Does Anyone feel like Bailing

Originally Posted by classicman

At this point, whatever. These threads have been drifting and crossing so much that they've basically melded together.


Do you think it worked? With underemployment and unemployment at what now 17-18% ? Do you think it worked?

Hey, my question was just a discussion stimulus, but you can bail out and not respond.

And, yes, I think we had to do something to stimulate the economy that was on the brink of disaster and, I agree with many economists who believe it has contributed to slowing the economic downtown and ending the recession sooner than otherwise would have occurred. Employment is always the last to recover.

We can quibble on the numbers, but there is no doubt that it helped save or create hundreds of thousands of jobs.

IMO, government action was necessary and is still needed.

[TheMercenary]

Originally Posted by Redux

We can quibble on the numbers, but there is no doubt that it helped save or create hundreds of thousands of jobs.

Great job. To bad we have lost millions of jobs. Hundreds of thousands is just pissing in the wind.

[classicman]

Originally Posted by Redux

We can quibble on the numbers, but there is no doubt that it helped save or create hundreds of thousands of jobs.

How many? Lets ask three members of the administration. . .

White House advisers appearing on the Sunday talk shows gave three different estimates of how many jobs could be credited to President Obama’s Recovery Act.

Valerie Jarrett had the most conservative count, saying “the Recovery Act saved thousands and thousands of jobs,” while David Axelrod gave the bill the most credit, saying it has “created more than – or saved more than 2 million jobs.” Press Secretary Robert Gibbs came in between them, saying the plan had “saved or created 1.5 million jobs.”

Their remarks in context:

Axelrod, on CNN’s State of the Union: “But understand that, in this recession that began at the beginning of 2007, we've lost 7 million jobs. Now, the Recovery Act the president passed has created more than — or saved more than 2 million jobs. But against 7 million, you know, that — that is — it is cold comfort to those who still are looking.”

Jarrett, on NBC’s Meet the Press: “The Recovery Act saved thousands and thousands of jobs. There are schoolteachers and firemen and— and— teachers all across our country, policemen, who have jobs today because of that recovery act. We're investing in infrastructure. We're investing in public education so that our kids can compete going forth into the next— generation.”

Gibbs, on “Fox News Sunday”: “Well, Chris, let's take for instance the example you just used of the stimulus package. We had four quarters of economic regression in terms of growth, right? Just last quarter, we finally saw the first positive economic job growth in more than a year. Largely as a result of the recovery plan that's put money back into our economy, that saved or created 1.5 million jobs.”

Link

Originally Posted by Redux

IMO, government action was necessary and is still needed.
Most of the recovery money has yet to be spent (by intent) and is directed towards retooling the economy by focusing on developing new energy technologies, a national broadband network, wide spread infrastructure improvement, investments in health technology, investments in education...

I agree that action was and now still is needed, but it should have addressed actually creating jobs first. As you said the first phase of this money was NOT directed at that. I believe that is where it should have been.