Reports to be released Friday on the government Web site Recovery.gov are expected to show that the $150 billion in grants and loans made so far under the economic stimulus package have created or saved about 650,000 jobs, White House officials said Friday morning.
White House officials said the reports — which were filed by state and city governments and other recipients of stimulus grants and loans — will confirm their recent estimates that the $787 billion package passed in February has so far saved or created about a million jobs, putting it on track to match their estimates of 3.5 million jobs created or saved over the three-year span of the stimulus. That calculation is based on the fact that today’s reports do not include much of the package’s spending — tax cuts, safety net spending and fiscal aid to strapped states, which injected tens of billions more into the economy and, in the case of the state aid, forestalled layoffs of state workers. watchdog groups caution that the reports ought to be taken with a strong grain of salt given the difficulty of actually tallying the effect of government spending. The reports include claims of tens of thousands of teaching and other public-sector jobs saved by the spending, but it is hard to know for sure how many jobs actually would have been lost in the absence of the stimulus.
Nonetheless, the White House is poised to make the most of Friday’s numbers, with Vice President Biden appearing at noon in Washington to tout the numbers alongside Maryland Gov. Martin O’Malley (D) and California Gov. Arnold Schwarzenegger (R).
So was it 150 Billion Dollars to save 650K jobs, or was it 787 Billion to save 1 Million jobs? And how many jobs have been lost? Somebody do the math.
#37 ..if health care….. and regulations get piled onto production…
See study below how GOP policies on healthcare have contributed to 17,000 dead babies.
Alfred1, Why are Republicans baby killers? That’s just not right. Babies are our future.
http://redorbit.com/news/health/1778143/lack_of_health_care_contributed_to_17000_child_deaths/
I hate to triple post (and I hope someone tells me how to embed an image here, img src html didn’t work) …
@ Alfred …
“Truth is, we’ve lost millions of jobs and its unlikely they will come back…especially if health care…carbon taxes…and all the other taxes and regulations get piled onto production…”
We are unlikely to get the jobs back EVEN IF healthcare and carbon taxes DON’T pass.
No business is wanting to build production here.
This means no jobs and no taxes on those wages.
A good question: what is the carbon footprint of our government laws and regulations and how does our carbon footprint for these compare to other countries?
The business risk for employment in the USA is too high and the minimum wage is too high AND the overhead is too high. Plus NAFTA allows Mexico to be a backdoor to tariff-free trade to the USA.
Considering the above, no business wants to build anything in the USA. Which is why, among other things, Dell who had 18 US factories in the USA now has closed them all in favor of China.
And the best part of this bullshit story is, all the jobs were public sector!!
Yayyyyy!
#30 That bit about improbus being Latin for “failure” got to you…or was it you are the perfect failure?
Don’t worry…no one is perfect…you fail at being the perfect failure.
They should have spent all the money fast. Instead they have the high deficits, and no boost in employment. So now they can’t get health care passed because the high unemployment has made them unpopular,so some Democrats won’t vote with them,while other Dems are worried about adding to the deficit.
#45 They never should have spent any of it…when the Treasury borrows…its the rich that lends…the very money they might have used to build factories…invest…goes to the Government…
He should have followed Reagan’s prescription of reducing regulation and taxes on production…then the real economy would have boomed.
Reagan got a worse economy from J. Carter…double digit unemployment…stagflation…many pundits were saying it was the end of America…and Reagan turned it around…
Obama did precisely what he shouldn’t have done…bankrupted us.
Here’s an example of some of these newly created jobs, courtesy of my Dad.
He was talking with a guy from Maine. It turns out that Maine’s unemployment insurance department found work for five men at the local post office. Great… working for Uncle Sam! Too bad the postal jobs lasted only eight hours! At the end of the day, they were let go and allowed to continue to collect state unemployment benefits.
The local newspaper trumpeted “Five new positions at local Post Office!” but failed to report that the jobs were already lost by the time the story went to press.
Alfred1, you pig-ignorant, judgmental little troll, where do you get off accusing me of racism!
What the heck was the rest of your comment, it was totally irrelevant to what I posted. Next time, think before you type…
Oh, by the way, use both hands…
#48 Get it right white boys!
Racist dickhead…
#42 Check out the arguments for “the fair tax”
For me its not theory…as costs are pegged to wages…I reduce wages…by lowering what I pay…or not hireing.
Its elementary, whenever you tax something, you get less of it…
If all taxes, including taxes on wages, were shifted to comsumption…factories would start coming back…
The other thing, less EPA nonsense…and restrictions on bogus lawsuits..
I have a bogus lawsuit on me now…it might put me out of business…or the lawyer fees might do that…I’m stubborn enough to fight it out…
But if my business were the sort that could pack up and move over the border…I would…in a heartbeat…if only to prevent the fraud.
iT USED TO BE, out in the wild, that the STRONG survived.
But the Strong got lonely, and decided to help a few idiots, and keep them around for Fun and sex.
After awhile the strong person was out numbered by idiots.
Some of the idiots were smart, and decided to RULE the group, so they made friends with the Strong.
The Strong didnt mind, as he was smart also, and didnt want the job, to much paper work, and he didnt want the blame.
In history we can look back and SEE What the idiot STRONG has done..We can see what happened when the SMART IDIOT, wasnt SMART enough.
BUT, when the Smart idiot gets a bunch or IDIOT STRONGS to back him. Its better to leave the pack if you are the SMART idiot or the Smart Strong person.
The problem we have is WHERE can we go?
Can we take BACK and make this a BETTER PLACE? with out killing each other.
Will the IDIOTS let us have this all back and not FIGHT?
We were on the brink of a Depression. Check the stock market!
Alfred1, Since when is a WHITE guy saying, “get it right WHITE boys” racist?
You’re projecting your own racism on me. Turn off the computer, take your meds, and have a lay down and call your mental health specialist and make an appointment, you need some serious counceling…
So the government can give out a 50,000 dollar job for 250,000 or so. This is a surprise? These people are incompetent! I know expect our bond rating to fall in less than 10 years. What that means for a nation running on borrowed money is to grim to think about.
@54
“I know expect our bond rating to fall in less than 10 years”
You, sir, are a huge optimist.
I bet it is crap in 2 years or less. Unemployment is going to hit around 13% by this time next year.
For most unemployed we are living in the constant depression. I don’t think the Obama administration realizes how coming out with numbers like this makes the unemployed mad. Who do they think they are fooling?
This administration is just about mind games like other one. Nothing has changed and we might as well give up on the notion of CHANGE.
It will never happen in Washington.
#32- just for the record- unemployment under Bush was closer to 5-6% most of the time (according to the BLS).
@57
Yeah that’s true but I said “often”, hehe, which is true.
I’m just pointing out that partisans tend to not give the other side any credit for things they do happen to do well.
We’ve run an imaginary economy since around 1994 (dot-com boom — which was fake) and then the house refinancing/mortgage debt boom (equally fake) so the current unemployment rate is merely a result of the fake “mortgage your house and spend” employment boom subsiding.
Meanwhile, secretly outsourcing plus NAFTA plus excessive regulation has gutted the true jobs.