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Keyword: stimulus

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  • Presented With Letters, Ryan Admits Requesting Stimulus Cash

    08/17/2012 4:06:54 PM PDT · by Mozilla · 26 replies
    Yahoo ^ | 8/18/12 | Gregory J. Krieg
    After repeated denials, Paul Ryan has admitted he requested stimulus cash even after sharply criticizing the program. As recently as Wednesday in Ohio, Mitt Romney's running mate told ABC's Cincinnati affiliate, WCPO, he did not. "I never asked for stimulus," Ryan said. "I don't recall… so I really can't comment on it. I opposed the stimulus because it doesn't work, it didn't work." Two years ago, during an interview on WBZ's NewsRadio he was asked by a caller if he "accepted any money" into his district. Ryan said he did not. "I'm not one [of those] people who votes for...
  • Biden’s ‘good friend,’ donor receives $20M federal loan...

    08/17/2012 6:02:29 AM PDT · by SumProVita · 13 replies
    Daily Caller ^ | August 17, 2012 | Christopher Bedford
    ...to open foreign luxury car dealership in Ukraine (Title) According to a public summary document, the loan, from the federal government’s Overseas Private Investment Corporation, is for “[u]p to $20.0 million,” and is designed to “expand Winner Import Ukraine’s automobile business, [and] construct and operate ‘Winner Autocity,’ which will have two new, state-of-the-art dealership facilities for Porsche and Land Rover/Jaguar automobiles.” ...snip... Under “U.S. Economic Impact,” the summary document says, “This project will have a positive developmental impact on the host country, Ukraine. The project will generate a significant number of new local jobs. Running a dealership for premium automobile...
  • More ‘stimulus’?: Facts of failure

    08/09/2012 10:42:36 AM PDT · by neverdem · 2 replies
    Pittsburgh Tribune-Review ^ | August 7, 2012 | Masthead Editorial
    With data showing slower economic growth has followed increased government spending, the Obama administration and others advocating more “stimulus” couldn’t be more wrong. Renowned supply-side economist Arthur B. Laffer, writing in The Wall Street Journal, notes that among the 34 nations of the Organization for Economic Cooperation and Development, “those with the largest spending spurts from 2007 to 2009 saw the least growth in GDP rates before and after the stimulus.” An 8.4 percent decline in GDP growth followed the U.S. government’s 7.3 percent spending surge. Further confirming the correlation between “stimulus” and slowdown is the fact that the steepest...
  • Federal Spending: Killing the Economy With Government Stimulus

    08/07/2012 8:52:18 PM PDT · by Innovative · 6 replies
    Forbes ^ | Aug 6, 2012 | Doug Bandow
    President Barack Obama's presidency hangs in the balance after another disappointing employment report. He continues to advocate new government "stimulus" programs to boost his reelection campaign. However, Washington is awash in government "stimulus," without effect. Only productive private investment will spark economic revival. If government could spend America to prosperity, good times would have arrived long ago. Yet President Obama won't stop. ...In fact, UCLA economists Harold L. Cole and Lee E. Ohanian blamed the New Deal for prolonging the Great Depression by seven years. ...
  • Arthur Laffer: The Real 'Stimulus' Record

    08/06/2012 5:07:30 AM PDT · by bt_dooftlook · 5 replies
    WSJ ^ | 08/06/2012 | Arthur Laffer
    In country after country, increased government spending acted more like a depressant than a stimulant. - Policy makers in Washington and other capitals around the world are debating whether to implement another round of stimulus spending to combat high unemployment and sputtering growth rates. But before they leap, they should take a good hard look at how that worked the first time around. It worked miserably, as indicated by the table nearby, which shows increases in government spending from 2007 to 2009 and subsequent changes in GDP growth rates. Of the 34 Organization for Economic Cooperation and Development nations, those...
  • Arthur Laffer: The Real 'Stimulus' Record

    08/06/2012 4:26:25 AM PDT · by RoosterRedux · 17 replies
    online.wsj.com ^ | 8/5/2012 | Art Laffer
    If you believe, as I do, that the macro economy is the sum total of all of its micro parts, then stimulus spending really doesn't make much sense. In essence, it's when government takes additional resources beyond what it would otherwise take from one group of people (usually the people who produced the resources) and then gives those resources to another group of people (often to non-workers and non-producers). Often as not, the qualification for receiving stimulus funds is the absence of work or income—such as banks and companies that fail, solar energy companies that can't make it on their...
  • GM profits slip 41% as European struggles take their toll

