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CBO: Unemployment would be as much as 1.8 percentage points higher without the stimulus. A report released in August by the Congressional Budget Office estimated that the stimulus lowered the unemployment rate by between 0.7 and 1.8 percentage points. Thus, had the stimulus not been passed, the unemployment rate could currently be as high as 11.4 percent, compared to the actual rate of 9.6 percent. The CBO estimates that the stimulus increased the number of employed people by between 1.4 million and 3.3 million.
While Right-Wing Media Claim Stimulus Failed, Analysts Agree It Significantly Boosted GDP, Employment
Seeded on Sun Sep 5, 2010 5:24 PM EDT
Article Source: Media Matters for America- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (8)
You won't hear the right even mentioning this.
- 6 votes
#1 - Sun Sep 5, 2010 5:25 PM EDTOf course not, they've always had selective hearing only for those items that coincide with their beliefs.
- 1 vote
That is because it is wrong.
Most government numbers are the product of manipulation meant to make the White House or the Congress look better.
GO look at a charge done by an independent investigator and see the scope and changes in the number and you will crap!
Chart
- 1 vote
Actually they have ... somewhat. The clowns on FOX PAC cited the CBO report, cherry-picking the one statement in which it was estimated that the cost of the Stimulus bill was higher than previously anticipated.
All other aspects of the report cited here were, of course, ignored in the interest of right wing propaganda peddling.
- 4 votes
#2 - Sun Sep 5, 2010 7:19 PM EDTlol you just can't help but laugh sometimes. Thanks for the info, ScienceGuy. Sometimes you just throw up your arms. I'm just glad Fox has the reputation now that it deserves: an entity that is willing to lie solely for political purposes.
- 5 votes
I for one find it rather amusing that both sides ignore the fact that these little "We Done Good" self-congratulatory announcements always say how much the GDP was "increased" but NEVER say that the GDP INCLUDES government spending.
So the fact that the Government spent our grandkid's futures on a bunch of bridges to nowhere spending is touted as a POSITIVE thing.
I also find it amusing that the Obama Administration, instead of being able to point to real achievements, must instead point to these "well... it COULDA been worse... maybe.... klinda sorta" kind of statements.
Oh... and in keeping with the spirit of the Obama Administration's example, I'd just like to announce that today I did NOT spend $40 Billion dollars of government money on ice cream, so I SAVED the US Taxpayers $40,000,000,000 today!
- 1 vote
That of course is one of the benefits of being the minority party- you don't have to actually deal with facts or come up with ideas. Your main objective is to simply make the other party look bad. Personally, I am a little curious as to what will happen if the GOP does manage to take over one (or both) houses of Congress in November. While I cringe at the Social Conservative aspect of their platform, they would finally have to actually come up with some legislation rather than sit on their hands and complain day in and day out.
#3 - Sun Sep 5, 2010 10:14 PM EDTHow many jobs were created by the trillion dollar taxcuts from George W Bush which, at the time were touted as being a path to massive job creation because the wealthy who were given those taxcuts would invest that money in America and create jobs? Under Bush, over 8 million Americans lost their jobs and a lot of them went overseas to subsidiaries of the same American corporations who benefited from those same taxcuts. Obama may not be having great success yet returning America to work but at least he's slowed down the rate of job loss which, given the crap economy he inherited, is not too bad for less than 2 years. And he, unlike Bush, is trying to get regular Americans back to work rather than Republicans/Tea Partiers who just want to continue to line the pockets of their corporate masters. Well they have to otherwise their bribes (sorry, campaign contributions) would dry up.
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