White House Report: Recovery Act Saved Millions of Jobs, Boosted Economic Growth

I guess riding the tax payer supported Amtrak system for all those years makes it seem like it was money well spent to crazy uncle Joe.
Does anyione have a calculator that can devide $900 billion by 3.5 million? Mine must not be working because it shows about $250k per job. Unless all of the new jobs are working for the fed, I must be making a mistake.

Does the White House actually believe this, or are they trying their hand at comedy now? I figure w/ Biden’s latest appearance on Leno, maybe that’s the case?

Funny stuff from one of the dimmest administrations ever!! So if their projection were that we would lose 20 million jobs, would they have create 17 million jobs? What a bunch of clowns. HEY OB!!! Just look at the private sector jobs added report by month, simple addition and most of it has nothing to do with the porkulus.

This is serious propaganda from the CEA. I’m sure they have the brawn to believe themselves despite the facts, but their claims do not pass the smell test. With unemployment at 9.5%, at best, Obama ‘reduced’ unemployment by 0.4% from the 9.9% peak.
This result is far worse than the 7% unemployment rate Obama predicted when he made the stimulus the law of the land.
How many times can they try to fool us? I suppose, as long as the press is willing to let their unsubstantiated and biased claims slide.

Tony T writes: Funny stuff from one of the dimmest administrations ever!!
————————————–
You were talking about the Bush admin, right?
Hey lets not regulate anyone; they’re all christians in this precious christian country. Big banks and business would never act un-christian, OOPS guess not.
Hey lets start a bogus war to find WMDs. Thoudsands dead; no WMDs, OOPS again!
Hey lets create the FIRST stimulus package. Oh that’s right the right wingers keep forgetting that one! hmmm

When will someone finally tell the emperor that he has no clothes?

CBS SHOCK POLL: 13% believe President’s policies have helped them…
‘White House waving white flag’…
Panic button…
Obama VS America

None of you repubs out there wanna talk about the first stimulus package put together by Georgie Bushie and highly supported by the Repub congress? HMMM anyone?
Once again, can’t blame Obama. Looks like Georgie Bushie screwed this one up too!

Jackson – most conservatives laughed at Bush and Pelosi’s “booster shot” stimulus that sent checks out to everyone like that would prevent a recession. Nice try though buddy.
Lesson – government policies just distort markets. Cash for clunkers increased sales during that time period, but all it really did was accelerate sales from the future. What do we see now, slow car sales. Same for the stupid homebuyers credit. A lot of houses sold during that time, probably at inflated prices, and what’s happening now that it expired, a death spiral of home sales.
Nice try though. Next time, allow conservatives to speak for themselves and just try to make good coherent arguments for your own beliefs.

MISSION ACCOMPLISHED!
hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaahahahahahah AND ON AND ON AND ON………….

And without government spending? According to studies by economists Carmen Reinhart and Kenneth Rogoff, without government assistance during such a nasty economic downturn, global jobless rates historically have risen for FIVE YEARS.
That means US jobless numbers could have been climbing until 2012. Recovery Act spending helped our nation dodge another Great Depression.

When Obama took office the economy had been shrinking at an annual rate of 6.4% and employment had already stalled a decade of outsourcing and the worst job growth on record – a pathetic 3 Million jobs in 8 years. There was no job creation engine in place in 2007 when our nation fell into this Recession.
Obama’s first focus was to recapitalize banks and return the economy to growth. Without that action, the jobless rate would be even higher.
And, according to testimony today by the Economic Policy Institute, “the Recovery Act worked as advertised. It created almost 5 Million full-time equivalent jobs and kept the unemployment rate from sitting well over 11% today.” Unfortunately, the economic crisis Obama inherited will require much more than $787 Billion.
google today’s testimony “An Assessment of the American Recovery and Reinvestment Act.”

“When Obama took office the economy had been shrinking at an annual rate of 6.4% and employment had already stalled a decade of outsourcing and the worst job growth on record – a pathetic 3 Million jobs in 8 years. There was no job creation engine in place in 2007 when our nation fell into this Recession. ”
And who had control of the House, and Senate, and budgets in 2007? That’s right. Democrats.

“You’ve got to be kidding. I’ve never seen or heard a conservative repub ever laugh at King George. ”
Obviously from your ramblings, you have never read a conservative publication. There were plenty of outspoken conservative critics of GWB. That’s not to say they disagreed with him all the time, mind you, but it still shows your statement to be pure folly.
“From what I gather, all you repubs would vote that “laughed” at joke back in office. ”
I am a conservative who disagreed with GWB on numerous issues, but I voted for him twice and I would vote for him again if the choice was him or Obama. OF course that can’t happen, but it would be an interesting poll question.

green.goddess: “That means US jobless numbers could have been climbing until 2012.”
Um, they’re still climbing. From the Bureau of Labor Statistics:
- In June, the employment level fell by 301,000 worksers, the third montly decline in a row
- Assuming the labor force to be a constant percentage of the population, unemployment rose in June to 11.5% from 11.2% in May
- The number of unemployed Amercians rose to over 18 million in June, the 2nd increase in a row
- U6a, the broader measure of unemployment, spiked above 20% again, rising to 20.4% from 19.9% in May
No Hopey-Changey here!
You see, if the economy truly is doing better, you don’t need to keep telling people. The common man on the street knows it.

