CBO Says Stimulus Added Up to 2.1 Million Jobs in Fourth Quarter of 2009

“The Obama administration’s $787 billion stimulus bill created up to 2.1 million jobs during the final three months of last year, according to a new report from the non-partisan Congressional Budget Office.
“During the fourth quarter of 2009, the stimulus added “between 1.0 million and 2.1 million to the number of workers employed in the United States,” the CBO said.
“The stimulus also boosted the country’s economic growth by 1.5 to 3.5 percent during the time period and lowered the nation’s unemployment rate by between 0.5 and 1.1 percentage points.
“The effects of the stimulus bill are expected to increase as the year goes on . . . ”
More ‘bad’ news for the Republicans.

There are so many things that stand out in this article, I don’t know where to start.
During the fourth quarter of 2009, the stimulus added “between 1.0 million and 2.1 million to the number of workers employed in the United States,” the CBO said.
Between 1.0 million and 2.1 million? Really? And where would these jobs be? And which number do we go by? There’s a BIG difference between 1 million and 2 million.
_________________________________________________
The stimulus also boosted the country’s economic growth by 1.5 to 3.5 percent during the time period and lowered the nation’s unemployment rate by between 0.5 and 1.1 percentage points.
Lowered the nation’s unemployment rate? Have they not seen the 11% unemployment rate? How about if these “experts” come by some of the towns across the US and take a look at the unemployment lines, the social services lines, the folks who are depressed, disgruntled and confused about NOT having a job.
________________________________________________
The CBO also said that in the fourth quarter the stimulus package increased the number of full-time jobs by between 1.4 and 3 million compared to the number of jobs that would have existed without the package.
Hold on a second. I thought we just read that the Stimulus added “between 1 million and 2.1 million jobs”. Now we read “increased the number of full time jobs by between 1.4 and 3 million…” 3 million? What happened to the 1-2.1 million? How did we get to 3 million?
________________________________________________
The effects of the stimulus bill are expected to increase as the year goes on, before falling off in 2011 and fading away by the end of 2012, the CBO noted.
So the happiness we’re feeling now over ALL these jobs that are just pouring out of the woodwork will soon fade away? Then what? More stimulus?

LOL!! Tell the folks in Detroit.

A few weeks ago, in a statement typical of his party’s propensity for propaganda, newly-minted Senator Scott Brown (R-MA) forcefully asserted that the Obama administration’s economic stimulus package, “hasn’t created one new job.”
The problem with Brown’s declaration is that it’s objectively false. On Wednesday, the New York Times published a piece on the bill’s far-reaching impact. The results expose just how deceitful and irresponsible the senator’s remarks were.
One year on, the Recovery Act is well on its way to accomplishing all of its stated objectives. Next time the junior senator from Massachusetts speaks out of turn, I suggest he do his homework beforehand.

“More ‘bad’ news for the Republicans.
Posted by: tierra | Feb 23, 2010 2:18:25 PM”
Yup and they are flipping out.

keep spinning you two…those numbers don’t reflect what the private sector sees or feels in their pocketbook.

NEW YORK (CNN/Money) — More bad news on the housing bust front: Nearly 25% of all mortgage borrowers were underwater, meaning they more on their loans than their homes are worth.
First American CoreLogic, the research firm that monitors housing equity, reported Tuesday that 11.3 million homeowners — or 24% of all homes with mortgages — were underwater as of the end of 2009. That’s up from 23% and 10.7 million borrowers three month earlier.
Nevada was the state with the worst record at 70% of all mortgaged properties underwater. That was followed by Arizona (51%), Florida (48%), Michigan (39%) and California (35%).
“Negative equity is a significant drag on both the housing market and on economic growth,” said Mark Fleming, chief economist with First American CoreLogic. “It is driving foreclosures and decreasing mobility for millions of homeowners.”

Question: How do you count a “saved” job? Answer: You can’t. There is no way to measure a hypothetical. The only measureable facts are the unemployment figures. Saying a 0.1 percent drop is “turning the corner” is a logical fallacy. Hell 0.1 percent doesn’t even cover the margin of error! What are people smoking out there!

I see our liberal lovelies (tierra and RyanC) are on the warpath already. Here’s the deal, though. Republicans or “the right” as you call them don’t have to SPIN anything on this one. Just go around the country and talk to people. Take a look at the jobless numbers (including those tagged as “underemployed”), take a look at the number of foreclosed homes, take a look at people on welfare and unemployment rolls right now, take a look at the lines in front of the unemployment offices. Remember when Obama and his band of liberals claimed that we’d be over 8% unemployment if we did not pass the stimulus bill? Well, it passed. And, what a surprise, we’re OVER 8% anyway.
And what about 2011 and 2012 when it starts to dwindle and phase out? What will the unemployment numbers be then? I suppose we COULD all join the labor unions and be guaranteed a job…or at least the pay even if we don’t work.

“Here’s the deal, though. Republicans or “the right” as you call them don’t have to SPIN anything on this one. Just go around the country and talk to people. Take a look at the jobless numbers (including those tagged as “underemployed”), take a look at the number of foreclosed homes, take a look at people on welfare and unemployment rolls right now, take a look at the lines in front of the unemployment offices.”
Republicans have plenty to spin.
Most American BLAME THEM for the economic situation.
Which is why the economic collapse was spun by the right wing not as Wall Street repackaging risky debt and leveraging themselves into oblivion but the racist accusation about the futilty of lending money to minorities.

“And now I need some one to explain me something, if 2/3 of the jobs went to education, how in the world is spending money on something that does not create wealth supposed to get us out of this Recession?”
Yeah because who needs education to create wealth in the future when we need to just immediately create wealth.
The right wing…stuck on stupid.

Wow, yeah because throwing money at education has worked wonders. In Nevada $.54 of every tax dollar in the state goes to education of our 6 billion dollar budget equaling about 3.24 billion paid out to education, we have some of the worst schools in the nation per the recent study done rating schools on test scores.
So lets just spend more money we don’t have on something that isn’t working.
Left-Wing Stupidity!

“If I Could Create One Job in the Private Sector, That’s More Than Congress Has Created in the Last 6 Months”
- Senator Evan Bayh (DEMOCRAT, Indiana)
February 2010
Who knew Bayh was a closet Right Winger?

If the stimulus was so successful,why is consumer confidence collapsing? How many jobs would be created by the simple expansion of the economy seen with the recovery from a recession-which by history we would be seeing by now,stimulus or no stimulus.Is increasing debt by 800 billion dollars good economic policy?Is it sustainable?What scares me most is the appearence of increasing interest rates-not the harbinger of economic recovery,but the advent of Weimar-era inflation.

Probably either government jobs, or temporary jobs.
Or maybe made up jobs in made up districts.

Posted by: Carol | Feb 23, 2010 4:16:46 PM posted: “I am glad that there is also news today that SOME jobs actually came from this squander. Too bad it is so puny compared to what could have been.”
Carol, I’d like to better understand what you mean by “what could have been”. Were you aware that during the Bush era, our economy created 3 Million (net) new jobs, according to the WSJ? That’s 3 Million new jobs in EIGHT YEARS.
The WORST job creation history since records have been kept.
So, if as the CBO reports, we added between 1.0 million and 2.1 million in ONE QUARTER, how is that “puny”?

Consumers aren’t buying,businesses aren’t hiring. Why?
There is just about zero trust in Obama.
He is not through wrecking the economy, the worst is not over, and he is going to raise taxes on everyone.

“What scares me most is the appearence of increasing interest rates-not the harbinger of economic recovery,but the advent of Weimar-era inflation.”
ROFLMAO!
The tin foil hat wearing birther is back to this old Glenn Beck conspiracy.
The Fed just raised the interest rate for temp bank loans indicating they might be willing to raise interest rates more broadly. Currently the key interests rates for the Fed are near ZERO.
.

