Thursday, December 3, 2009
Tuesday, December 1, 2009
Pelosi: Deficit Tripled and We're Not Getting Anything For It
Building the case for a brand new jobs-creation bill, House Speaker Nancy Pelosi says most Americans would not mind inflating the already-gaping deficit in exchange for more jobs. The California Democrat said on a conference call Tuesday that Americans could “absorb” the hit to the federal budget, and she argued that their biggest complaint is not that the deficit is big — it’s that they’re not seeing any benefit in return for increasing the U.S. debt load. Despite the $787 billion stimulus package passed in February, unemployment climbed to 10.2 percent in October. While critics cite the jobless rate as a sign that the stimulus has failed, Pelosi argues that the federal government is just not trying hard enough. “We have to shed any weakness that anybody may have about not wanting to be confrontational on this subject for fear that we’d be labeled not sensitive to the deficit,” Pelosi said, in a recording posted by Think Progress. “The American people have an anger about the growth of the deficit because they’re not getting anything for it.” So now they want to do it all over again.
Tuesday, November 24, 2009
Jobs Saved? One.
Tuesday, November 17, 2009
Stimulus At Work, Jobs Created in Non-Existent Places
Thursday, November 5, 2009
Stimulus Jobs Don't Add Up
More than $4.7 million in federal stimulus aid so far has been funneled to schools in North Chicago, and state and federal officials say that money has saved the jobs of 473 teachers.
Problem is, the district employs only 290 teachers.
(snip)In the official report, Wilmette Public Schools District 39 was credited with 166 jobs saved by stimulus aid. Superintendent Raymond Lechner said the number should be zero.
At Dolton-Riverdale School District 148, stimulus funds were said to have saved the equivalent of 382 full-time teaching jobs -- 142 more than the district actually has.
A similar discrepancy was found in data for Kankakee School District 111, where the stimulus report logged the equivalent of 665 full-time jobs saved. "That's impossible," a top Kankakee school official said, adding that the entire payroll -- full and part time -- is 600 workers.(snip)Last spring, Dolton-Riverdale received $3.6 million in stimulus money and reported to the state that the money saved 181 teaching jobs. A follow-up report this fall on another installment of $750,000 brought the total to 201. The official state report states that stimulus money saved 382 jobs.
Problems with the Illinois stimulus data illustrate how difficult it is to benchmark the impact of so sprawling an initiative. Many districts were unclear about what they should report. And there also may have been confusion over how the data were collated once the figures arrived at the state level.
Just a handful of the jobs were new, Rafferty said, and he warned that every position propped up by stimulus money would be in jeopardy when the program expires. "Unless there's a guarantee of continuation of (federal or state) money, the vast majority of these will be eliminated because there won't be local resources to fund them," he said.
UPDATE: I wonder if all the new teachers being hired are needed to teach schoolchildren all the new "Barack Obama Praise Hymns" that seem to be so popular these days.Read more...
Monday, November 2, 2009
Obama's Reputation On the Line Tomorrow
Yes, it's 2009, an odd-year, but there are a handful of elections happening tomorrow, and they'll be watched very closely, since they're the first ones since Obama's election last year. The big ones: The Virgina governorship, the New Jersey governorship, and the NY-23 Congressional district. In New Jersey, it looks like voters might be ready to throw out ex-Goldmanite Jon Corzine, due to anger about higher taxes and the weak economy. But a third-party run from Chris Daggett may keep him in office. The one that would really be a blow to Democrats is in Virginia, where it looks as though Republican Bob McDonnell will beat Democrat Creigh Deeds. Why a big deal? Because Virginia has been trending blue, and thus would mark a decisive reversal of that trend. Suddenly it seems like Republicans have some life and voter enthusiasm. Remember just a few months ago when there were questions about whether it would ever be a serious party again? Of course, this has very little to do with the Republican party and more to do with independent and conservative voters being very unhappy with the direction Obama is taking us. Voters aren't jumping onto the Republican bandwagon ... not just yet, anyway. They are, however, willing to vote republican to slow down the march toward socialism. The Republicans still have a long way to go before they can capture the imaginations of voters with their own ideas. A good start would be a strong move to the right, particularly on fiscal issues. Americans are concerned about the National Debt and about the economy. The current recession is still Bush's fault, all inherited from the "previous administration" according to the White House. That theme was echoed again Friday in a speech by V.P. Joe Biden, defending the one million, no wait, the 30,000, no wait, the 20,000 jobs created by the Stimulus package. As the recession drags on (and it is dragging on, in spite of some good news on Wall Street), Americans are beginning to see the disastrous toll that the administration's policies are having on businesses, particularly small businesses. While Obama is willing to throw money at the economy, he is unwilling to establish pro-business policies, and until that happens, it is unlikely we'll see a strong rebound like we have following past recessions. This may be an off year, for elections, but unless things change, and unless they change a lot, expect huge gains by Republicans in 2010.
