Skip to comments.Recovery Act is working, by Joe Biden
Posted on 02/16/2012 11:15:11 AM PST by Oldeconomybuyer
Three years ago today, in his first major act in office, President Barack Obama signed into law the American Recovery and Reinvestment Act. It stirred a great debate. Some called it too big; others warned it was too meager. With just a handful of exceptions, Republicans maligned it as the absolute wrong approach to creating jobs. Today, that argument is settled. The Recovery Act did what we asked of it. Three million jobs were created or saved. Essential investments in keeping teachers on the job, building a domestic clean energy industry, and repairing our roads and bridges have helped to foster the economic growth that we are now starting to see. The president is building an economy meant to last, and the Recovery Act is part of the foundation.
... The Recovery Act was meant to give the economy the jolt it desperately needed. Three years later, it is clear that jolt got us pretty far down the road. We have a long way to go as we work to reinvigorate manufacturing and ultimately rebuild the middle class. The president and I will not stop will not rest until the millions of Americans who have struggled in recent years can look their children in the eye and say, "Honey, it's gonna be okay."
(Excerpt) Read more at news.google.com ...
Hey joe.. it’s best to keep your mouth shut and be thought a fool.. Than to open it and remove all doubt!
Tell me about it.......
It must be nice to live in his head with Peter Pan and the Easter Bunny!
During a 2009 re-election campaign appearance for then-New Jersey Gov. Jon Corzine, Vice President Joe Biden told a crowd how Team Obama repeatedly asked Corzine for advice and trusted him implicitly.
Complete transcript of the video clip (self-transcribed):
One of the early discussions we had, in Chicago, in preparation for the administration, our transition team out there, we got together---I think it was 30, 35 economists, all left, right, center---and what did we talk about? The first question they wanted to raise with us is whether we might need to call a bank holiday, a bank holiday, on the day after we were sworn in.
Ladies and gentlemen, the president and I werent back there blaming Jon Corzine then. You know what we were doing? We were on the phone calling Jon Corzine literally. I literally picked up the phone and called Jon Corzine, and said, Jon, what do you think we should do?
The reason why we called Jon is because we knew he knew about the economy, about world markets, about how we had to respond, unlike almost anyone we knew. And because he had been in the pit, he had been in the furnace. And we trusted his judgment.
And everybody kind of forgets this, but what we heard from Jon is what we needed to do. What we needed to do, we needed a serious economic recovery plan. Im not doing this for applause, as they used to say Aint brag man, just fact, just the facts.' The facts were, Jon, leading your legislature, was already moving in New Jersey on an economic stimulus package---before anybody else was.
But Jon knew--- Jon knew what other governors know but many didnt acknowledge, that it wasnt sufficient. No state was big enough. As strong and as wealthy and as powerful as your state, no state was big enough to be the economic engine for national growth.
So Jon suggested, and laid out, and we talked a long time about what the elements of the recovery package, nationally, should be. We knew that without a national package it wouldnt work, and Jon was right.
You talk about Christie being wrong, I could start a mantra where John was right. Jon was right about this.
"As the video closes, the Democratic partisans in the audience are heard chanting, Jon was right! Jon was right!"
But, here is Christie, recounting his first year after beating Corzine...
My chief of staff, in my first week as governor, brought me a sheet of paper that showed me that if I did not act immediately to stop the planned spending, that New Jersey would not meet its payroll for the second pay period in March. Imagine that. The state that has the second highest per capita income in America had so over-spent, over-borrowed, and over-taxed that it would not meet payroll in March of 2010.
So we acted immediately to use the executive authority of the governorship to impound $2.2 billion in projected spending. Without the permission of the legislature. Without compromise because it was not the time for compromise. And without raising taxes on the people of the state who had had their taxes raised and fees 115 times in the eight years preceding my governorship. 115 tax and fee increases in eight years.
So we impounded spending and we balanced the budget. And we turned immediately towards this fiscal year that were in now. And were confronted with an $11 billion budget deficit on a $29 billion budget. The highest budget deficit by percentage of any state in America.
And believe me: the partisan Democrats in my state believed they had me right where they wanted me - he would have to raise taxes. And they put it right down on the table and said they wanted to increase the tax that they love the most the income tax and specifically they called it the millionaires tax.
The president and I will not stop will not rest until the millions of Americans who have struggled in recent years can look their children in the eye and say, “Honey, it’s gonna be okay.”/
The above quote should really be:
The president and I will not stop lying will not rest until the millions of Americans who have become unemployed due to our socialist policies in recent years can look their children in the eye and say, “Honey, the socialists in the WH stole all your money and used it to buy votes and destroy the economy.”
Not to mention his pet Unicorn!
Do the math, Joe Biden:
$743.8 billion spent since 2009. (www.recovery.gov)
3 million jobs created or saved. (says Joe Biden)
That’s $247,933 per job!
Note: The per capita personal income in 2009 was $38,846. Sending checks directly to 3 million workers for that amount would have cost only $116.5 billion.
I keep hearing Obama's people touting this figure. Has anyone seen any numbers or methodology to support this assertion, or any precise explanation of how it was arrived at?
I sure haven't.
You can’t read Joe without some rimshots!
Joe Biteme pulls numbers out of his gaping A-hole.
No matter what Obama did, the economy was EVENTUALLY going to start growing again.
A recovery which should have started in 2009 may finally be taking hold in 2012. That’s the result of the recovery act. So if the job of the recovery act was to delay the recovery by 2 years, it’s working.
Note that under the original recovery act, all the recovery act items are done. So, assuming the recovery act was dampening the recovery, it seems rational that things would pick up when that act ran down.
Republicans have to keep showing the charts that indicate this recovery has been delayed for 2 years by the Obama administration.
(CNSNews.com) - The jobs created and saved by the economic stimulus law that President Barack Obama signed on Feb. 17, 2009 cost at a minimum an average of $228,055 each, according to data released yesterday by the Congressional Budget Office (CBO).
The system works. The border is secure. Remain clam. The important thing to remember is that we must all remain clams. Where am I again? What?
Joltin’ Joe Biden
I commonly see it quoted that we would have to create somewhere between 150,000 to 250,000 jobs a month just to keep up with the population growth. Assuming that number, even at the low end, we would need 5.4 million just to keep pace. With their claim of 3 million jobs created, we are well shy of just staying afloat.
Propaganda spew to add credence to propaganda spew. The level of corruptions in the US government is numbing.
That horse escaped the barn plenty many moons ago.
“Stand up Chuck!”
“Act” in this context doesn’t mean a piece of legislation, it means an orchestrated lie through government mouthpieces and a complicit media to give the impression of what is exactly opposite of the truth.
Sign Up Now For Recovery Summer IV
Shouldn’t this be posted under “Humor”?