“Just using round numbers, 800 billion in stimulus that saved/created 2 million jobs works out to $400,000 per worker.”
Except you are only including jobs created in the 4th Q of 2009 and applying all of the stimulus money (some of which has yet to be spent) to those jobs.

Of course, no one ever comes forward and says, “Here I am! I am a new hire!”
But when you create 50 jobs by buying a new lawnmower, it’s not that much of a leap to get to 1 million, 2 million, 3 million.
I don’t doubt that “some” new jobs were created – but 1 million to 3 million? Come on! With 14 million out of work, there would have been a major adjustment in numbers, somewhere.
And yes: I am unemployed. Got laid off New Year’s Eve.

“More ‘bad’ news for the Republicans.
Posted by: tierra | Feb 23, 2010 2:18:25 PM”
Yup and they are flipping out.
Posted by: Ryan C | Feb 23, 2010 3:11:09 PM
Yea, we’re flipping out: All the way to the voting booth in November.

Hope things turn around for you soon, FTR.
Posted by: tjp612 | Feb 23, 2010 7:16:11 PM
Thanks!

Read the first paragraph of the “appendix” as to how they came up with their “estimate.”
Appendix: Evidence on the Economic Effects of Fiscal Stimulus
The Congressional Budget Office (CBO) based its estimates of the economic effects of the American Recovery and Reinvestment Act of 2009 (ARRA) on information from various sources: macroeconometric forecasting models, general-equilibrium models, and direct extrapolations of past data. Macroeconometric forecasting models incorporate relationships among aggregate economic variables that are based largely on historical evidence. General-equilibrium models, by contrast, are built on explicit assumptions about the decision-making of individuals and businesses. Direct extrapolations of past data are generally based on correlations among economic variables in the past or the effects of specific types of policy events in the past.

“Were they taking advice from Michael Steele who blew the RNC’s haul in Jan on the meeting in Hawaii?”
The smell of desperation is palpable.
Don’t worry: In 11 months Republicans will take over the House and in 3 years Republicans will take back the WH. Then, you and the rest of the Far Left can return to a more comfortable (and frankly competent) position of expressing “outrageous outrage” rather than governing. Libs aren’t suited for governing, their life experiences are generally very limited.

Hi Center One! How are ya? Today’s headline in our paper was about closing three firestations, withdrawing all lifeguards from area beaches and closing the libraries one or more additional days..(they are now open 5 days/week.) Meanwhile, we had a foreclosed home on our street sell in 5 hours at 1/3 of its (already depressed)assessed value. (I found out the banks are being covered on their foreclosure losses by the FDIC, insurance, the VA, FHA, fannie, freddie )so no biggie for them)-really in a funk today..

Were they taking advice from Michael Steele who blew the RNC’s haul in Jan on the meeting in Hawaii?”
The smell of desperation is palpable.
Posted by: tjp612 | Feb 23, 2010 7:38:31 PM
Thanks for the chuckle, Ryan C.
tjp, c’mon. Steele has taken in less money than his predecessors and spent twice as much on things like car services, charter flights and fancy meals– while his party is giving fiscal responsibility a heckuva lot of lip service and trying to pretend they’ve changed.
Also, have you ever read the Vanity Fair article “100 to blame.” Its pretty democratic — a good read. Under ninja loan (#72):
“A term for subprime mortgages with the strict qualifying requirements of “no income, no job, and no assets,” “ninja loans” was apparently first used in ads by HCL Finance of San Jose, California. ”
Other items listed you might like, Pay-Option Negative Amortization Adjustable Rate Mortgages, the SEC, the Home Builders (think Beezer Homes), and so on.
And then there’s “infectious greed”–
“The second stage of irrational exuberance, where builders, bankers, and buyers all thought the market for luxury housing—defined as anything with a granite kitchen counter—would continue to expand indefinitely. Eventually, the disease reached pandemic proportions, and the fever spread to fashion, retailing, boutique-hotel construction, and private-jet charter services. They all succumbed to the belief that there were an infinite number of people, with an infinite amount of money, who would keep the market for high-ticket luxury items growing, forever.”
And finally, the last remarks under US Congress: “This may have been the worst financial storm since the Great Depression—caused, in part, by political butterflies, flapping their wings for entirely self-interested reasons—but unless we change our ways, it certainly won’t be our last.”
Its really hard to take people who don’t get the big picture and try to protect Wall Street and Republicans all that seriously.
What we all ought to be interested in, imho, is pressing Congress and the admin to change– and Wall Street, too, via financial regulation reform. There are no easy answers but finding a scapegoat doesn’t get us out of the mess and on stable ground.

