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Tim Leary

Erie, PA

#1 Feb 23, 2013
February 23, 2013
CBO gives Obama's stimulus an F
Dan Joppich


The Congressional Budget Office issued its quarterly report yesterday to the sound of crickets from the mainstream media (find it here).
Why would this report be Liberal Kryptonite? Because way back on page 8 we learn the lasting legacy of Obama's and the Democrats' ultimate spending spree in the name of recovery (bolds are mine):
ARRA's Long-Run Effects
In contrast to its positive near-term macroeconomic effects, ARRA will reduce output slightly in the long run, CBO estimates-by between zero and 0.2 percent after 2016...
ARRA's long-run impact on the economy will stem primarily from the resulting increase in government debt. To the extent that people hold their wealth in government securities rather than in a form that can be used to finance private investment, the increased debt tends to reduce the stock of productive private capital. In the long run, each dollar of additional debt crowds out about a third of a dollar's worth of private domestic capital, CBO estimates...
Over the long term, the output of the economy depends on the stock of productive capital, the supply of labor, and productivity. The less productive capital there is as a result of lower private investment, the smaller will be the nation's output over the long run.
So let me paraphrase what the CBO is saying here:
Government spending bad, private spending good.
Over the long run the stimulus will have a negative effect on the economy and the primary reason is due to government money crowding out private investment and the resulting unpaid debt will be a drag on the economy. It is also clear from the CBO's comments that private investment is "productive capital" and government investment is generously referred to as "less productive".
So what about the lasting effect of the $878 billion "investment" that has been 90% spent? Again from the CBO report:
CBO estimates that ARRA's policies had the following effects in the fourth quarter of calendar year 2012 compared with what would have occurred otherwise:
They raised real (inflation-adjusted) gross domestic product (GDP) by between 0.1 percent and 0.6 percent,
They lowered the unemployment rate by between 0.1 percentage points and 0.4 percentage points,
They increased the number of people employed by between 0.1 million and 0.8 million, and
They increased the number of full-time-equivalent jobs by 0.1 million to 0.8 million.
The effects of ARRA on output peaked in the first half of 2010 and have since diminished, CBO estimates. The effects of ARRA on employment are estimated to lag slightly behind the effects on output; CBO estimates that the employment effects began to wane at the end of 2010 and continued to do so through the fourth quarter of 2012. Still, CBO estimates that, compared with what would have occurred otherwise, ARRA raised real GDP in 2012 by between 0.1 percent and 0.8 percent and increased the number of people employed in 2012 by between 0.2 million and 1.1 million.
No mention here of 3.5 million jobs saved or created. After four years and almost a trillion dollars in stimulus payments, all we have to show for it is 113,691 full time equivalent jobs,$16 trillion in debt that will never be repaid, 7.9% unemployment, 14.5% real unemployment, negative GDP, and continuing record deficits.
Based on this report card, Obama gets an A for rhetoric but an F for results.
panani

Erie, PA

#2 Feb 23, 2013
Great post Timmy. Knocked out of the ballpark. Democrats stealing and wasting our tax dollars.
ben dover

Ashland, OH

#3 Feb 23, 2013
A possum in every pot and a Cadillac in every front yard.
mahwini

Waterford, PA

#4 Feb 24, 2013
panani wrote:
Great post Timmy. Knocked out of the ballpark. Democrats stealing and wasting our tax dollars.
Sorry if you didn't work hard enough, forego vacations or in other ways plan for your future.

But look at the bright side. At least they invented Topix so you can complain about what could have been if only you were wise enough.
present in translation

Waterford, PA

#5 Feb 24, 2013
ben dover wrote:
A possum in every pot and a Cadillac in every front yard.
Code for a black in every chain.
Irving Taylor

United States

#6 Feb 24, 2013
mahwini wrote:
<quoted text>
Sorry if you didn't work hard enough, forego vacations or in other ways plan for your future.
But look at the bright side. At least they invented Topix so you can complain about what could have been if only you were wise enough.
Seems to me those that work hard are the enemy of the Obama regime. It would be nice to see Obama forgo a few vacations and work on trimming the obvious deadwood such as yourself.
Flint Westwood

Erie, PA

#7 Feb 24, 2013
Obamanomics.......
Tax & Spend....Obama has created more debt then any other President in History ....Some claim he has created more debt then all previous Presidents combined. For sure when he is finally out of office, the latter statement will be true.
This is the Traitorous Liberal Marxist the Democratic Welfare base voted for along with the wackoloons who have no clue the agenda for the destruction of America & installation of a Socialist regime is his real intent.
Jimmy Carter sure must be happy ...he is no longer the worst President of all time.
Irving is such a gay name

Waterford, PA

#8 Feb 24, 2013
Irving Taylor wrote:
<quoted text>
Seems to me those that work hard are the enemy of the Obama regime. It would be nice to see Obama forgo a few vacations and work on trimming the obvious deadwood such as yourself.
How can those that work hard be an enemy of the "Obama regime"? If you worked hard enough in your life he should be as important as a zit on your kid's face. IOW lot's of attention but in the grand scheme of things a nothingburger. What's your excuse for failure to reach your goals or plan properly for the future? You thought all elections would be the way you wished on pixiedust? Gay.
I excuse your pms

