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Thread: Did the Stimulus Create Jobs?

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    Did the Stimulus Create Jobs?

    The government's own job creation data reveal the dangers of a second stimulus

    http://reason.com/archives/2009/12/1...us-create-jobs

    Last week the White House held a jobs summit with academics and lawmakers to come up with a strategy for job creation. The plan includes a wide-ranging new jobs program focused on infrastructure investment, small-business initiatives, and aid to state and local governments.

    Sound familiar? It should, because this new plan is nothing more than a repeat of the first job creation program—the so-called stimulus plan—signed into law by the administration back in February.

    Back then, the White House claimed that if we passed the $789 billion American Recovery and Reinvestment Act, unemployment would be contained and jobs would be created immediately.

    The chart below illustrates how well, or not, that job creation program has worked so far. Using the most recent data from the Bureau of Labor Statistics and data from the Administration’s website Recovery.gov, it shows the number of jobs lost and the number of jobs “created or saved” between February and October 2009 by state. This chart also assumes, for the sake of argument, that the concept of a “created or saved” job is not a completely fictitious and unverifiable metric of the effectiveness of the stimulus.

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    Re: Did the Stimulus Create Jobs?

    A deeper look into the job creation data reveals that most of the jobs were “created or saved” in the public sector. Based on data from Stimulus Watch, we find that of the jobs the administration claims to have created with stimulus funds, only some 140,765 of them were private jobs.

    Furthermore, according the Bureau of Labor Statistics, since the passage of the American Recovery and Reinvestment Act private industry has suffered a net loss of 2,610,000 employees (or 2.3 percent of total private employment), while the government has only lost 46,000 employees from its payroll (or 0.2 percent of total government employment). In other words, most of the job losses occurred in the private sector rather than in the public sector. This means that on average, the number of private jobs lost for every private job created is far greater than 6.

    This chart provides some evidence that the first stimulus has failed to deliver on the promises made by the administration—namely, to stop unemployment growth and promote job creation. Finally, consider the Congressional Budget Office’s statement on page 9 of its report, Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output as of September 2009, that “it is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package.” It seems clear that for the sake of taxpayers and for the sake of job creation, a second stimulus is absolutely the wrong idea.
    Originally Posted by champion110
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  3. #3
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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by DogtorEvil View Post
    A deeper look into the job creation data reveals that most of the jobs were “created or saved” in the public sector. Based on data from Stimulus Watch, we find that of the jobs the administration claims to have created with stimulus funds, only some 140,765 of them were private jobs.

    Furthermore, according the Bureau of Labor Statistics, since the passage of the American Recovery and Reinvestment Act private industry has suffered a net loss of 2,610,000 employees (or 2.3 percent of total private employment), while the government has only lost 46,000 employees from its payroll (or 0.2 percent of total government employment). In other words, most of the job losses occurred in the private sector rather than in the public sector. This means that on average, the number of private jobs lost for every private job created is far greater than 6.

    This chart provides some evidence that the first stimulus has failed to deliver on the promises made by the administration—namely, to stop unemployment growth and promote job creation. Finally, consider the Congressional Budget Office’s statement on page 9 of its report, Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output as of September 2009, that “it is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package.” It seems clear that for the sake of taxpayers and for the sake of job creation, a second stimulus is absolutely the wrong idea.

    Truth be known, the recent White House job summit was probably more about trying to keep Democratic jobs in the House and Senate.

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    Re: Did the Stimulus Create Jobs?

    We haven't spent the majority of the 1st stimulus so why do we need a second? To buy demo votes of course!

    A lot of GOVERNMENT jobs have been created.

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by FishingBack View Post
    We haven't spent the majority of the 1st stimulus so why do we need a second? To buy demo votes of course!

    A lot of GOVERNMENT jobs have been created.
    I was about to say NO until I read your post- and you are correct, there are going to be a lot of new government jobs. For the most part those are kind of in process and we haven't really seen that impact yet. Many of those jobs will kind of be moved around- I know they are doing that with state employees - moving them into stimulus jobs, but not adding new, and the agency I am working at is the same- some will just work for a new agency but no real job additions to speak of.