And remember we can each make a difference: the Oregon owner of my favorite flour company, Bob’s Red Mill, just decided to GIVE his business to his employees because he though it was the right thing to do. Don’t let the bastards get you down!
Posted by: CenterOne | Feb 23, 2010 8:41:32 PM
I like your outlook CenterOne. Sorry I posted my last post before reading yours as it wasn’t as upbeat :^)
I googled Bob’s Red Mill. What a great story! From Clackamas County News:
“Moore, whose mutual loves of healthy eating and old-world technologies spawned an internationally distributed line of products, responded with a gift of his own — the whole company. The Employee Stock Ownership Plan Moore unveiled means that his 209 employees now own the place and its 400 offerings of stone-ground flours, cereals and bread mixes.
“This is Bob taking care of us,” said Lori Sobelson, who helps run the business’ retail operation. “He expects a lot out of us, but really gives us the world in return.” Moore declined to say how much he thinks the company is worth. In 2004, however, one business publication estimated that year’s revenues at more than $24 million. A company news release issued this week stated that Bob’s Red Mill has chalked up an annual growth rate of between 20 percent to 30 percent every year since.
“In some ways I had a choice,” Moore said of what he could have done with the company he founded with his wife, Charlee, in 1978. “But in my heart, I didn’t. These people are far too good at their jobs for me to just sell it.”
Bless his heart!

I don’t consider Vanity Fair a source for economic wisdom.I do see inflation as a real threat once the economy starts moving.And lastly,I would really like to have a President intellegent enough to tell the difference between California and Colorado.I would like a President who actually knows geography.

Didn’t get the pun? Bill Ritter did.

I don’t consider Vanity Fair a source for economic wisdom.
—
There’s a difference between considering something one’s source of economic wisdom, and appreciating a good article that sums up what wisdom and information can be gleaned from a wide range of sources with wit, humor, fairmindedness and edge.
Closing one’s self off isn’t particularly wise, imho. Surprise those dendrites once in a while and let them branch out in unexpected directions.

The Obama/Pelosi/Reid administration has no problem governing AGAINST the will of the people.
—
Against the will of which people, and how many?
According to Kaiser (see their website):
“The February Kaiser Health Tracking Poll finds the public still split on health care reform legislation, with 43 percent in favor and 43 percent opposed. However, the poll also finds that majorities of Americans of all political leanings support several provisions in the health reform proposals in Congress and most attribute delays in passing the legislation to political gamesmanship rather than policy disagreements.
The poll finds that at least six of every 10 Republicans, Democrats and independents back at least some of the key provisions in the reform bills that have passed the House and Senate. They include measures that would: reform the way health insurance works, such as preventing insurers from excluding people because of pre-existing conditions; offer tax credits to small businesses to help their workers get coverage; create a new health insurance marketplace; help close the Medicare “doughnut hole” so that seniors would no longer face a period of having to pay the full cost of their medicines; and expand high-risk insurance pools for individuals who cannot get coverage elsewhere. Providing subsidies to lower and middle income people also receives strong support from Democrats and independents and near majority support from Republicans.”
This is also in keeping with the new Newsweek poll which finds that the public strongly supports several important aspects of the Senate bill, and supports the bill itself once they understand it better.
Polls have also found that the majority of people *don’t* want Congress or the admin to give up, though they don’t want them to forget about jobs either.
　