Mary | Jul 14, 2010 3:21:46 PM – “You see, if the economy truly is doing better, you don’t need to keep telling people. The common man on the street knows it.”
You mean like the post below from jackson | Jul 14, 2010 1:43:49 PM? “I know many people who have gone back to work. My employer alone has doubled the new job openings and friends in Wichita say many people are getting called back to the airline manufacturing industry.”
Yes, the Recession is not over and people are still unemployed. But it appears you missed the first part from the Bureau of Labor’s web site:
“Both the number of unemployed persons, at 14.6 million, and the unem-
ployment rate, at 9.5 percent, edged down in June.”

Be prepared for more of this political rhetoric between now and November. As sure as the sun will rise.

green.goddess: “Both the number of unemployed persons, at 14.6 million, and the unemployment rate, at 9.5 percent, edged down in June.”
That’s a distortion of what happened. We know the number of unemployed increased. The unemployment rate of 9.5% was made possible only by the government’s assumption that 652,000 workers exited the labor force in June, apparently no longer needing a source of income to feed themselves and their families.
The total number of unemployed/underemployed people is currently at a record high of 25.2 million.
In many places, it’s far beyond Great Depression levels. The official unemployment rate of Detroit is still around 30%. The unofficial rate, according to the city’s mayor and local leaders, is believed to be closer to 50%. Luckily for Detroit, progressives have the answers. Pelosi recently claimed that unemployment checks are the fastest way to create jobs, so Detroit should be a utopia anytime now.

Mary – sorry I actually have to bail on blogging today – have to get back to work – those pesky customers are buying more at my small business.
But here’s some interesting reading from today’s House Budget Committee meeting: google “An Assessment of the American Recovery and Reinvestment Act.”

You know, the WH needs to learn that when people stop believing what you are selling, you either need to change the product, or change the salesperson. They won’t do the first, but we can do the second

The two questions which jump out are, what did the average job save cost in dollars and what will happen to the same job once the recovery act’s money is depleted?

dan: “Obama wrote a letter to Bernake in March of 2007 warning of an impending housing and foreclosure crisis.”
Was Obama on all the major networks making these statements? Did he call for the regulation of Fannie and Freddie to reign in the rampant corruption there?
Like I said before, Peter Schiff was warning us back in 2005 in a thick, widely published BOOK. What was Obama doing back then? Why, he was actively working with ACORN to push banks to…gasp…engage in more SUBPRIME lending to minorities! Stanley Kurtz, a Harvard scholar, documented this extensively back in 2008. Obama participated in the activities that led to the financial crisis. It’s not even disputable.

It absolutley saved jobs. Since I work in public education it saved my job and many other in the education field like myself. What’s bad are those who fail to realize that so many teachers jobs were, and are still at risk because of budget shortfalls. Teachers, police and other vital personnel lose their jobs when states don’t recieve tax revenues people.

“Did he call for the regulation of Fannie and Freddie to reign in the rampant corruption there?
McClatchy: Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication”

“Why, he was actively working with ACORN to push banks to…gasp…engage in more SUBPRIME lending to minorities!”
Why do right wingers think its ok to deny someone a loan based on their skin color or neighborhood versus their individual credit worthiness?

Any Republican president trying to take credit for “jobs saved” would be rightly roundly panned in the media… Why should Mr. Obama receive special license?

“Why do right wingers think its ok to deny someone a loan based on their skin color or neighborhood versus their individual credit worthiness?”
Why do left wingers think it is ok to distort the truth?

“President Obama’s spending very likely saved the country and possibly the world from a complete economic breakdown.Posted by: kramer | Jul 14, 2010 4:56:28 PM”
Bush initiated the TARP, to stabilize the banks, Pres. Obama stimulus was nothing but a payoff to his supporters and states that voted him into office. Pres. Obama quadruplet the debt of ALL Presidents in just 18 months, just wait and see what he can do in 4 years????? Bankruptcy or inflation here we come. Which do you think will be better????????

“check out yesterday’s testimony to Congress” – green.goddess
Oh, did someone from the administration use a higher jobs saved spin figure than the 3 million yesterday?
If so good for them.
10 million sounds a lot better than 3 million.

Some of you seem like fairly intelligent people. I just can’t believe what I’m reading. How’s that change working out for you now? At what point does one start taking accountability and making change that is actually good for Americans? When does the corruption stop? Will the politicians join hands and minds and start working for the good of this wonderful country? For freedom? For American values? For the future of our children? Let’s all commit to make change in our own hearts first, pray for change that will truly help save our country. Let’s all start making a personal impact. That’s the only way.Learn from mistakes of the past, correct and forge forward for a better tomorrow.