    08/02/2012 9:09:06 AM PDT · by Beave Meister · 4 replies
    The Guardian ^ | 8/2/2012 | Dominic Rushe
    Business General Motors GM profits slip 41% as European struggles take their toll America's largest car firm made $1.5bn in the second quarter of 2012, with European division reporting operating loss of $361m Share 531 Email Dominic Rushe guardian.co.uk, Thursday 2 August 2012 09.25 EDT General Motors GM's CEO Dan Akerson said: 'We have more work to do to offset the headwinds we face.' Photograph: Jeff Kowalsky/EPA General Motors' profits fell 41% in the second quarter as troubles in Europe undercut strong sales in North America. America's largest automaker made $1.5bn in the second quarter of 2012, compared with $2.5bn...
  • NH police departments finding less personnel funding as federal COPS dollars dry up

    08/01/2012 6:33:54 PM PDT · by AlmaKing · 10 replies
    New Hamphire Union Leader ^ | 7-31-12 | Barbara Taromina
    New Hampshire police departments that have tapped into national grant programs to help pay for personnel and equipment that town budgets don’t cover are finding less support as federal agencies rein in spending. Those who’ve opposed the use of these grants would argue that’s for the best. The U.S. Dept. of Justice Community Orientated Policing Services (COPS) grants, which cover most of the cost of hiring new police officers, have been cut by more than 50 percent. And grants from the Dept. of Homeland Security that pay for training and equipment such as armored vehicles, surveillance cameras, radios, protective clothing...
  • Why Government Stimulus Is Not Working...

    07/31/2012 11:42:16 AM PDT · by The Looking Spoon · 18 replies
    The Looking Spoon ^ | 7-31-12 | The Looking Spoon
    A couple of days ago there was a #ConceptsProgressivesCantGrasp hashtag game on Twitter. I tweeted... #ConceptsProgressivesCantGrasp you can't get economic growth by taxing the private sector & then give that $ to the public sector A dumb liberal tweeted back... "uhhh actually...yeah that is exactly how it works ....look at history" To keep this brief. I fired back with a quote from FDR's treasury secretary that the New Deal failed (after she said it didn't). Suddenly, she changed the subject to a different burden of proof (her opinion...that's it), and history didn't matter anymore...RAH KEYNES!The exchange got me wondering how/if I...
  • WH Senior Advisor: Unemployment Stimulates the Economy

    02/22/2012 7:57:35 AM PST · by Lazamataz · 115 replies
    Fox News ^ | Insanity in the form of Valerie Jarrett
    This evening, speaking at North Carolina Central University in Durham, North Carolina, White House senior adviser Valerie Jarrett said that folks getting and spending unemployment checks is a healthy thing . . . because it stimulates the economy: "Even though we had a terrible economic crisis three years ago, throughout our country many people were suffering before the last three years, particularly in the black community," Jarrett said. "And so we need to make sure that we continue to support that important safety net. It not only is good for the family, but it's good for the economy. People who...
  • HHS Sends $5.9 Million to Program Run by Obama Buddy (U of Chicago program tied to MO)

    05/14/2012 11:49:21 AM PDT · by STARWISE · 26 replies
    White House Dossier ^ | 5-14-12 | Keith Koffler
    The Department of Health and Human Services last week announced it had awarded a $5.9 million grant to a University of Chicago Medical Center program tied to Michelle Obama and run by Eric Whitaker, one of President Obama’s closest friends. The Urban Health Initiative, which received the award, was originally based on a smaller program launched during the last decade by Michelle Obama, who was an executive at the University of Chicago Medical Center before she departed to become first lady. The UHI is headed up by Obama basketball and golf buddy Whitaker, who has known the president since Obama’s...
  • GDP: Economy Grew at Sluggish 1.5% Rate in 2Q

    07/27/2012 6:16:55 AM PDT · by kristinn · 47 replies
    AP via The Chicago Tribune ^ | Friday, July 27, 2012
    The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended. The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent. Growth at or below 2 percent isn't enough to lower the unemployment rate, which was 8.2 percent last month. And most economists don't expect growth...
  • Justin Bieber, benefits from Obama Stimulus

    07/25/2012 8:00:39 PM PDT · by coldbluesteel · 13 replies
    Fox News | 7/25/2012 | coldbluesteel
    I personally watched Fox News tonight. Yes I am one of "those people". Shepard Smith had a snippet of Justin Bieber caling 911 to report 5 cars full of paparazzi following him. When the operator asked him what kind of car he was in, he replied a Fisker. The OP had to ask a couple of times to get the name of the automobile correct.
  • Obama, After Three Years of High Unemployment: ‘We Tried Our Plan — and It Worked’

    07/24/2012 2:46:20 PM PDT · by jazusamo · 39 replies
    PJ Tatler ^ | July 24, 2012 | Bryan Preston
    Speaking to supporters in Oakland, CA, President Obama declared that his economic policies are already proven successes. “We tried that and it didn’t work,” Obama said of Mitt Romney’s proposed tax cuts and spending cuts, which he dismissed as a Bush-style “top down” economic policy. “Just like we’ve tried their plan, we tried our plan — and it worked,” he added later in the speech. “That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.” The president mentioned the auto bailouts, and it’s reasonable to conclude that he is also discussing the two...
  • Transportation Dept. Hands Out $500 Million More Stimulus Funds – Including $100 Million...