I do see inflation as a real threat once the economy starts moving.
—
I’m not aware of a sensible person who doesn’t, including the President. He’s spoken about this many times. In fact, since early in 2009 he was explaining that we need shoot money into the economy to jumpstart a recovery– and then when the recovery gets some legs, we need to start working on the deficit to avoid choking inflation. Right now, however, we have mass unemployment (and inflation isn’t a problem yet).

“Is GOP planning scorched earth response if Democrats use reconciliation?”
How is this (“scorched earth response”) different from the Democrats use of reconciliation?

How is this (“scorched earth response”) different from the Democrats use of reconciliation?
Posted by: tjp612 | Feb 24, 2010 2:49:07 AM
The scorched earth response keeps the senate in gridlock, accomplishing nothing. Americans deserve an up down vote, and then a Congress that can function and move on to other issues.
Reconciliation is a practice that has been used 21 times since 1981, usually by Republicans for items in the Contract for America agenda and, with misrepresentation, for the tax Bush cuts. Its intent is the opposite of scorched earth. Scorched earth grinds everything to a halt and brinds everything down. Reconciliation wraps things up so the Senate can move on and do its job.
Scorched earth is particularly sinister at a time of mass unemployment and two wars.

tjp612,
You may also want to stay current. Just this morning there’s an article at WaPo called “Wall street shifting political contributions to Republicans”:
“Commercial banks and high-flying investment firms have shifted their political contributions toward Republicans in recent months amid harsh rhetoric from Democrats about fat bank profits, generous bonuses and stingy lending policies on Wall Street… House Minority Leader John A. Boehner (R-Ohio) told reporters this month that he was urging Wall Street executives to “help our team” oppose the “bizarre policies” coming out of the Obama administration. ”
You can also go back and read articles on the Republicans coordinating their bill killing efforts with lobbyists to defeat financial regulation reform.

Time to hoist the “Mission Accomplished” banner high above the deck of the USS Hope-n-Change! From the AP:
—Sales of new homes plunged to a RECORD LOW in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the LOWEST LEVEL ON RECORDS going back nearly a half century. The big drop was a “surprise” to economists who had expected sales would rise about 5 percent over December’s pace.—

Here’s a thought…Get off the health care issue and back on the economic issues…take some of that 1 Trillion dollars divide it among the LEGAL American tax payers to SPEND on debt obligations….or…cars…..or education expenses…or….bills….or real estate or… even health care insurance… and use the rest to pay down our national debt….It has become painfully obvious that Obama is simply using this health care bill to create a legacy as Gore tried to do with global warming…..

Posted by: We Rescued the Economy! | Feb 24, 2010 10:36:13 AM “Sales of new homes plunged to a RECORD LOW in January.”
Seriously, did you expect US housing sales to zoom back up to the level we experienced when anyone who fogged a mirror was handed an adjustable rate mortgage? This was a MASSIVE fantasy that’s not returning any time soon.
There is also the difficulty of obtaining new financing to contend with, as well as the coming onslaught of new foreclosures. Regardless who is in the White House, some analysts suggest we will not see the final bottom of the housing market until sometime in 2013.

“The scorched earth response keeps the senate in gridlock, accomplishing nothing.”
With Obama/Reid/Pelosi in control I would submit “doing nothing” is a far preferable option vs. execution of the statist agenda of these 3.
“As for “libs”, this country was founded on liberal ideals I believe in.”
Thank you for correction. I should have stated “progressives”.
“And Democrats have a much better record on fiscal responsibility and job creation.”
Even if true (which is questionable), Obama The Incompetent is on track to become the most fiscally irresponsible president ever (in fact, he may already be given that the federal deficits incurred by The One may already exceed those of Bush 43). Furthermore, I would expect that more jobs will lost during his tenure since the Great Depression.

