[SMARTY]

The ‘stimulus’ was nothing but a giant fraud on the public and a swindle.

Throwing good money after bad made everything worse.

[william clark]

“... than believed” by who, exactly?

[william clark]

“... than believed” by who, exactly?

[jessduntno]

Put this together with the revelation that the housing market is MUCH worse than previously reported, now we are rocking!

[djf]

http://www.freerepublic.com/focus/f-news/2819330/posts

[Siena Dreaming]

Weren't the majority of the stimulus funds to be spent in '12?

If so, then Obama may still benefit hugely in an election year from the jobs that are about to be created next year.

[American in Israel]

The “Stimilus” rape of the treasury destroyed Millions of jobs in the private sector and created a massive debt that will destroy Millions of jobs for decades as we struggle to pay this off.

If there was justice in America, half of Congress would be behind bars right now.

[BitWielder1]

It MAY have had a small positive effect somewhere for a little while, but it IS having a huge negative effect now, that will last for decades.

[wbill]

1.3 million per job? I gotta get a new vocation.

[God luvs America]

any link to the new CBO report or stories on it??

[Sicon]

In summing up the state of macroeconomics, they found this to be an "embarrassingly wide range of estimated multipliers."

As an economics major (though I never worked a day in any field even remotely related to economics after graduation), I would say the entire field of economics itself is what is embarrassing. A mostly useless pile of theory that in a few instances can sometimes come close to agreeing with reality, but which for the most part, is little more than an academic exercise with no real practical use or value.

[Sicon]

In summing up the state of macroeconomics, they found this to be an "embarrassingly wide range of estimated multipliers."

As an economics major (though I never worked a day in any field even remotely related to economics after graduation), I would say the entire field of economics itself is what is embarrassing. A mostly useless pile of theory that in a few instances can sometimes come close to agreeing with reality, but which for the most part, is little more than an academic exercise with no real practical use or value.

[junta]

Depression for little people, “liquidity” by the trainload for the money changers.

[sickoflibs]

RE:”You wouldn't know it from the headlines. “Stimulus added up to 3.3M jobs,” reads a representative piece from Politico reporting on the November CBO report. This headline is accurate for the high-end estimate. That estimate, however, is essentially unchanged from previous reports. In the past, the CBO’s low estimate for jobs “created or saved” was 1.2 million which, in this report, has dropped to only 600,000.........
If the debate about the law was shaped by the possibility that a $825 billion spending law would yield only six hundred thousand jobs, the debate may have been a lot different. Over $1.3 million dollars per job “created or saved?” That's not a number that Democrats are eager to be touting on Capitol Hill.”

Key numbers are in the above excerpt, 600K jobs at 1.3M $ per job..

The stimulus/recovery act was never really a jobs bill (some Dems have been forced to admit this since) but Obama and Pelosi sold it as a emergency jobs bill to get it rammed through in a hurry. They cant back off from that now.

A poll question you will never see: “What is a reasonable cost for a government created temporary job funded by taxpayers or deficits?”

Select one :

a) I dont want one penny spent on that
b) 20K $
c) 100K
d) 500K
e) 1M
f) It doesn't matter how much it ‘costs’ because the rich have too much money they don't deserve.

[G Larry]

Key to destroying America is to wreck her economy, industry, and military standing.

This is Obama’s prime objective.

[whitedog57]

From Zero Hedge.

Here is someone’s House Oversight Committee testimony for tomorrow on the futility of trying to bail out the Eurozone Titanic. Look at the chart of Federal debt to GDP growth. Additional debt does NOTHING and actually hurts (of course).

My House Oversight Testimony on The Eurocrisis, The Fed And Implications for Taxpayers

http://confoundedinterest.wordpress.com

[Enchante]

the ‘stimulus’ was very effective!!

... at filling the bank accounts of selected Obama supporters.

[Qbert]

"In the past, the CBO's low estimate for jobs "created or saved" was 1.2 million which, in this report, has dropped to only 600,000."

Meaning that, at best, the failed stimulus "saved or created" 400,000 private sector jobs (which I have serious doubts about). To put this into perspective, IIRC, we need something like 125,000 jobs created per month just to keep up with population growth...

[DustyMoment]

Su-PRISE, su-PRISE, su . . . . . no, it really isn’t. We already knew this!!

[upchuck]

Chart from the article: