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View Full Version : A Verdict on Obama's "Stimulus" Plan



megimoo
05-16-2011, 07:10 AM
Economists Timothy Conley and Bill Dupor have studied the effects of the American Recovery and Reinvestment Act (the purported stimulus bill) with great rigor.

Earlier this week, they reported their findings in a paper titled "The American Recovery and Reinvestment Act: Public Sector Jobs Saved, Private Sector Jobs Forestalled." The paper is dense and rather lengthy, and requires considerable study. Here, however, is the bottom line:

Our benchmark results suggest that the ARRA created/saved approximately 450 thousand state and local government jobs and destroyed/forestalled roughly one million private sector jobs.

State and local government jobs were saved because ARRA funds were largely used to offset state revenue shortfalls and Medicaid increases rather than boost private sector employment. The majority of destroyed/forestalled jobs were in growth industries including health, education, professional and business services.

So the American people borrowed and spent close to a trillion dollars to destroy a net of more than one-half million jobs.
Does President Obama understand this? I very much doubt it. When he expressed puzzlement at the idea that the stimulus money may not have been well-spent, and said that "spending equals stimulus," he betrayed a shocking level of economic ignorance.


http://www.powerlineblog.com/archives/2011/05/029042.php

American Pitbull
05-16-2011, 08:34 AM
Does President Obama understand this?

I say he does indeed. I honestly believe this 'hate America-in-Chief' is doing everything he can to destroy our nation so he can rebuild it in his far left psedoeutopia. From his destruction of private industry to his growth of government at an unsustainable pace, we are on the fasttrack of decline. The leftists will wake up eventually, but I am sure it will be too late by then. We NEED to stop this idgit, and FAST.