“tjp612 – are you one of them thar Libertarians? I’m very curious. Do you think there’s a New World Order conspiracy afoot?”
No and No. Honestly, I’m not even sure what a “New World Order conspiracy” is.

“Even David Brooks (far from Mr. “Lib-think”)…”
David Brooks is far from Mr. “Conservative-Think” from my point-of-view. Perhaps from a NY Times perspective he appears “conservative” but he is not from a main-stream conservative standpoint.

Posted by: tjp612 | Feb 24, 2010 1:09:19 PM
Very interesting that you are not a Libertarian, yet also criticize GW Bush’s depletion of the budget surplus and massive expansion of federal deficits. It’s eight years of those Supply Side economics that contributed to this mess.
Keep in mind that President Obama took office roughly one year after this Recession began. There was NO job creation engine in place. Our nation had just completed the WORST history for creating new jobs since records have been kept. goggle the WSJ report on Bush era jobs – a pathetic 3 Million net in EIGHT YEARS.
Even the most conservative economists agree the economy had reached a point where stimulus spending was critical to prime the pump. We’ll continue to see debate over how much and how long, but without stimulus spending we’d be in the Hurt Locker.

“The Obama administration’s $787 billion stimulus bill created up to 2.1 million jobs during the final three months of last year, according to a new report from the non-partisan Congressional Budget Office.
“During the fourth quarter of 2009, the stimulus added “between 1.0 million and 2.1 million to the number of workers employed in the United States,” the CBO said.
“The stimulus also boosted the country’s economic growth by 1.5 to 3.5 percent during the time period and lowered the nation’s unemployment rate by between 0.5 and 1.1 percentage points.
__________________________________
Let’s see . . . stock market WAY up since Obama took office, hemorrhaging of hundreds of thousands of jobs stopped, millions of jobs created, many job saved, GDP back into the positive, and on and on . . .
Terrible news according to the Republicans . .. the Republicans are just so ‘perfect’ in all that they do.

Have you noticed the correlation to increases in health-care costs vs. increases in the government’s share of total healthcare spend?
Posted by: tjp612 | Feb 24, 2010 1:21:29 PM
Do you have a source I can look at? I read that CMS estimates that as as next year, the government could be paying for more than half of the nation’s total health care tab. Is that what you’re talking about?

tjp612 | Feb 24, 2010 1:17:54 PM posted “Throwing money at the problem will not improve the situation.” Educational attainment is a problem that is not cut and dry.
Graduation rates peaked in the 60s at 80%. Today, according to an educational advocacy group founded by Colin Powell, almost 1/2 of high school students in the 50 largest American largest cities do NOT graduate. This puts our country at risk, threatens our long term prospects, and widens the gap between rich and poor.
I encourage you to read economist James Heckman’s report called “Schools, Skills, and Synapses”. America’s educational decline is not because of falling school quality or tuition costs. The core problem starts much earlier – according to Heckman, it’s because of deteriorating family environments over the past 40 years. So what does our country do?
There are big gaps in educational attainment by age 5. Some kids are bathed in a family atmosphere that promotes education, but increasingly many are not. Heckman’s study shows it is possible by age 5 to predict who will complete college and who won’t.
I don’t think any American wants to “throw money” away, but this is an issue important enough to demand government intervention. For example, programs like Head Start are critical for these kids’ lives, for building future graduation rates, and to help our nation compete in a global economy.

“And Democrats have a much better record on fiscal responsibility and job creation.”
Even if true (which is questionable)”
ROFLMAO!
Facts apparently have a liberal bias.

“.whole sale prices raise twice as much as predicted.”
Sigh…whole sale INFLATION was higher than expected in January at 1.4%
Can you parrots at least get the BASIC facts right.

” I read that CMS estimates that as as next year, the government could be paying for more than half of the nation’s total health care tab. Is that what you’re talking about?”
Yes. Actually, from what I read we have already passed this point (govt. pays for more than 50% of all health expenditures).

