Obama: Stimulus law worked; selling job didn't

Full story: TwinCities.com 6
President Barack Obama says his economic stimulus law did its job by staving off another Great Depression. Full Story
Porkulus

Minneapolis, MN

#1 Jun 30, 2010
Stimulus Surprise: Companies Retrench When Government Spends

New research from Harvard Business School suggests that federal spending in states appears to cause local businesses to cut back rather than grow. A conversation with Joshua Coval. Key concepts include:

* The average state experiences a 40 to 50 percent increase in earmark spending if its senator becomes chair of one of the top-three congressional committees. In the House, the average is around 20 percent.

* For broader measures of spending, such as discretionary state-level federal transfers, the increase from being represented by a powerful senator is around 10 percent.

* In the year that follows a congressman's ascendancy, the average firm in his state cuts back capital expenditures by roughly 15 percent.

* There is some evidence that firms scale back their employment and experience a decline in sales growth.

(Excerpt)

http://hbswk.hbs.edu/item/6420.html

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How DARE these stupid companies act intuitively to artificially-imposed external pressures!(sarcasm)

They forgot to describe the results as “surprising” and “unexpected”.

...still not buying it , Barry.
kleeys

Parkton, NC

#2 Jun 30, 2010
what would happen if the federal govt revenue was taxed 40% by the chinese. I think thata the only thing that woud knock any sense into a liberal to see the light.
Robbie

Jefferson City, MO

#3 Jul 1, 2010
kleeys wrote:
what would happen if the federal govt revenue was taxed 40% by the chinese. I think thata the only thing that woud knock any sense into a liberal to see the light.
You're not getting taxed 40% and if you are then you have enough $$$ not to worry about it..........
kleeys

United States

#4 Jul 1, 2010
im not sure, you add up social security , payroll, self employment , property, telephone, gasoline, food , oil, etc etc all . it all adds up.

the govt doesnt pay any tax so why not let the chinese tax them say 35% so they can make some momney on our debt service. or are you admitting the govt cant afford a 35% tax on its reveues but they think the private sector can. cant have it both ways when it others and nit yoursleves.
Insert Name Here

Avon, MN

#5 Jul 1, 2010
Yes the "stimulie" has been such a success. He truly lives in an alternate universe.
You Lie

Minneapolis, MN

#6 Jul 3, 2010
** Economists: The stimulus didn't help **

In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years -- but a majority of respondents felt the fiscal stimulus had no impact.

http://money.cnn.com/2010/04/26/news/economy/...







Yeah, but, the "wealth" was re-distributed.

Which of course, yet again, illustrates the fact that wealth redistribution does not stimulate or grow an economy.

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