WH: Stimulus ‘Widely Recognized to Have Broken the Back of Recession’

story from CNS News
July 16, 2012

WH: Stimulus ‘Widely Recognized to Have Broken the Back of Recession’

(CNSNews.com) - White House Press Secretary Jay Carney said last week that the $831 billion economic stimulus law that President Barack Obama signed on February 17, 2009 is “widely recognized to have broken the back of the recession.”

The "Giveaway"......
widely recognized
wrong words Jay. Sorry.


This poor kid Jay Carney.

He must really be getting some premium pay and benefits to keep taking all the heat !!

What a scapegoat. And he looks so innocent on top of it.

When President Obama signed the law three and a half years ago, the Congressional Budget Office estimated it would cost $787 billion. Since then, the CBO has revised its estimate, eventually concluding the stimulus cost $831 billion.

"Cost" over runs already ?


Here's some more "Stimulating" facts you can bank on !

In January 2009, the month before Obama signed his stimulus, the national unemployment rate was 7.8 percent, according to the Bureau of Labor Statistics. It has not dropped below 8 percent in any month since then. In February 2009, it hit 8.3 percent. In June 2012, it was 8.2 percent.

In January 2009, there were 12,049,000 unemployed people in the country, meaning there were that many people age 16 and older who wanted a job, had actively sought one in the previous four weeks, but had not been able to find one. In June 2012, there were 12,749,000 unemployed people—or 700,000 more than there were the month before Obama signed the stimulus.

They forgot to tell us that it also broke our backs too !!


Read the article for more glory.


"Carney: Stimulus "Widely Recognized To Have Broken The Back Of The Recession"

It's official. This story confirms it. Inter-Dimensional Travel is possible! They've demonstrated beyond reasonable doubt that they do, in fact, live in another dimension.

They sure as heck don't live in the one I happen to sit in. I can look right now and find unemployment figures north of 20% in some ....hell..MANY areas around the nation and then numbers like Calexico which...Golly...just kinda got scratched out when I was looking a few days ago. The last 3 years of them. LOL... They'd lead the bad news for the state as I'd seen it prior to ..whatever they want to call the reason the numbers aren't there now.

Damn.. I would like to move where they are though. If Obamaland has a recovery all can see and enjoy, I just need a map...because it's nowhere I'm familiar with.

reply to post by xuenchen


I'm not sure if you have noticed or not...but you are praising Obama.

Putting a next to the statement doesn't make it untrue...the Stimulus did break the recession...all facts and figures confirm this.

You can continue to pretend that we are in a worse economy than when Obama took office...but people are being hired now instead of fired...people's retirment accounts are now growing again instead of being destroyed...and companies are making profits rather than taking losses.

I know you think you can trick people with silly pictures and faces...but it just looks very very desperate on your part.

Passing the porkulus was supposed to have prevented unemployment from going over 8%.

We haven't been close to 8% since.

Anyone else hear the report that consumer spending was down last month over the month before?

Some recovery we got going on here.

Originally posted by Carseller4
Passing the porkulus was supposed to have prevented unemployment from going over 8%.

We haven't been close to 8% since.

Anyone else hear the report that consumer spending was down last month over the month before?

Some recovery we got going on here.

The retail sales report was worse than ever !!

The retail sales report says that June 2012 showed a downward trend for a 3rd straight month.

This hasn't happened for almost 4 years !!!!!!!!!!

It appears that whatever economic "growth" exists, it's not much and getting worse.

They keep telling us that the "recession" ended a couple of years ago !!!

Can't prove it by me

Too much talk and not enough action if ya ask me.

Where's the jobs ?

Where is all that money going ?

Who has it now ?

thread --> www.abovetopsecret.com...

reply to post by OutKast Searcher


I don't disagree with you assessment of the current economic winds.

BUT. How much of that is attributable to blowing up our balance sheet and printing a hell of a lot of money is still a question to be answered. Blowing up credit aggregates artificially does not a healthy economy make.

There's also the question of manufacturing slow downs in the US, continued foreclosures, and the sovereign debt crisis in the EU which threatens contagion effects in the US and elsewhere. Not to mention our own banks seem to be sitting on large piles of inter-bank debt and IOUs that they may not get anything from...I think it's still too early to call. If anything we've managed to create a zombie economy.

Again, while I'm not disagreeing with the overall outlook, I just don't see the soundness of praising the stimulus for it, nor do I see the long term effect of printing money and artificially expanding credit aggregates as a means to stability...Again, long term.

reply to post by xuenchen


With manufacturing slow downs come weak retail sales. And eventually, IF the trend continues, more layoffs. Which means we'll be back to square one. The problem with spending policies like the stimulus is the fact that you can get stellar short term effects. But in the long term SOMETHING has to replace government spending, preferably, something with economic value that doesn't involve taking money from one pocket and putting it in the other.

Another point I'd like to add is that while hiring does seem to be spurring for now, the jobs that are becoming available aren't exactly high end, and high end jobs used to pay more than they used to. Your dollar also used to buy more too. These things are a sure sign that the short term effects of the stimulus and QE policies from the FED are beginning to wane.

