| fastyxx said: CBO said that stimulus added or saved between 1.4 and 3.3 million jobs and lowered unemployment by as much as 1.8% in the 2nd quarter. How much is that worth at this point in time? Where would consumer confidence be now if unemployment were in the mid 11% range? Where would we be with another 1.5%- 2.5% of the workplace out of jobs? Where would businesses be without an additional couple million out there spending as employed individuals? We've used the CBO to throw stones at the stimulus. (Though as I pointed out, this was somewhat baseless, though Mafoo chose to not respond to that critique.) So are we now going to accept the CBO's analysis that the stimulus was indeed successful if not perfect? |
What methodology does the CBO use to determine that a job was saved? It is up to the individual (or group) who makes a claim to prove that it is true rather than force someone to demonstrate that their statement is untrue; otherwise an idividual could argue that Emo music has prevented countless terrorist acts because there has not been a terrorist act since Emo music became popular.
The reality of the stimulus is this, being that the stimulus did not employ individuals to do work to produce a good or service that people would willingly pay for, as soon as the stimulus spending is removed any job created through the stimulus will disappear; and any of the money that cycled its way through the economy and (supposedly) "Saved" jobs will be gone. Since there is little valuable infrastructure produced from this stimulus, the only lasting effect it will have is expanding the national debt by $7,200 per household; and increasing the yearly interest payments on the national debt by tens of billions of dollars every year.