Waterford, PA

#9 Feb 24, 2013
Flint Westwood wrote:
Obamanomics.......
Tax & Spend....Obama has created more debt then any other President in History ....Some claim he has created more debt then all previous Presidents combined. For sure when he is finally out of office, the latter statement will be true.
This is the Traitorous Liberal Marxist the Democratic Welfare base voted for along with the wackoloons who have no clue the agenda for the destruction of America & installation of a Socialist regime is his real intent.
Jimmy Carter sure must be happy ...he is no longer the worst President of all time.
Sorry to hear about your period. Hopefully you'll man up afterward and take personal responsibility despite circumstances. BTW Atlas Shrugged II came out the 19th. Repubes would do to watch it and see how inferior they are to a real heroic type. Either that or admit your complaints are the stuff of grade school intelligence and perspective.
Curious Observer

Erie, PA

#10 Feb 24, 2013
I excuse your pms wrote:
<quoted text>
Sorry to hear about your period. Hopefully you'll man up afterward and take personal responsibility despite circumstances. BTW Atlas Shrugged II came out the 19th. Repubes would do to watch it and see how inferior they are to a real heroic type. Either that or admit your complaints are the stuff of grade school intelligence and perspective.
I notice you did not challenge the truth of what I posted ,after all how could you? Obama is your hero & I am sure it distresses you to no end the failure he is. That however does not excuse your ignorance or stupidity to not accept the reality of what he is really all about.
I excuse your PMS

Waterford, PA

#11 Feb 24, 2013
Curious Observer wrote:
<quoted text>
I notice you did not challenge the truth of what I posted ,after all how could you? Obama is your hero & I am sure it distresses you to no end the failure he is. That however does not excuse your ignorance or stupidity to not accept the reality of what he is really all about.
Why would I care what he does or doesn't do? Think globally, act locally.

If you're a loser it isn't because of Obama, whether Indonesia has favorable trade laws with the US or the price of tea in China. If you can't favorably position yourself in the sphere of influence that affects your life, it's on you homes.

Don't fire your secretary for typing up your stupid ass ideas. Man up boy. It's the republican way. Nothing excuses the endgame. Let your parents bury themselves if you have an important meeting. They'll bring nothing to the table. Right?
Stu Pedaso

Erie, PA

#12 Feb 24, 2013
I excuse your PMS wrote:
<quoted text>
Why would I care what he does or doesn't do? Think globally, act locally.
If you're a loser it isn't because of Obama, whether Indonesia has favorable trade laws with the US or the price of tea in China. If you can't favorably position yourself in the sphere of influence that affects your life, it's on you homes.
Don't fire your secretary for typing up your stupid ass ideas. Man up boy. It's the republican way. Nothing excuses the endgame. Let your parents bury themselves if you have an important meeting. They'll bring nothing to the table. Right?
Think Globally?? Try just thinking, moron. I realize by your stupid posts that is a hard concept.
Think Atlas Shrugged

Waterford, PA

#13 Feb 24, 2013
Stu Pedaso wrote:
<quoted text>
Think Globally?? Try just thinking, moron. I realize by your stupid posts that is a hard concept.
Think Atlas Shrugged. I can get by, why can't you lame-brained lazy loser?
Stu Pedaso

Erie, PA

#14 Feb 24, 2013
Think Atlas Shrugged wrote:
<quoted text>
Think Atlas Shrugged. I can get by, why can't you lame-brained lazy loser?
The only way a deadbeat like you gets by is with my tax money filling your Access card. You are a slave to your own worthlessness.
Think Ass and Tug

Waterford, PA

#16 Feb 25, 2013
Stu Pedaso wrote:
<quoted text>
The only way a deadbeat like you gets by is with my tax money filling your Access card. You are a slave to your own worthlessness.
Hey queerbait. If it's available why not take it, corporations do.
TALLY

Erie, PA

#17 Feb 25, 2013
Think Ass and Tug wrote:
<quoted text>
Hey queerbait. If it's available why not take it, corporations do.
Of course you take it loser. You are a slave to the corporate government fascists.

You are just too damn stupid to realize it yet.
T and A

Waterford, PA

#18 Feb 25, 2013
TALLY wrote:
<quoted text>
Of course you take it loser.
So does Ron Paul, Rand Paul and Sarah Palin. Aw, how touching. You were duped once again weren't you Tea-sword swallowing dumbass?
TALLY

Erie, PA

#19 Feb 25, 2013
T and A wrote:
<quoted text>
So does Ron Paul, Rand Paul and Sarah Palin. Aw, how touching. You were duped once again weren't you Tea-sword swallowing dumbass?
Once again idiot, those people work for a living. You never have. Sucks to be you. Slit those puny wrists of yours little guy.
skip the pee pee

Waterford, PA

#20 Feb 25, 2013
TALLY wrote:
<quoted text>
Once again idiot, those people work for a living. You never have. Sucks to be you. Slit those puny wrists of yours little guy.
http://i.imgur.com/2ktu95i.gif
skip the pee pee

Waterford, PA

#21 Feb 25, 2013
For those who think Obamanomics is bad:

http://www.dailykos.com/story/2013/02/25/1189... #

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