Mytzlplk
Governor
after spending the better part of eight years prior to BHO not caring too much about it.
You'd think all this "debt" BHO has seen grow on his watch is due to new socialistic programs or something he has full responsibility for the implementation of, like the way Bush has for his due to those tax cuts and wars that failed to pay for themselves, but is that really the case?
Of course not, it's just one of their many frequently repeated lies/distortions designed to share their shame, much like misery with does with the company it seeks and finds. As noted again recently and long argued, they have memories not much longer than their noses that don't work -- either that or they love the smell of these kinda turds. http://www.washingtonmonthly.com/political-animal/2011_11/crossing_the_15_trillion_debt033550.php
There's actually a longer list of frequently repeated lies over this and that than a person could possibly squeeze into one PJ posting, but here's a few on the econ front
But Economists Agree That The Stimulus Raised Employment, Had "Very Substantial" Effects
Independent And Private Analysts: Stimulus Significantly Raised Employment. As Media Matters has previously documented, many analysts confirmed that the stimulus significantly raised employment. The nonpartisan Congressional Budget Office (CBO) estimated that the stimulus increased the number of people employed, as of the second quarter of FY2010, by "between 1.4 million and 3.3 million." Moody's Economy.com estimated it would have created 1.9 million jobs by 2010. [Media Matters, 9/26/10]
Economists: "The Effects Of The Fiscal Stimulus" On Economy "Appear Very Substantial." Economists also agreed that the stimulus was effective. A March 2010 study in The Wall Street Journal found that 70 percent of economists surveyed said the stimulus "boosted growth and mitigated job losses." ABC News reported on February 18, 2010, that most of the economists on its panel thought the economy "would be worse today without the big aid package." And a February 2010 survey of 203 members of the National Association for Business Economics (NABE) found that "[e]ighty-three percent believe that GDP is currently higher than it would have been without the 2009 stimulus package (ARRA)." [Media Matters, 9/26/10]
Eight Percent Unemployment Projection Made Before Data Was Released Showing "Far Worse" Economic Conditions
Initial Eight Percent Unemployment Projection Made Before Fourth-Quarter FY2008 Results. As Media Matters has previously noted, while Obama advisers initially predicted that after stimulus spending the unemployment rate would not exceed 8 percent -- a prediction made "10 days before Mr. Obama was inaugurated," according to The New York Times -- advisers later explained that this estimate was made before fourth-quarter results for the GDP were available. Jared Bernstein, then-economic advisor to the vice president, explained, "[W]hen we made our initial estimates, that was before we had fourth-quarter results on GDP, which we later found out was contracting on an annual rate of 6 percent, far worse than we expected at that time." [Media Matters, 6/9/09; The New York Times, 6/8/09]
Analyses Show Most U.S. Debt Can Be Attributed To Bush-Era Policies, Economic Downturn http://mediamatters.org/research/201106060016
You'd think all this "debt" BHO has seen grow on his watch is due to new socialistic programs or something he has full responsibility for the implementation of, like the way Bush has for his due to those tax cuts and wars that failed to pay for themselves, but is that really the case?
Of course not, it's just one of their many frequently repeated lies/distortions designed to share their shame, much like misery with does with the company it seeks and finds. As noted again recently and long argued, they have memories not much longer than their noses that don't work -- either that or they love the smell of these kinda turds. http://www.washingtonmonthly.com/political-animal/2011_11/crossing_the_15_trillion_debt033550.php
There's actually a longer list of frequently repeated lies over this and that than a person could possibly squeeze into one PJ posting, but here's a few on the econ front
But Economists Agree That The Stimulus Raised Employment, Had "Very Substantial" Effects
Independent And Private Analysts: Stimulus Significantly Raised Employment. As Media Matters has previously documented, many analysts confirmed that the stimulus significantly raised employment. The nonpartisan Congressional Budget Office (CBO) estimated that the stimulus increased the number of people employed, as of the second quarter of FY2010, by "between 1.4 million and 3.3 million." Moody's Economy.com estimated it would have created 1.9 million jobs by 2010. [Media Matters, 9/26/10]
Economists: "The Effects Of The Fiscal Stimulus" On Economy "Appear Very Substantial." Economists also agreed that the stimulus was effective. A March 2010 study in The Wall Street Journal found that 70 percent of economists surveyed said the stimulus "boosted growth and mitigated job losses." ABC News reported on February 18, 2010, that most of the economists on its panel thought the economy "would be worse today without the big aid package." And a February 2010 survey of 203 members of the National Association for Business Economics (NABE) found that "[e]ighty-three percent believe that GDP is currently higher than it would have been without the 2009 stimulus package (ARRA)." [Media Matters, 9/26/10]
Eight Percent Unemployment Projection Made Before Data Was Released Showing "Far Worse" Economic Conditions
Initial Eight Percent Unemployment Projection Made Before Fourth-Quarter FY2008 Results. As Media Matters has previously noted, while Obama advisers initially predicted that after stimulus spending the unemployment rate would not exceed 8 percent -- a prediction made "10 days before Mr. Obama was inaugurated," according to The New York Times -- advisers later explained that this estimate was made before fourth-quarter results for the GDP were available. Jared Bernstein, then-economic advisor to the vice president, explained, "[W]hen we made our initial estimates, that was before we had fourth-quarter results on GDP, which we later found out was contracting on an annual rate of 6 percent, far worse than we expected at that time." [Media Matters, 6/9/09; The New York Times, 6/8/09]
Analyses Show Most U.S. Debt Can Be Attributed To Bush-Era Policies, Economic Downturn http://mediamatters.org/research/201106060016
