Socialism Is Bad for the Environment

No, he simply made the recession last longer. His numbers never got above water. He kept us with high unemployment and high taxes. He kept people on government assistance and increased the number of people on gov't assistance. He didn't prevent a depression. He just made the recession last longer.

 

Translation: "If Obama wouldn't have spent $830 billion on the American Recovery and Reinvestment Act and spent money on other projects, in the process doubling our national debt, we would have gone into depression."

This is an unknowable assertion.

 

You have to enlist experts in economics to make that assessment. I don't think the answer is unknowable. There might be countervailing opinions.

Did dropping two atomic bombs on Japan reduce the number of causalities? Is that unknowable also because we can't prove it?

 

The experts said over and over and over that it is impossible to know how many jobs were saved. The fact is that Obama's stimulus didn't deliver what it was promised to deliver. It was a failure.

 

Let's see the evidence. No they didn't say that.
American Recovery and Reinvestment Act of 2009 - Wikipedia

Surveys of economists show overwhelming agreement that the stimulus reduced unemployment.[2][3] In a 2014 IGM Forum survey, only one economist disagreed that the stimulus had lowered unemployment.[3] The survey also showed majority support for the notion that the benefits of the stimulus outweighed the costs, with only two economists disagreeing.[3]

 

That's not what I said. The Obama administration was touting a certain number of jobs saved, in fact it was Biden who made the claim. Something in the hundreds of thousands of jobs.

But experts claimed that it was impossible to quantify jobs saved.

The difference is that we can actually quantify the number of REAL jobs created in the current administration. Besides, in socialism, the last thing you want is more jobs. Socialism thrives on poverty and lack of jobs. That's why wealth redistribution looks so good to socialists.

Job creation is very capitalist. What the Dems want is more people on welfare, more people on food stamps and more people living in poverty. They want rampant sickness and disease, no freedom, and certainly no Jesus. That's the Democrat party.

 

Here is a chart of what the Obama administration claimed would happen:

With the stimulus package
Without the stimulus package
and...
What really happened

 

Hearsay.

 

Obama's Stimulus Package and How Well It Worked

Did Obama's Stimulus Plan Work?

President Barack Obama outlined the economic stimulus package during his 2008 campaign. Congress approved the American Recovery and Reinvestment Act (ARRA) in February 2009. The Congressional Budget Office estimated it would add $787 billion in budget deficits by 2019.

The economic stimulus package ended the Great Recession by spurring consumer spending. Most importantly, it instilled the confidence needed to boost economic growth. It also aimed to restore trust in the financial services industry. It limited bonuses for senior executives in companies that received the Troubled Asset Relief Program (TARP) funds.

How Well It Succeeded
In a 2009 report, the CBO projected ARRA would stimulate gross domestic product by 1.4 percent to 3.8 percent for the fourth quarter in 2009. The stimulus was successful in 2009 GDP. The economy grew 1.5 percent in the third quarter and 4.5 percent in the fourth quarter. That's a big improvement over the first quarter's 4.4 percent drop and the second quarter's 0.6 percent decline.

In 2009, the CBO predicted that ARRA would increase employment by 7 million full-time jobs by the end of 2012. In 2015, it estimated the stimulus created between 2 million and 10.9 million jobs. Most of the increase occurred by 2011.

Most of the success was due to the Stimulus Package. By March 2009, expansive monetary policy had done all it could. It was evident more fiscal policy was needed. No doubt, the economic stimulus package inspired the confidence needed to turn the economy around.

Once in office, Obama realized he needed to increase the fiscal stimulus from the $190 billion plan he proposed in his campaign. Some components of his campaign plan, such as enacting a foreclosure moratorium, had already been implemented by Fannie Mae. Others, such as eliminating taxes on seniors making up to $50,000, were still part of Obama's economic agenda elsewhere.

Success of Each of the Three Components
Obama's tax rebates were supposed to encourage consumer spending, but many experts doubted it. Why? The rebates showed up as less tax withholding. Unlike the Bush tax cuts, workers did not receive checks. As a result, most people weren't aware they got a tax rebate.

The Stimulus for Small Business helped create jobs, increased lending from the Small Business Administration and community banks, and reduced capital gains taxes for small business investors. The aid helped, but many states were so underwater that their losses outweighed the federal assistance.

The public works construction was probably the most well-publicized. Signs were posted wherever stimulus money was used to construct roads or public buildings. It was estimated to retain or add 3 million jobs, many of which were sorely needed in the construction industry.

Economic Stimulus for Small Businesses
Although most of the media attention was on the $105 billion invested in large banks. But the Treasury's TARP program also invested $92 billion to strengthen community banks across the country. These banks were directed to use the funds to help small businesses in their local area.

Second, the Economic Stimulus Package included $54 billion in tax write-offs for small businesses.

 

.......The failure of the stimulus was a failure of the neo-Keynesian belief that economies can be jolted into action by a wave of government spending. In fact, people are smart enough to realize that every dollar poured into the economy via government spending must eventually be taken out of the productive economy in the form of taxes. The way to jolt an economy to life and to sustain long-term growth is to create more incentives for people to work, save and invest. Let's hope Washington's next stimulus plan is aimed at reducing the tax and regulatory burden on American job creators.

Obama's Stimulus, Five Years Later

 

.......That was the alluring theory, which vaporized on contact with reality. The evidence amassed so far by economists indicates that the stimulus has come up empty in every possible way......

How Obama's stimulus failed

 

........But despite these achievements, the stimulus ultimately failed to do what America expected it to do — bring about a strong, sustainable recovery. The drop kick was shanked.........

https://nypost.com/2012/01/29/how-the-800b-stimulus-failed/

 

No, not hearsay:

Obama: Stimulus saved 1 million jobs
VP Biden on Stimulus: 325,000 Educator Jobs Created or Saved

 

Surveys of economists are hearsay. The only thing that matters is the actual data. This business of "scientists" and "experts" with their schemes of "I'll vote for yours, if you'll vote for mine" is neither science nor expertise, but rather a major problem in the professional world. So, too, the sensationalist re-interpretation of scientific reports by the MSM.

 

Hmmm...The stimulus package either produced 2 million jobs or else 10.9 miilion jobs, or FIVE TIMES AS MANY AS 2 MILLION JOBS.

In other words, they don't know.

 

Those were not surveys. Both Obama and Biden tried to claim "jobs saved" which is something that cannot be quantified.