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by Cal&Ken View Post
    Many of those jobs will kind of be moved around- I know they are doing that with state employees - moving them into stimulus jobs, but not adding new, and the agency I am working at is the same- some will just work for a new agency but no real job additions to speak of.
    But that won't stop the Community Organizer in Chief from counting one those jobs in both the jobs saved and jobs created categories.

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by RealityCheck View Post
    But that won't stop the Community Organizer in Chief from counting one those jobs in both the jobs saved and jobs created categories.
    Oh, I do agree. There are tons of people showing their jobs as "saved" or "created" based on the reports they have to fill out if their company got money. The truth is they would have been working on someone else but would still have the job.

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    Re: Did the Stimulus Create Jobs?


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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by JuBru View Post

    Didn't run the tape, but looks like one of 'em just smacked the white guy for buying a Ford.

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    Re: Did the Stimulus Create Jobs?

    GASP!....Could Obama actually have gotten something RIGHT about the porkulus?...that unemployment would get to 8% without it? Looks like it.

    The problem is that the porkulus appears to have helped push unemployment to the 10% level instead of the 7% he was touting. Obama got that part big-time wrong.

    Instead of posting the opinion piece that Investor's Business Daily is pushing today, here is a link to earlier piece by the same author with more factual information.

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by RealityCheck View Post
    GASP!....Could Obama actually have gotten something RIGHT about the porkulus?...that unemployment would get to 8% without it? Looks like it.

    The problem is that the porkulus appears to have helped push unemployment to the 10% level instead of the 7% he was touting. Obama got that part big-time wrong.

    Instead of posting the opinion piece that Investor's Business Daily is pushing today, here is a link to earlier piece by the same author with more factual information.
    I've got a question not to be interpreted that I was in favor of the stimulus bill or even another one, but how could it have "helped push unemployment to 10%?

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by Dirtydawg View Post
    I've got a question not to be interpreted that I was in favor of the stimulus bill or even another one, but how could it have "helped push unemployment to 10%?
    Quote from the article:


    That is: When the government pays people 50 to 60 percent of their previous wage to stay home for a year or more, many of them do just that.

    And the stimulus bribed states to extend benefits — which have now been stretched to an unprecedented 79 weeks in 28 states and to 46 to 72 weeks in the rest. Before mid-2008, by contrast, only a few states paid jobless benefits for even a month beyond the standard 26 weeks.

    When you subsidize something, you get more of it. Extending unemployment benefits from 26 to 79 weeks was guaranteed to leave many more people unemployed for many more months.

    And longer unemployment translates to higher unemployment rates — because the relatively small numbers of newly unemployed are added to stubbornly large numbers of those who lost their jobs more than six months ago.

    Until benefits are about to run out, many of the long-term unemployed are in no rush to make serious efforts to find another job — or to accept job offers that may involve a long commute, relocation or disappointing salary and benefits.
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    Re: Did the Stimulus Create Jobs?

    It created lots more government jobs for sure.

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by Guisslapp View Post
    Quote from the article:
    I guess I should have read the article. You think?

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    Re: Did the Stimulus Create Jobs?

    Quote Originally Posted by Dirtydawg View Post
    I've got a question not to be interpreted that I was in favor of the stimulus bill or even another one, but how could it have "helped push unemployment to 10%?
    I don't think it "pushed" unemployment. I think it did nothing but waste money. Over and over I hear how people are having to show their jobs as one saved or created when the truth is now they may be working on a new project but would have been employed regardless. The money for the most part is still sitting there and you would be amazed at some of the things that will be purchased or wasted on when all if finally said and done. I work for the fed. govt. so I can say this with certainty - building up new govt. agencies and employees is certainly NOT the answer to any problem. The new agency for consumer protection is a joke and will be mostly staffed from current agencies that they will be duplicating services for. This stimulus package was and is a joke- except it is just not a funny one.

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