Originally posted by OutKast Searcher
reply to post by xuenchen

 

I'm not sure if you have noticed or not...but you are praising Obama.

Putting a

next to the statement doesn't make it untrue...the Stimulus did break the recession...all facts and figures confirm this.

You can continue to pretend that we are in a worse economy than when Obama took office...but people are being hired now instead of fired...people's retirement accounts are now growing again instead of being destroyed...and companies are making profits rather than taking losses.

I know you think you can trick people with silly pictures and

faces...but it just looks very very desperate on your part.

I am curious do you really believe all that or are you on the payroll?

I know no one who is better off today than they were in 2008. I know no one who thinks the stimulus was a good thing. Who is the head cheerleader Carney trying to convince? Us or himself?

Is there anything that Obama has done or not done that you won't cheer?

IMO if a leader were doing a good job the numbers would speak for themselves and not necessitate daily pep rallies. If you are yelling look at me, look at me! What are you hiding you don't want us to see?

Do you get a uniform and pom-poms to go with the cheer squad?

I would not put Barak Obama in charge of my oil change let alone my economy.

I have seriously seen college kids with better leadership skills. At least they know that 3 years into a change of leadership you can't still be blaming your predecessor. That is weak sauce.

reply to post by Golf66


It's not so much about cheerleading but more about giving a different perspective. Otherwise this is just one big circlejerk of one-sided opinions.

The stimulus did work, it would've worked better but the democrats compromised on a lower cost. So this accusation that the stimulus 'promised' to not bring us above 8% was only made with the idea that it would be twice the cost of what was passed.

lol, it couldn't be the

$1.4 trillion in the last two wars.

Could it be the 2.5 trillion we are currently spending for SS, and Medicare/Medicaid?

Could it be that over 10 milliion have been added to the welfare payroll?

Wonder what opinion the 88 milllion out of work./underemployed Americans have of the last 3 and half years?

Wonder what the million of people who are still upside down in the mortgages have?

Wonder what those same people think when they are told that it will be over a generation before the housing market recovers?

There is over 10 trillion dollars of fiat currency in circulation

The recession over?

Delusional.

www.usdebtclock.org...

The only thing the stimulus paid for is lawyers,unions,viagra etc.

reply to post by neo96

There is one additional thing the stimulus bought. Perhaps more the whole point of it than anything else. It bought them time. Time to take a few more trips around the dance floor and a few more years of living large while the ship settles and continues taking on water. Without it, I agree with one thing they say. We would have been down already. It would have been a few less trillion on the whammy too...

It's nuts out there!

reply to post by xuenchen


Well Jay is just a complete idiot. How dare he word it that way when we all know all he is talking about are economists and people in the know. He is not even beginning to consider strangers with cool nicknames and neat pictures that hang out on online forums pretending to be different things like cops and religious and honest.
Pffffffffffft.

Originally posted by projectvxn
reply to post by xuenchen

 

With manufacturing slow downs come weak retail sales. And eventually, IF the trend continues, more layoffs. Which means we'll be back to square one. The problem with spending policies like the stimulus is the fact that you can get stellar short term effects. But in the long term SOMETHING has to replace government spending, preferably, something with economic value that doesn't involve taking money from one pocket and putting it in the other.

Another point I'd like to add is that while hiring does seem to be spurring for now, the jobs that are becoming available aren't exactly high end, and high end jobs used to pay more than they used to. Your dollar also used to buy more too. These things are a sure sign that the short term effects of the stimulus and QE policies from the FED are beginning to wane.

edit on 16-7-2012 by projectvxn because: (no reason given)

edit on 16-7-2012 by projectvxn because: (no reason given)

edit on 16-7-2012 by projectvxn because: (no reason given)

Exactly this. Government spending is only meant to be a short term fix. Once things are stabilized and the well is primed the private sector takes over to speed it up and keep it going. However we have now outsourced and "right to work ourselves for less" that there isn't enough in the pool that matters most to keep it going. No amount of stimulus is going to do anything substantial until we address our manufacturing and trade issues while not settling for Chinese level salaries and living in the company town. The very thing Romney will not address and how he wants to see American workers living.

reply to post by KeliOnyx


Romney's record speaks for itself. He is outspoken against China. What's Obama done?

www.thepoliticalguide.com...

Improve enforcement at the border to ensure that counterfit goods are not brought into the US from China

Protect and pursue legal rights by having the Office of the United States Trade Representative pursue all significant claims of unfair trade practices, and have a more active role in encouraging private firms that have been victimized to raise claims both in U.S. courts and at the WTO.

Impose targetted tarrifs or sanctions on Chinese firms or industries that rely on unfair practices or misappropriated American technology for their competitive advantage.

Have the Department of the Treasury in a Romney administration designate China a currency manipulator and have the Department of Commerce impose countervailing duties.

End US government procurement of Chinese goods until China agrees to the WTO’s Government Procurement Agreement