CBO: Stimulus bill created up to 2.1 million jobs

CBO: Stimulus bill created up to 2.1 million jobs (Full Version)

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rulemylife -> CBO: Stimulus bill created up to 2.1 million jobs (2/23/2010 2:22:01 PM)
CBO: Stimulus bill created up to 2.1 million jobs WASHINGTON – The economic stimulus law added between 1 million to 2.1 million workers to employment rolls by the end of last year, a new report released Tuesday by congressional economists said. The nonpartisan Congressional Budget Office study also said the $862 billion stimulus added between 1.5 to 3.5 percentage points to the growth of the economy in 2009. The controversial stimulus law combined tax breaks for individuals and businesses with lots of government spending. The report reflects agreement among economists that the measure boosted the economy. But the wide range of estimates means it won't resolve the debate over how effective the stimulus has been. The White House says the stimulus bill has created 2 million jobs and will add another 1.5 million this year as economic recovery continues to take hold. CBO projects that the stimulus measure to have a greater impact this year, boosting gross domestic product by 1.4 to 4 percentage points and lowering the unemployment rate by 0.7 to 1.8 percentage points.

Thadius -> RE: CBO: Stimulus bill created up to 2.1 million jobs (2/23/2010 3:30:35 PM)
Seeing as they used the GAO rules for counting a job as created, this report is much of the same old same old. I do like the last line of the article though, at least there is some admission even if it is small. quote: The White House acknowledges the long-term debt burden of the stimulus measure will place a slight drag on the economy in future years. As a side note, consumer confidence is down 20% this month. Go us.

Brain -> RE: CBO: Stimulus bill created up to 2.1 million jobs (2/23/2010 6:40:58 PM)
The stimulus did a lot of good. There are 290 bills stuck in the Senate now and they can do a lot of good too. Sen. Udall, Democrat New Mexico, proposes changing Senate rules on the filibuster. He wants to change the threshold to 55 and he also wants to change it so you actually have to stand up and filibuster if you want to do it. Sen. Udall wants to change the rules to a simple majority of 51 to get healthcare, energy, and global warming bills passed.

Thadius -> RE: CBO: Stimulus bill created up to 2.1 million jobs (2/23/2010 6:46:06 PM)
quote: ORIGINAL: Brain The stimulus did a lot of good. There are 290 bills stuck in the Senate now and they can do a lot of good too. Sen. Udall, Democrat New Mexico, proposes changing Senate rules on the filibuster. He wants to change the threshold to 55 and he also wants to change it so you actually have to stand up and filibuster if you want to do it. Sen. Udall wants to change the rules to a simple majority of 51 to get healthcare, energy, and global warming bills passed. It will take 67 votes to change the rules on filibusters, so in my humble opinion I would say it ain't gonna happen. See part one of my reply in regards to other rules changes in the Senate.

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