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Obama’s stimulus beginning
to drag economy down

WashingtonTimes, by Stephen Dinan

Original Article

Posted By:Dreadnought, 2/21/2014 11:57:26 PM

President Obama’s stimulus may have boosted the economy when it passed in 2009, but it’s now beginning to take a toll and will soon begin to leave the economy worse off than if it had never passed, according to a new report Friday by the Congressional Budget Office. Mr. Obama signed the stimulus into law five years ago this week, vowing it would help rescue the economy from its post-Wall Street collapse tailspin, and saying it would save millions of jobs. The CBO said it’s been successful at that, helping sustain between 700,000 and 3.6 million jobs at its peak

      


Post Reply  

Reply 1 - Posted by: ketchuplover, 2/22/2014 12:12:34 AM     (No. 9741909)

Yeah. What percent of the ´jobs´ that it "saved" are bloated govt. jobs?

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Reply 2 - Posted by: RedWhiteBlue, 2/22/2014 12:43:59 AM     (No. 9741920)

But we´re really looking forward to his promised and paid (robbed) for by the tax payers SHOVEL READY JOBS that will fix our decrepit roads without raising our taxes again to pay for them! I know I know!!!!

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R-VAR_AD


 
Reply 3 - Posted by: berthabutt, 2/22/2014 12:50:47 AM     (No. 9741921)

The Emperor has no shovel.


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Reply 4 - Posted by: otronome, 2/22/2014 1:32:53 AM     (No. 9741924)

What BHOnehead stimulates is sloth, laziness, fraud, victimization and destitution.

People working = higher (average) standard of living
People not working = lower standard of living

Right now we have policies that are guaranteeing a lower average standard of living by giving bonuses to DEADBEATS and killing savers.

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Reply 5 - Posted by: Timber Queen, 2/22/2014 1:47:47 AM     (No. 9741927)

I´m sure the "experts" will be "surprised" that borrowing/printing $1 trillion and using it to bolster the public employee unions, finance bogus "green energy" projects, and extend unemployment to 2 years, ends up being a drag on the economy.

Go figure.

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Reply 6 - Posted by: ZurichMike, 2/22/2014 2:15:44 AM     (No. 9741929)

"Beginning"?

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Reply 7 - Posted by: MirJoy, 2/22/2014 6:46:45 AM     (No. 9741992)

I wonder if Obama´s purpose in borrowing more and more for everything and anything is to deliberately collapse the dollar; all the while, a decision on whether or not to build the Alaskan pipe line keeps being postponed.

I´m a retired second grade teacher; never took an economics course in my whole life, but it seems people or countries should have jobs before they get another credit card.

God only knows what´s in the minds of the select few who make the decisions for us all.

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Reply 8 - Posted by: pineledger, 2/22/2014 6:51:00 AM     (No. 9741994)

Sooner or later bills come due. The Boy King has maxed us out. What, me worry?

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Reply 9 - Posted by: MirJoy, 2/22/2014 6:54:09 AM     (No. 9741997)

And I don´t believe that the President is one of the few.

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Reply 10 - Posted by: bugger, 2/22/2014 7:28:25 AM     (No. 9742021)

Yes, that is his purpose #7. The Cloward-Piven strategy. It is evident in everything he "does".

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Reply 11 - Posted by: Shucky, 2/22/2014 8:10:02 AM     (No. 9742064)

Almost all of the new jobs have been part-time, or government jobs that increase the tax burden and regulatory burden on the private sector. Either the left doesn´t understand economics, or the harm they are doing to even the poorest of people in entirely intentional.

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Reply 12 - Posted by: stablemoney, 2/22/2014 8:10:19 AM     (No. 9742065)

Obama spent the money on democrat friends, all of no benefit to the country. Now at last, the CBO tells the truth that the stimulus takes money out of the productive private sector and throws it away on overhead in the government sector. Mises, Hayek, Friedman, Bastiat, Say, Smith, and other economists told us that many years ago. Fools, a wholly inadequate description, run this country.

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Reply 13 - Posted by: quantumman, 2/22/2014 8:11:51 AM     (No. 9742072)

The stimulus is/was (it´s ongoing since the debt ceiling base got reset the first time around) the first body blow to the economy and jobs. The second and, I hope not fatal one, is Obamacare which will cause millions to lose jobs this year, in addition to their health insurance.

God help us - I am not sure he will this time without great suffering. He is teaching us a lesson by sending us Obama I am afraid.

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Reply 14 - Posted by: Globalwarmer, 2/22/2014 8:12:07 AM     (No. 9742073)

I know, let´s raise the minimum wage!

