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.
Ivy league math is different from public school math. First you start with the answer you want and then you say “these are not the droids you are looking for”.
15, then device my numbers by 5..
And I still get almost 2% of the people employed..4% if I lift it to $20k per person..
Lets look at the BOTTOM 40% of the USA, that cant make ends meet.
BASED on 250million people of working age..
is about 100million people..and $150,000,000,000
you could give everyone of that 40% $1500 to PAY RENT.
Problems we have..
Corps that dont see that PLACING their company in RURAL areas, is CHEAPER..
TRAINING from RURAL areas is CHEAPER.
States that think being in the CITY should cost you MORE to live and charge higher TAXES.
UTILITIES that are FORCED to make profits, because that have STOCKS.
corps that think we can be made GULLIBLE, forever.
Oops I meant to address #12, not #15 .
I picked the wrong loonie. My bad.
*shrug*
This is nothing new, ALL administrations from the Depression til today liked to speak about how they created jobs from this that or the other.
Sometimes they were completely right, other times they just took a few jobs numbers and announced they were making an impact, even though the numbers had nothing to do with what they had actually done.
I’m far more curious why every conservative twit seems to think the stimulus was supposed to work within 3 months. The government never ever works that quickly on ANYTHING. I expect to see some small impact through next year, but it will be more drowned out by any recovery we actually get.
I’m far more curious why every conservative twit seems to think the stimulus was supposed to work within 3 months.
Because they aren’t accountable for anything.
And the market reacts
-249.85
Remember all the Green Jobs our taxes would pay for…well they are being outsourced to China…apparently Green tech has already been moved offshore to take advantage of cheaper labor…for example, Texas is buying China Wind turbans…lots of them…with the green money…
Lone Star, Meet Red Star: China’s $1.5 Billion Wind-Power Deal in Texas
http://blogs.wsj.com/chinarealtime/2009/10/30/lone-star-meet-red-star-china%E2%80%99s-15-billion-wind-power-deal-in-texas/
I was trying to think of something clever to say about all of this but I’m I’m thinking we are really screwed this time.
Maybe we need another world war to clear the air again.
Alfred, I think you meant turbine. A turban is a headdress consisting of a long scarf-like single piece of cloth wound around the head.
Can I please have one of those jobs. This ‘recovery’ has allowed me to switch to part-time employment…it’s so exciting…maybe next I can be in a food bank.
#15 “But wingnuts have never been known for coherent criticism. On the one hand, Obama’s a commie socialist who’s gonna destroy our capitalist way of life OMFG and create a socialist hellhole”
Just remember that under Bush unemployment was often around 4%.
Now … what’s my point (considering that I am a fan of neither party but very liberal)?
By the way, your post #20 for the co-win!
#20 Job exporting began in earnest in the 60′s, in the Merchant Marine…ships were reflagged, and re crewed cheaply.
No one cared because the American consumer benefited from lower prices…
While labor costs drives some of this…taxes and all the other overhead on production drives it.
Democrats will hasten the process…to reverse it…we need to shift cost away from production to consumption…
Precisely what is antithetical to the left.
You have to decide..either captialists and profit is evil…and it must be taxed and regulated to death…and all production will leave…
Or you won’t kill it, and production will return…
But then what will become of your left loon redistribution of wealth policies?
You will be conservative then.
But in this article:
http://reuters.com/article/topNews/idUSTRE59T2QP20091030
Vice-President clearly says that the stimulus package has created over a million jobs.
He can’t be wrong can he?
# 4 theweerdough said,
Careful now, I think the government’s fluoridated ability to spin numbers is rubbing off on you..
I believe, it’s $230,769.23 per job.
Judging by sea of red across the board on the markets today, I think everyone else did the math too.
Just one day off from the Black Tuesday anniversary of the ’29 crash.
I suspect Monday we will see an even larger sell off..
The biggest joke was the report yesterday of the 3.6% growth in 3Q GDP.. -coupled with a decrease in consumer spending and confidence, in a 70% consumer driven economy.
…mmmkay
I suppose no one stopped for a moment and thought.. “hmm..i wonder if that $3billion dollar government “cash for clunkers” injection into the economy might of had an “artificial” effect on that figure.
Remember the commercial real estate bomb that we have been watching tick down to detonation..?
Well, on Monday the 26th, “Capmark Files for Bankruptcy With $21 Billion in Debt” (which has seemed to escape the MSM, of course..)
“Capmark provides mortgage financing and portfolio management services for investors in apartment buildings, offices, industrial property, shopping centers and malls.”
“The company, formerly known as GMAC Commercial Holding Corp., services more than $360 billion of debt”
The big names named that will lose money in the article are:
GMAC
Goldman Sachs Group Inc. ”
Citibank NA,
Deutsche Bank Trust Co. Americas”
Article link
Gee…didn’t all these guys just get billions in bailouts and even reported billions in profits recently??
(tic, toc, tic, toc…)
Still believe the worst is over?? (or anything you hear in the news?)
On Oct 25th, 1929, 3 days before the crash of ’29.. “the papers were abuzz with the “worst is over”
It’ll be interesting to see if we make it to Monday, or through the week without some “incident” over the weekend happening to blame the continuing crash on so the administration could say “drat, our outstanding economic stimulus actions have been dashed by the nefarious actions of [insert favorite gov boogie man of the day here]..had this not happened, economic growth would have been astounding!”
All sorts of bubbles are about to pop…
last tidbit.. at the open of the NYSE this morning, there was such a flood of sell orders in the cash equities market that the system “crashed” for a short while..
How convenient..
(search on “NYSE open disrupted by flood of orders” for the details..)
-s
“Save AND Create” is what Obama was saying!! Get it right white boys!
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 finally will achieve what the loons want…third world status where every other country is richer…serves them right.
#36 Your racism is showing…fact is, all the loons in congress want the same as Obama…the destruction of our evil way of life…creature comforts and all…its evil to have a car…a boat…that should be reserved for the politburo.
Did my embed work?
I guess my embed didn’t work, what is the trick to embed an image into a comment?
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