Thursday, October 29, 2009
Yesterday, Fox; Today, Associated Press
Showing no shame, the Obama administration today slammed a report from The Associated Press alleging the government had overstated by thousands the number of jobs it has created or saved with federal contracts under President Obama's $787 billion recovery program. The White House seized on an initial report from a government oversight board weeks ago that claimed federal contracts awarded to businesses under the recovery plan already had helped pay for more than 30,000 jobs. The administration said the number was evidence that the stimulus program had exceeded early expectations toward reaching the president's promise of creating or saving 3.5 million jobs by the end of next year. But the 30,000 figure is overstated by thousands -- at the very least by nearly 5,000, or one in six, based on AP's limited review of some of the contracts -- because some federal agencies and recipients of the money provided incorrect job counts. The review found some counts were more than 10 times as high as the actual number of jobs; some jobs were credited to stimulus spending when, in fact, none were produced. Within minutes of the publication of AP's story, the White House released a statement at 12:15 a.m. Thursday that it said was the "real facts" about how jobs were counted in the stimulus data distributed two weeks ago. "This story draws misleading conclusions from a handful of examples," Ed DeSeve, an Obama adviser helping to oversee the stimulus program, said. "Tomorrow, more than 100,000 recipient reports will be posted on Recovery.gov," DeSeve said. "Unlike the small number of reports reviewed by AP, these reports have been reviewed for weeks, errors have been spotted and corrected, and additional layers of review by state and local governments have further improved the data quality." Nevertheless, the White House said it is aware there are problems. In an interview, the advisor said agencies have been working with businesses that received the money to correct mistakes. It asserted that had been a test run of a small subset of data that had been subjected only to three days of reviews, that it had already corrected "virtually all" the mistakes identified by the AP and that the discovery of mistakes "does not provide a statistically significant indication of the quality of the full reporting that will come on Friday." "If there's an error that was made, let's get it fixed," DeSeve said. There's no evidence the White House sought to inflate job numbers in the report, but the administration embraced the flawed figures the moment they were released. The data partially reviewed by the AP for errors included all the data presently available, representing all known federal contracts awarded to businesses under the stimulus program. The figures being released Friday include different categories of stimulus spending by state governments, housing authorities, nonprofit groups and other organizations. As of early Thursday, on its recovery.org Web site, the government was still citing 30,383 as the actual number of jobs linked so far to stimulus spending, despite the mistakes the White House has now acknowledged and said were being corrected. A Colorado company said it created 4,231 jobs with the help of Obama's economic recovery plan. The real number: fewer than 1,000. A child care center in Florida said it saved 129 jobs with the help of stimulus money. Instead, it gave pay raises to its existing employees. Elsewhere in the U.S., some jobs credited to the stimulus program were counted two, three, four or even more times. The discrepancy raises questions about the reliability of a key benchmark the administration uses to gauge the success of the stimulus. The errors could be magnified Friday when a much larger round of reports is released. It is expected to show hundreds of thousands of jobs repairing public housing, building schools, repaving highways and keeping teachers on local payrolls.
The Cost of Cash for Clunkers
Thursday, October 15, 2009
Stimulus Saved 30,000 Jobs
The first direct stimulus reports showed that stimulus contracts saved or created just 30,083 jobs, prompting more Republican criticism of the$787 billion package. The data posted Thursday was the result of the government's initial attempt at counting actual stimulus jobs. Obama administration officials stressed that data was partial -- it represented just $16 billion out of the $339 billion awarded -- but they said it exceeded their projections. "All signs -- from private estimates to this fragmentary data -- point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months, a much needed lift in a very difficult period for our economy," said Jared Bernstein, the chief economist for Vice President Joe Biden. So, thirty thousand equals one million, according to Biden. These are the same guys who are telling us that ObamaCare will reduce the deficit and save us money. I didn't make this up. .... really.