I've always believed that President Obama will take credit for saving 2 million jobs as long as there are 2 million jobs left in the United States. But his jobs report apparently goes beyong this, the Associated Press reports, taking credit for saving jobs that really don't exist.
WASHINGTON — President Barack Obama's economic recovery program saved 935 jobs at the Southwest Georgia Community Action Council, an impressive success story for the stimulus plan. Trouble is, only 508 people work there.
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Trouble is, there are some who do not care or know the reality.
For countercyclical spending, they really need to stick with the basics. Extension of unemployment benefits. Broadening eligibility for food stamps. Social Security tax holidays. Moderately increased spending on carefully selected public works and R&D efforts.
Get some money to the people who need it most, and let the market sort out what needs to be sorted out. Don't turn it into a pork bonanza, don't subsidize unproductive industries, and resist the urge to attempt complex feats of social engineering.
__________________ NOTE: To posts seriously comparing Barack Obama to Adolf Hitler, I respond only with pictures of cute, fuzzy animals.
Tell them they have to pay off their mortgage, or buy a house.. which will stimulate the housing market.
Tell them to invest in private insurance, and cancel Medicare program and expand Medicaid to include those who are making 24,000 or less.
Tell them they all have to buy a new vehicle, thus helping stimulate the automotive industry.
All people over the age of 50 who accept the stimulas money must quit their job, thus making room for new people to have jobs. These things alone will go a long ways towards new small businesses for those who are not ready to retire and would love the opportunity that this stimulas money will allow them to become their own bosses.
__________________ Since the Torah is a finite book expressing the will of an infinite God, many lessons must be derivable from each passage from all the infinite angles.
The sad thing is people actually believed increased government spending would save jobs to begin with despite the fact the CBO and most economists thought it would actually be detrimental in the long run. All the government is doing is taking money from the private sector and thinking they can spend it better than it can which is not going to happen.
I would have been favor of stimulus spending if it had been on things such as research on future technologies, subsidies to small businesses, and improving education in some form..investments that pay long term dividends and would enable us to grow the economy so we could more easily pay back the debt. Instead we get money for story tellers and bridges for Microsoft.
__________________ "Over the years, the United States has sent many of its fine young men and women into great peril to fight for freedom beyond our borders. The only amount of land we have ever asked for in return is enough to bury those that did not return." -- Colin Powell
"We must always remember that America is a great nation today not because of what government did for people but because of what people did for themselves and for one another." -- Richard Nixon
The sad thing is people actually believed increased government spending would save jobs to begin with despite the fact the CBO and most economists thought it would actually be detrimental in the long run. All the government is doing is taking money from the private sector and thinking they can spend it better than it can which is not going to happen.
I would have been favor of stimulus spending if it had been on things such as research on future technologies, subsidies to small businesses, and improving education in some form..investments that pay long term dividends and would enable us to grow the economy so we could more easily pay back the debt. Instead we get money for story tellers and bridges for Microsoft.
We do need a balanced budget amendment that would require our representatives to do a cost/benefit analysis before they add spending items to a bill. That is the only way to save us from our fiscal insanity.
__________________ "Over the years, the United States has sent many of its fine young men and women into great peril to fight for freedom beyond our borders. The only amount of land we have ever asked for in return is enough to bury those that did not return." -- Colin Powell
"We must always remember that America is a great nation today not because of what government did for people but because of what people did for themselves and for one another." -- Richard Nixon
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