When even the AP suggests the stimulus isn't working...

By Rossputin on Oct 29, 2009

When even the liberal Associated Press suggests the stimulus isn't working as we're told, you know the bloom is coming off the Obama rose, and Americans are slowly but surely learning the destructive fiscal folly of his economic policies.

In an article reprinted in the Denver Post yesterday entitled "Stimulus jobs overcounted nationwide", two AP reporters lay out details of companies that substantially overstated the number of jobs they claimed to have "saved or created" with stimulus money.

The AP's early conclusion is that at least 1 out of 6 of the so-called 30,000 jobs "saved or created" so far is a fiction.

Let me put my big surprise face on.

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Realcuf
November 4, 2009 - 11:31pm

http://www.youtube.com/watch?v=Rsf8VBo0u3I
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CarsonU
November 3, 2009 - 1:47am

Stimulus are being provided in order to stabilize the financial system and to create job creation to those who had been affected by the global economic crisis. But it seems that there are still gap on some employment opportunity, does it mean the stimulus was not enough to sustain the need of the country?Investors suffered much from recession, I think it's about time for them to hire investment analyst for them to take care their investment concerns. If these suits actually were worth what we pay them, they would have seen the current economic crisis coming, and even Econ 101 covers bubble and bust – they must be incompetent as an industry. (No wonder so many people have business degree - know what I mean?) Well, perhaps that goes a bit too far – investment analysts and financial consultants are usually experts in their field and can tell you whether purchasing shares in Underwater Basket Weavers Ltd. Is a good idea, and just how long you should hold onto it, or what are the best investment strategies for retirement, or if you need some debt relief right away.

weberracing
November 2, 2009 - 12:18pm

Of course this stimulus is not working. The key to an economic recovery is putting people back to work so they can take care of themselves and generate tax revenue. Until the trade agreements that cost this country millions of jobs are changed, the exodus of jobs will continue.

And by the way, Bush's two stimulus checks were miserable flops as well. All people did with that money is run to the store and buy Chinese made products! OMG these politicians are complete morons!

natemender
October 31, 2009 - 1:20pm

Unemployment is a lagging economic indicator and is only ONE of several metrics. Only 20% of the funds have been disbursed. $288 billion dollars of the stimulus are tax cuts.

Ross, Do you remember how we got into this situation? I'm no economist, and sometimes things go over my head ,but his seems like a long term systemic problem (compounded by 8 years of incompetence) that would be hard to fix in 8 months. We need to restore the middle class thereby strengthening the foundation of the US economy and creating real, sustainable wealth.

What do you think about spending $800 billion dollars and counting on an illegitimate war? With the actual impact to our economy being $3 trillion (see vanity fair article), Killing hundreds of thousands of innocent civilians, billions to Haliburton and it's subcontractors in no bid contracts, destabilizing the middle east, not finding Bin Laden, and so on

Remember our surplus under our last Democratic President?

http://www.nytimes.com/interactive/2009/06/09/business/economy/20090610-...

http://www.vanityfair.com/politics/features/2008/04/stiglitz200804

TheMan
October 30, 2009 - 12:29pm

Nowhere in this article does the AP suggest that the stimulus in not working. You are adding your own biased commentary to this article. What they do say is that based on their "limited review of some of the contracts", 1 in 6 jobs may overstated. But when you consider that the 30,000 jobs already exceeded the white house's expectations, basically the actual numbers probably fall in line with their original estimates.

So, basically the revised number should be around 25,000 jobs. That is 25,000 more jobs than without the stimulus.

And keep in mind that this is only a small subsections of all the jobs created. In fact the newest reports show 650,000 jobs total created by the stimulus:

http://money.cnn.com/2009/10/30/news/economy/Stimulus_jobs_created/index...

And of course you don't mention the fact that:

Ed DeSeve, an Obama adviser helping to oversee the stimulus program, said agencies have been working with businesses that received the money to correct the mistakes.

Let me put my big surprise face on.

jimclary
October 30, 2009 - 12:11am

I looks to me the public option could end up killing the whole plan