    07/20/2012 12:23:55 PM PDT · by jazusamo · 8 replies
    CNSNews ^ | July 20, 2012 | Penny Starr
    Full title: Transportation Dept. Hands Out $500 Million More Stimulus Funds – Including $100 Million for Trains in Obama’s Hometown (CNSNews.com) – In a fourth round of funding grants paid for by the $831 billion American Recovery and Reinvestment Act, Chicago is receiving $100 million of $500 million for CREATE, a regional rail task force. The task force web site describes the program as a “partnership” between the Transportation Department, the state of Illinois, city of Chicago and the Metropolitan Rail Corporation (Metra), Amtrak, and freight railroads using the rail lines. The task force goals include improving infrastructure, passenger service,...
  • Energy Dept. 'Unable to Locate' $500,000 in Equipment Bought With Stimulus Money

    07/17/2012 8:10:26 AM PDT · by kevcol · 20 replies
    CNSNews ^ | July 16, 2012 | Penny Starr
    An audit conducted by the Energy Department’s Office of Inspector General was "unable to locate" $500,000 worth of equipment purchased with stimulus money by a recipient of funds distributed through the deparment's “Advanced Batteries and Hybrid Components Program,” according to an audit report published by the OIG. The DOE said it would not be "appropriate" to release the name of stimulus-money recipient where the $500,000 worth of equipment could not be located. . . This is the second audit conducted by OIG on the program. The first was in April 2010. The office said a “follow-up” audit was necessary, in...
  • WH: Stimulus ‘Widely Recognized to Have Broken the Back of Recession’ (Carney)

    07/16/2012 7:58:42 PM PDT · by Nachum · 22 replies
    CNS News ^ | 7/16/12 | Terence P. Jeffrey
    (CNSNews.com) - White House Press Secretary Jay Carney said last week that the $831 billion economic stimulus law that President Barack Obama signed on February 17, 2009 is “widely recognized to have broken the back of the recession.” When President Obama signed the law three and a half years ago, the Congressional Budget Office estimated it would cost $787 billion. Since then, the CBO has revised its estimate, eventually concluding the stimulus cost $831 billion. In January 2009, the month before Obama signed his stimulus, the national unemployment rate was 7.8 percent, according to the Bureau of Labor Statistics. It...
  • Obama Administration Outsourced Jobs with Stimulus Funding

    07/15/2012 7:32:51 AM PDT · by tobyhill · 4 replies
    cns ^ | 7/10/2012 | By Matt Cover
    The Obama administration allowed millions of dollars in federal stimulus funds to go to foreign companies, despite recent statements by President Barack Obama that he opposes “shipping jobs overseas." “I want to stop giving tax breaks to companies that ship jobs and factories overseas,” Obama said in a speech in Cedar Rapids, Iowa on Tuesday. “As long as I’m president, I will keep fighting to make sure jobs are located here in the United States of America,” said Obama. However, Obama’s 2009 economic stimulus spending law--the $787 billion American Recovery and Reivnestment Act--gave millions of federal dollars to foreign companies...
  • White House: Stimulus ‘Widely Recognized To Have Broken The Back Of The Recession’

    07/14/2012 7:14:25 AM PDT · by yoe · 55 replies
    Freedom Outpost ^ | July 2012 | Editor
    White House Press Secretary must be going through a couple of bottle of Scotch a day in order to maintain any demeanor of holding things together because his rhetoric is as reprehensible as Barack Obama’s. “The entire purpose of the Recovery Act was to grow the American economy and grow American jobs here at home, and that’s what it did. It’s widely recognized to have broken the back of the recession,” he said at Thursday’s briefing. explicitly claimed that if he got the stimulus money, which was in excess of $800 billion of tax payer money, that the unemployment rate...
  • (Your Government Dollars At Work) Bureau Of Land Management Gives Advice On Finding Bigfoot

    07/11/2012 7:37:09 PM PDT · by DogByte6RER · 10 replies
    Cadling.com ^ | July 11, 2012 | Sean McLachlan
    Bureau Of Land Management Gives Advice On Finding Bigfoot Last week we reported on how the U.S. National Ocean Service publicly denied the existence of mermaids in response to a joke documentary on Animal Planet. Meanwhile, another federal agency has taken a different course. The Bureau of Land Management in Oregon & Washington has released this video titled "Bigfoot and the BLM." In it, people, who I assume to be BLM staff, are asked about their belief in Bigfoot and the narrator gives handy tips about where to go looking for the mysterious creature. Is this all just a bit...