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May 19, 2013
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Stimulus: One Year LaterPosted on Feb 17, 2010
Some say it was too modest, others feel it was about $800 billion overboard. In any event, the American Recovery and Reinvestment Act is a year old, and, according to ProPublica, still has a few hundred billion dollars’ worth of stimulation left in the tank. Check out ProPublica’s mega-stimulus coverage page, which has handy tools for monitoring stimulus spending.
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By stonewall2wall, February 18, 2010 at 2:42 am Link to this comment
(Unregistered commenter)
The origins of our lousy economy are well known. The banks proved weak and “too big to fail.” They got into this state through a combination of risky
instruments like swaps and derivatives. Result:
financial meltdown that sucked liquidity out of the economy while the banks shut down their lending. The controversial TARP seemed to boost the financial institutions and enable GDP growth.
The good news is that the number of jobs lost per month was significantly retarded.
Most people believe the stimulus is working and has saved or created 1.5 to 2.0 million jobs. I would suggest most of these jobs were created in the government sector preserving teaching positions,firefighters and police.
As I mentioned, it was the president and US government that was extending credit, reducing
risk and creating the liquidity needed to sustain and grow GDP? It was neither the banks nor insurance companies (they are raising premiums and denying coverage), other industries? No, they were laying off workers and attempted to keep productivity by making remaining workers work more.
The responsibility fell to the stimulus. As most
leading economists would agree, now is the time for deficit spend but many felt the stimulus was two small.
Obama is going to pass health care this year with a public option. This will help throttle back some of those out of control premium hikes and will invite all Americans to participate to get insurance without the fear of coverage denials as with pre-existing conditions.
With the leadership of Elizabeth Warren, the TARP
funds will be more transparent and will allow us to see how these funds will be allocated.
Overall, this is the time for leftist/liberal to
Report thiscontinue with these progressive programs providing an increasingly healthy economy with real GDP growth that will serve as the foundation for job creation.
By rollzone, February 17, 2010 at 8:09 pm Link to this comment
hello. i admit i got stimulated to voice opposition to
Report thisthis turkey. how many jobs were lost by spending this
much tax money? how many small businesses had to go
under, because of the cost of doing business to the
tune of 40% for the government? how many fatcats got
fatter with this money? why is he not paying down debt?
what are all the workers that were hired on cosmetic
repair jobs doing, when the jobs end? this was not
premature stimulation, it was pure tease.