Yes. Actually, from what I read we have already passed this point (govt. pays for more than 50% of all health expenditures).
Posted by: tjp612 | Feb 24, 2010 2:59:53 PM
______________________________________
Currently the health insurance industry skims off the cream from the young, the healthy and the employed – while the government is left to carry the sick, the old, the indigent and those damaged in war.

“Throwing money at the problem will not improve the situation unless other measures are taken concurrently (namely, increasing accountability of teachers…”
It’s typical to denigrate the public school system by vilifying the teachers, who are under constant attack from all sides. How about increasing the accountability of students and their parents? Public schools are not intended to be just an elaborate day-care service.

“I do think responsible communities ought to care for their poor– and some do so in truly amazing altruistic ways.”
This is true. But historically, this was done at the local level by churches, individuals, and altruistic organizations. Now, the government has moved in. And just as with most everything else, government intervention is suboptimal/inefficient.

“It’s typical to denigrate the public school system by vilifying the teachers, who are under constant attack from all sides.”
My parents are both teachers. They are frustrated by the lack of accountability of some of their colleagues.
“How about increasing the accountability of students and their parents?”
YES!

(e.g., “researchers from the NY Psychiatric Institute study why gay men in Argentina have sex after drinking alcohol”, “$2,600,000 spent to train Chinese prostitutes to drink responsibly”, etc.) and other spending is generally not productive”
Yes both were grants approved by the NIH in 2008.
The NIH is an agency that is part of the Dept of Health & Human Services.
Which branch of government runs the Dept tjp?
And who was running that branch in 2008?

“That’s quite interesting since Cash for Caulkers has yet to implemented or even put into law. The lesson as always? Right wingers lie.”
There is a difference between a lie and an error. But the Leftist will never pass up an opportunity to
Thank you for the correction – I was referring to the “weatherization” program included within the stimulus:
(2/17/10) ABC News reports that at the end of 2009, only 9,100 have been weatherized to save energy through the American Reinvestment and Recovery Act. $522 million of the $5 billion has been spent thus far, which equates to over $57,000 per home.
—————————-
Another example of inefficent government and why it should not be trusted to spend taxpayer money effectively.

“Yes both were grants approved by the NIH in 2008.”
Got sloppy. I don’t condone this spending regardless of who is sitting in the WH or who is running Congress (BTW – did a Democrat-led Congress approve this funding?).
How about these?
> Indiana University professors received $221,355 in economic stimulus funds to study why young men do not like to wear condoms.
> The NIH is using stimulus funds ($219,000) to follow female college students for a year to determine whether young women are more likely to hookup – the college equivalent of casual sex – after drinking alcohol.
> The University of Minnesota received nearly $200,000 to study the impact of sex reversal in mice.
> USC School of Social Work professor Suzanne Wenzel received nearly $2 million in stimulus money to help understand the sexual risk behavior of homeless men and their attitudes toward women.
Shall I go on? Or has the point been made?
I’m sure the unemployed are comforted government funding is going to these critical studies.

“The average increase is 23 percent and is intended to return California to a target profits of 7 percent, versus 5 percent this year.” [WellPoint email, October 7, 2009]”
Isn’t it somewhat ironic that Progressives demonize private companies who raise prices (many times to cover increased costs)”
So Wellpoint is raising premium 23% for a an increase in profit margin from 5% to 7%.
Or Wellpoint just raised premiums to increase their profit margin by over 70%.
Not to “cover costs” as tjp dishonestly posits.
BTW Wellpoint’s profit in 2009 was up 63% from 2008 if you leave out the sale of a subsidiary.

“Of course you got sloppy. Because it wasn’t an original thought. You were just parroting something you heard/read without any idea of the story behind it.”
Honestly, it is getting very difficult to keep track of all the programs Obama/Reid/Pelosi have dreamt up to squander tax payer money (you know – the tax payer money for which you advocate the government needs more, through higher taxes).

“Do you lack the courage to call for higher taxes?”
Why give more tax money to a recklessly spending government? It’s like giving money to a drug-addicted panhandler.