Originally posted by KunsooThat's nothing.
The CBO says the stimulus created or saved nearly 4 million jobs.
If you give me 787 billion, I can immediately create 7.86 million jobs* which will pay $50,000/year (plus $50,000 in benefits).
I can do it tomorrow. I don't even need the whole sum in advance. Just give it to me in monthly installments.
Nobel Prize-winnning economist Paul Krugman supports my being employed to do this, by the way. He says the first stimulus was too small.
*Not including my own job -- so +1. My fee for creating all these jobs you may have noticed will be a mere one billion dollars. But think about the benefits -- not the least of which is RE-ELECTING Obama!!
Originally posted by spruce112358From what I read, there is multiplier effect too so you probably would be able to create more than the 7.86 million jobs you claimed.
That's nothing.
If you give me 787 billion, I can immediately create 7.86 million jobs* which will pay $50,000/year (plus $50,000 in benefits).
I can do it tomorrow. I don't even need the whole sum in advance. Just give it to me in monthly installments.
Nobel Prize-winnning economist Paul Krugman supports my being employed to do this, by the wa ...[text shortened]... billion dollars. But think about the benefits -- not the least of which is RE-ELECTING Obama!!
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Originally posted by spruce112358Did you read the CBO report?
That's nothing.
If you give me 787 billion, I can immediately create 7.86 million jobs* which will pay $50,000/year (plus $50,000 in benefits).
I can do it tomorrow. I don't even need the whole sum in advance. Just give it to me in monthly installments.
Nobel Prize-winnning economist Paul Krugman supports my being employed to do this, by the wa ...[text shortened]... billion dollars. But think about the benefits -- not the least of which is RE-ELECTING Obama!!
Originally posted by KunsooHere is a succinct explanation of the Keynesian multiplier
Conservatives, the modern variety, don't comprehend the multiplier.
http://www.investopedia.com/ask/answers/09/keynesian-multiplier.asp#axzz1Y3XIV3an
A little more in depth information about Keynes' theories
http://www.investopedia.com/articles/economics/08/keynesian-economics.asp#axzz1Y3XIV3an
1 edit
Originally posted by KunsooThat's the same bunch that guessed at the total cost of Obama care right??
The CBO says the stimulus created or saved nearly 4 million jobs.
created or saved........ go figure that one out...
what is the actual unemployment figure by the CBO???
it's a dam lot higher than 9%... but we all swallow that figure... and that doesn't count under employed people..
Originally posted by Hugh GlassUnemployment is calculated by the Bureau of Labor Statistics not the Congressional Budget Office.
That's the same bunch that guessed at the total cost of Obama care right??
created or saved........ go figure that one out...
what is the actual unemployment figure by the CBO???
it's a dam lot higher than 9%... but we all swallow that figure... and that doesn't count under employed people..
But you're a Conservative so I forgive you for not even knowing that much.
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Originally posted by Hugh GlassIt's funny. Conservatives used to cite the CBO as Gospel. All of the sudden they're now a "bunch." They're in the majority. The Republicans could oust the Director if they wanted, but they know that whomever they put into the position will probably come up with the same numbers. The CBO is usually run by Brookings and Heritage types. Not many liberals are appointed.
That's the same bunch that guessed at the total cost of Obama care right??
created or saved........ go figure that one out...
what is the actual unemployment figure by the CBO???
it's a dam lot higher than 9%... but we all swallow that figure... and that doesn't count under employed people..
I mean, with all this apparently erroneous information the Republicans have chosen to ignore over the past couple of years, why aren't they clamoring for reform? Calling the CBO out on its incompetence?
It's because they know that there is no incompetence. But they have their ideology. Who needs facts and data when you have your ideology?