Stimulus boosted U.S. GDP by up to 4.5 percent in 2Q 2010

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    Aug 24, 2010 9:59 PM GMT
    Oh dear... what will our conservative/libertarian friends have to say about this?

    ReutersStimulus boosted U.S. GDP by up to 4.5 percent in 2Q 2010
    1 hr 29 mins ago

    WASHINGTON (Reuters) – The massive stimulus package boosted real GDP by up to 4.5 percent in the second quarter of 2010 and put up to 3.3 million people to work, the nonpartisan Congressional Budget Office said on Tuesday.

    CBO's latest estimate indicates that the stimulus effort, which remains a political hot potato ahead of the November congressional elections, may have prevented the sluggish U.S. economy from contracting between April and June.

    Economists surveyed by Reuters expect that revised numbers due out on Friday will show that the economy grew at an anemic 1.4 percent pace during that time period -- less than the boost of at least 1.7 percent that the stimulus provided, according the CBO estimate.

    The massive package of tax cuts, construction spending and enhanced safety-net benefits was passed in February 2009 in the midst of the deepest recession since the 1930s.

    It raised employment by between 1.4 million and 3.3 million jobs during the second quarter of this year, CBO estimated.


    http://news.yahoo.com/s/nm/20100824/bs_nm/us_usa_economy_stimulus/print
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    Aug 24, 2010 10:34 PM GMT
    Gay ghetto.

    Destruction of America.

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    Aug 24, 2010 11:32 PM GMT
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif


    I sincerely hope you understand aviation better than you do macroeconomics. icon_rolleyes.gif
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    Aug 24, 2010 11:36 PM GMT
    Christian73 said
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif


    I sincerely hope you understand aviation better than you do macroeconomics. icon_rolleyes.gif


    I have to say that blocking this hateful person has made these fora much more appealing.
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    Aug 24, 2010 11:39 PM GMT
    gregography said
    Christian73 said
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif


    I sincerely hope you understand aviation better than you do macroeconomics. icon_rolleyes.gif


    I have to say that blocking this hateful person has made these fora much more appealing.


    If you blocked him how are you able to respond?
  • Webster666

    Posts: 9217

    Aug 25, 2010 12:06 AM GMT
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif




    NICE WORK.
    LEAVE ALL YOUR LIGHTS ON FOR A MONTH, AND OUR REPUBLICAN ECONOMIC CRISIS SHOULD BE OVER.
  • Webster666

    Posts: 9217

    Aug 25, 2010 12:09 AM GMT
    mocktwinkie said
    gregography said
    Christian73 said
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif


    I sincerely hope you understand aviation better than you do macroeconomics. icon_rolleyes.gif


    I have to say that blocking this hateful person has made these fora much more appealing.


    If you blocked him how are you able to respond?





    It's elementary, my dear Grasshopper.
    Other members quote his nonsense, then slap him down.
    This member is able to see the quoted text.
  • Webster666

    Posts: 9217

    Aug 25, 2010 12:11 AM GMT
    Christian73 said
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif


    I sincerely hope you understand aviation better than you do macroeconomics. icon_rolleyes.gif





    Since when is performing a seat belt demonstration and pushing a beverage cart down the aisle of an airplane, considered aviation ?
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    Aug 25, 2010 1:42 AM GMT
    Webster666 said
    southbeach1500 saidHmmm... $800 billion. 3 million people employed. $61,000 paid to each person for just the 2nd Quarter.

    What a deal!

    By the way, I turned on the light switch a few minutes ago. By doing that, I saved or created 10 million jobs.

    icon_rolleyes.gif




    NICE WORK.
    LEAVE ALL YOUR LIGHTS ON FOR A MONTH, AND OUR REPUBLICAN ECONOMIC CRISIS SHOULD BE OVER.


    I've asked you before, but you never responded: what "republican policy" in particular would you blame the most for the economic crisis?
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    Aug 25, 2010 4:39 AM GMT
    southbeach1500 said
    Webster666 said


    NICE WORK.
    LEAVE ALL YOUR LIGHTS ON FOR A MONTH, AND OUR REPUBLICAN ECONOMIC CRISIS SHOULD BE OVER.


    Oh no... your CAPS LOCK key is stuck on again. icon_cry.gif

    The Republican economic crisis is over. It's been replaced by the Summer of Obama recovery:

    unemploy_rate_2010_june.png



    Sigh... unemployment is a lagging indicator. So the full repercussions of the 2008 economic collapse were not fully felt until Summer 2009. And the impact of the Stimulus will not be fully felt until it has all been spent. Yes. Unemployment remains high, and that is terrible. But without stimulus funds to state and local governments it would be MUCH higher.

    And for all the attacks on what Obama has done, I've never heard a single suggestion from you on how to increase employment besides "cut taxes", a ridiculous canard when individuals and companies are paying the lowest marginal tax rates in nearly 70 years.