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Reply 15 - Posted by: Freeloader, 2/22/2014 8:25:10 AM     (No. 9742089)

And guess what sports fans? Chairman Barry´s "game plan" is working like a "charm"---"The theory of Communism may be summed up in one sentence---Abolish all private property."
-Karl Marx

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Reply 16 - Posted by: jeffkinnh, 2/22/2014 8:41:44 AM     (No. 9742104)

The only way that government spending can truly stimulate the economy is when it energizes business to sustainable growth. The wealth thus created eventually helps to repay the government spending. Along the way it also creates jobs and often secondary growth to service the primary beneficiaries.

Further, in THIS specific case, a considerable amount of money was payoff to BO´s cronies and money to states to keep them from facing their own financial problems. As stated, it preserved government jobs that should have been dropped because they could no longer be afforded. Instead of being guided by economic forces to jobs the Country needed, people protectively remained in jobs that we not productive and were dead ended when the stimulus money ran out.

The sad thing is, this was completely predictable. We have lots of experience with this type of spending and it NEVER works. BO and his buddies LIED about it, just like they lied about keeping our health care and doctor and saving $2500 a year. How pathetic is a country that doesn´t recognize a charming snake oil salesmen and even after buying a batch and getting sicker proceeds to buy even more from the crook.

How dumb is this country?

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Reply 17 - Posted by: Flyball dogs, 2/22/2014 8:44:36 AM     (No. 9742108)

With a nod to our Hostess, we have shovel-ready citizens, since we´ve been shoveling since we first heard the Boy king speak.

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R_DBL_B
  


 
Reply 18 - Posted by: Nan, 2/22/2014 8:49:15 AM     (No. 9742117)

Beginning to drag it down?

Where have you all been, the economy has been in a downward spiral since the day our ´traveler´ president took office.


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Reply 19 - Posted by: M2, 2/22/2014 8:56:48 AM     (No. 9742127)

I don´t buy this:

The CBO said it’s been successful at that, helping sustain between 700,000 and 3.6 million jobs at its peak in 2010.

"...helping sustain" those jobs? What does that mean? Those jobs could have "sustained" themselves just fine without the "simulus". It was clear from the moment TARP was passed that jobs started heading south fast. Job losses began before that, when the American business community realized that a socialist was just elected. They beat the rush in firing people, out of uncertainty. TARP made it worse.

You could hear the sucking sound of money leaving the private sector the second the bill was passed, so how did the stimulus "help sustain" jobs?

I don´t buy that. Still, it´s good to know that it´s finally caught up with His Shovel-Readiness.

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Reply 20 - Posted by: ASAvet, 2/22/2014 9:46:21 AM     (No. 9742192)

Obama is the result of letting idiots vote. I´m reminded of Rush´s comment that America will likely survive Obama, but probably not the idiots that elected him because they´ll vote again. Remember, Hillary is waiting in the wings.

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Reply 21 - Posted by: ADNova, 2/22/2014 10:09:05 AM     (No. 9742212)

8 more years of Hillary Clinton pursuing these lame and outdated economic policies should just about finish us off.

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Reply 22 - Posted by: nevernaught, 2/22/2014 11:14:28 AM     (No. 9742285)

Beginning?.. the Wall Street Journal said recently that the actual unemployment figure is 37.2% and getting worse. If that isn´t dragging the economy down, then just add the chaos Obamacare is adding to the total picture and you begin to see total darkness at the end of the tunnel.

This country is teetering on the brink of being another Ukraine. I know people in business and they are completely unsettled on our future.

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Reply 23 - Posted by: JediJerry, 2/22/2014 11:36:51 AM     (No. 9742320)

The government does not create jobs. Government destroys jobs. Borrowing money and spending it frivolously is not conducive to growing anything but debt. It´s like this. I want to grow my income (economy). I go to all of my credit card companies and get my credit lines maxed out and apply for new credit cards. I then take cash advances out an all of them. Then I put all of the cash in to my checking account. I just grew my income. to the limits, and then spend the money on solar panel manufacturing stocks, lottery tickets, and gave a lot of it to my heroin addict relatives and alcoholic neighbors, and took a lot of lavish expensive golf vacations.

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Reply 24 - Posted by: MattMusson, 2/22/2014 12:20:51 PM     (No. 9742384)

Anyone else remember how he promised the Stimulus would force unemployment below 5%?

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Reply 25 - Posted by: strike3, 2/22/2014 12:29:04 PM     (No. 9742393)

Obama has millions of imitators now living in ghettos across the country, maxing out credit cards, buying bling, not working, livin´ it up on OPM. The only difference - actually, there´s no difference. He just has a higher credit limit, thanks to congress.

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Reply 26 - Posted by: lewis1940, 2/22/2014 3:10:15 PM     (No. 9742547)

Someone wrote "We now have a s----- r---- p--------" in the Must Reads of the day. Be careful what you write, you might get a visit from the SS.

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