CBO: Stimulus bill created up to 2.1 million jobs

Collarspace Discussion Forums

Home Login Search

CBO: Stimulus bill created up to 2.1 million jobs

View related threads: (in this forum | in all forums)

Logged in as: Guest

All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> CBO: Stimulus bill created up to 2.1 million jobs

Page: [1]

Message

<< Older Topic Newer Topic >>

CBO: Stimulus bill created up to 2.1 million jobs - 2/23/2010 2:22:01 PM

rulemylife

Posts: 14614
Joined: 8/23/2004
Status: offline

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.

Profile

Post #: 1

RE: CBO: Stimulus bill created up to 2.1 million jobs - 2/23/2010 3:30:35 PM

Thadius

Posts: 5091
Joined: 10/11/2005
Status: offline

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.

_____________________________

When the character of a man is not clear to you, look at his friends." ~ Japanese Proverb

(in reply to rulemylife)

Profile

Post #: 2

RE: CBO: Stimulus bill created up to 2.1 million jobs - 2/23/2010 6:40:58 PM

Brain

Posts: 3792
Joined: 2/14/2007
Status: offline

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.

(in reply to rulemylife)

Profile

Post #: 3

RE: CBO: Stimulus bill created up to 2.1 million jobs - 2/23/2010 6:46:06 PM

Thadius

Posts: 5091
Joined: 10/11/2005
Status: offline

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.

_____________________________

When the character of a man is not clear to you, look at his friends." ~ Japanese Proverb

(in reply to Brain)

Profile

Post #: 4