridiculously large range, then factor in the census workers and people who have given up on finding a job, then there has been on a small net increase in employment or even a decrease if the low end of the range is correct. When you consider that many of the stimulus jobs are government jobs, it becomes pretty clear that private sector employment is contracting, not expanding.

jellybelly, you get an A+ for kool-aid consumption but an F for analytical skills.

[CitadelGrad]

1. Sentences start with a capitol letter.
2. We're is a contraction for "we are"
3. Sentences end with some form of punctuation.

How does it feel to have your grammar punked by a guy from GSU?

1) whose side are you on
2) I've lost some of my grammar skills with the use of text messaging
3)

Actually, it's capital letter, not capitol letter. GSU grads got no bizniz dishing out the grammatical smack.

[youngterrier]

is this the same group of people who said the stimulus would keep unemployment at or below 8%....Skelly you should read some Hayek or something and quit drinking the kool-aid

Way to go, YT.
Pulled the FA Hayek card on jellybelly.
You just know after he saw that KY was banging out his name on google.

Do yourself a favor, KY. Read The Road to Serfdom, you will learn something about the central planning you love so much.

Youngterrier is reading that now

[bobbythekidd]

1. The capitol is a building in Washington, D.C.. Washington begins with a capital letter.

Actually, it's capital letter, not capitol letter. GSU grads got no bizniz dishing out the grammatical smack.

Story of my life. Swing a big stick and still come up short.

[ASUG8]

1. The capitol is a building in Washington, D.C.. Washington begins with a capital letter.

Actually, it's capital letter, not capitol letter. GSU grads got no bizniz dishing out the grammatical smack.

Story of my life. Swing a big stick and still come up short.

It's all good, Bobdammit. We knew where you were going with it, and your head was in the right place. Don't take any crap out of that YT whippersnapper.

[From the class of 09]

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.

Alright a quick rundown of the facts:

• 3.7 million jobs have been created due to the stimulus
• This does not include the entire stimulus package of approximately $792 billion
• However approximately $257 billion has been spent (http://projects.propublica.org/tables/s ... g-progress" onclick="window.open(this.href);return false;)
• These are not permanent jobs (source above)
• Simple division shows that 69.5k was spent for each job gained
• The average US salary is around 40k (http://pubdb3.census.gov/macro/032006/p ... 03_001.htm" onclick="window.open(this.href);return false;)

Conclusion: You are left with one of the following choices

A) In the worst economic conditions since the great depression unemployed US workers would not work for any less than 50% more than the average US worker
B) The government wasted approximately 10k on each and every job they have “created” to date.*

*10k of waste would be a rather conservative estimate assuming that most companies pay benefits on top of the average 40k salary. It was also assumed that these companies had no financial incentive to hire any of these individuals except for the above mentioned government stimulus.