Monday, July 04, 2011

Lose 300,000 Jobs? That's "Success!!" in ObozoLand


.... The [White House] AgitProp desk council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs...

Uh-huh. Even if you buy that (along with the Golden Gate Bridge for only $2.95 plus tax and shipping) there's this curious factoid:

...the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs

So we're officially going backwards in ObozoLand at the rate of 150,000 jobs per month!

Is it 2012 yet?


J. Strupp said...

ARRA is winding down. Since GDP is a rate-of change, ARRA is now subtracting from growth which is directly related to unemployment. Since the private sector hasn't been able to pick up the slack to offset the drop in government spending, this is what you're left with.

This shouldn't be surprising.

Dad29 said...

The only "winding down" of ARRA is in the public sector.

Contracting--highway building, specifically, but also public-works projects in general, is NOT 'winding down;' it's barely started.

Remember that the "shovel-ready" projects also had to go through regulatory/permitting roadblocks.

Yup. Regs cost money.