Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job; Economy Now Shedding Jobs Faster Than Creating Jobs

July 4, 2011

The stimulus is now causing the economy to shed jobs.

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents.

Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs.

The 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 — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.  

In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.

Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. 

In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it.

In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

From:  http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html

 

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Obama-messiah sells U.S. out to communist China; state sovereignty movement picks up steam

February 23, 2009

obama-communistObama-messiah sells U.S. out to communist China; state sovereignty movement picks up steam

 

Well, there goes the neighborhood. 

 

America is now little more than a subsidiary of communist China (see news article below). 

 

And you can thank Obama-messiah and Comrade Ho, aka Hilarious Clinton, for selling us out.

 

Of course, the Obama-messiah and his minions like HC will live in the lap of luxury for the remainder of their lives on this earth.  But our children and our grandchildren will be little more than labor serfs to the Chinese bureaucrats who will call the shots in this country from behind the scenes.

 

Our children and our grandchildren will work and toil and sweat just to pay the interest payment on this massive debt to the Chinese. 

 

The American people are only barely beginning to wake up to what’s happening.  I’m afraid that when they finally figure it out – if they figure it out — there is going to be blood in the streets.

 

Of course, the powers that be are ready for this.  So it will be to no avail.  It will only serve to strengthen the scope and power of the federal government over the people, which is exactly what the Obama-messiah wants.  He is pushing so hard, because he want to induce chaos in order to seize additional power for the federal government. 

 

My recommendation:  Work within the system to get rid of these communist bastards that are selling our country out to their commie friends overseas.  Stay within the confines of civil law, as instructed in our heavenly Father’s Word (Titus 3:1, Heb. 13:17).

 

The 2010 mid-term elections (Nov 2, 2010) are only a relatively short while away.  We need to make sure conservative, Christian, pro-American candidates sweep these elections.  All 435 House seats will be up for grabs.  And 33 or 34 out of the 100 U.S. Senate seats will be up for grabs.  What’s more, 34 out of 50 states will be electing governors during those elections. 

 

Make no mistake, these are going to be make-it or break-it elections for this nation.  We must regain a conservative majority in Congress, and among the states, in order to begin overriding and even reversing Obama-messiah’s blatantly communist policies that are selling this nation down the river.

 

The winds of “change” blew Obama-messiah into office.  But they can blow him right back out again, just as happened when the Republican Revolution swept the liberals out of power halfway through Clinton’s term, and effectively stopped him from  implementing any more of his disastrous policies.

 

We need to make sure the same thing happens again.

 

Also, surprisingly, a number of states are reacting to Obama-messiah’s policies by introducing state sovereignty resolutions. These include Arizona, New Hampshire, Missouri, Oklahoma, Montana, Washington state and Michigan (see resolution #4).  Other states, such as California and Georgia already have such resolutions on the books, thanks to patriotic former members of their legislatures who had long-term vision and could see what was coming as the federal government gained more and more power, and began bullying the sovereign states.  

 

State sovereignty resolutions are designed chiefly to remind the federal government that your state stands firmly on the Tenth Amendment to the U.S. Constitution, which gives the states sovereignty, and protects them from overbearing federal intrusion into state matters, as well as from becoming mere vassals of the federal government.  Most of these resolutions also have language demanding that “the federal government cease and desist mandates that are beyond the scope of constitutionally delegated powers,” which, in Obama-messiah’s case, includes just about everything he is doing. 

 

The Tenth Amendment of the United States Constitution, which is part of the Bill of Rights, was ratified on December 15, 1791, and restates the Constitution’s principle of Federalism by providing that powers not specifically granted to the national government nor specifically prohibited to the states are reserved to the states and to the people. It is based on an earlier provision of the Articles of Confederation: “Each state retains its sovereignty, freedom, and independence, and every power, jurisdiction, and right, which is not by this Confederation expressly delegated to the United States, in Congress assembled.”

 

One of the many beauties of a state sovereignty amendment is that it publicly reaffirms a state’s Constitutional right to LEGALLY oppose the imposition of martial law by the federal traitor-in-chief.  In a state that has reaffirmed its right to sovereignty, it may be easier to convince the local police and local National Guard to remain loyal to their state, should the Obama-messiah attempt to federalize them in order to turn them against their own citizens and force federal policies upon them. The idea is not to instigate a battle between the federal government and the states, but instead, to signal to the feds in advance that they need to back off and stay within the confines of the 10th amendment in their policy-making. 

 

As writer and radio show producer Jake Jones points out in his article in the Evangelical Examiner, titled New Hampshire Lawmakers Say Obama’s Plan Would Void Constitution:

 

“Obama’s plans for a federal handgun license, ‘hate crimes’ laws to regulate Christians’ speech about their own religious beliefs on homosexuality, a youth corps for mandatory public service and the revival of the so-called ‘Fairness Doctrine’ to ‘balance’ talk radio have New Hampshire lawmakers telling Obama to basically grow up and get some better ideas…They say that if Obama’s plans are implimented, it would constitute a nullification of the Constitution for the United States.”

 

Jones goes on to say:

 

“Christian should be concerned with what is going on in the Obama administration.  Freedom of speech is something that Christians have always used to spread the ‘Good News’, tell the truth about sin, and for Pastor’s to speak freely on social and family issues from the Pulpit.  If Obama is successful in asserting his plans, then speaking about any sin including but not limited to homosexuality would be a breach of Obama’s new laws. 

 

The Fairness Doctrine which was removed by Ronald Reagan back in the 80’s stands a good chance to be reinstated under the Obama administration.  There are many ‘Christian Talk’ radio and TV programs that would be limited by the proposed Obama standards.

 

Obama is also pushing for a ‘Hate Crimes’ law that has been discussed, debated by Congress but has yet to be passed.  Obama has made the passage of that law one of his top priorities.

 

Obama’s discussion of a youth corps for mandatory public service is also something that Christians should be concerned about.  That type of legislation sounds a great deal like something that occurred in Nazi Germany.  Next I expect that our young folks would be required to wear uniforms with black arm bands and wear the famous Nazi Jack boots.”

 

If your state is in the process of implementing a state sovereignty resolutions, be sure to support it.  If your state is not, then its high-time to get such a resolution started.  It’s one perfectly legal way for the citizens of the 50 states to send a message to the Obama-messiah that he is overstepping his bounds, and needs to back off.

 

— Spencer

 

 

Obama Sells U.S. to China Inc.

http://www.aim.org/aim-column/obama-sells-u.s.-to-china-inc/

 

AIM Column  |  By Cliff Kincaid  |  February 22, 2009

 

…with Hillary Clinton having signaled to the Chinese dictators that we will beg for their money and ignore unfair trade practices and even human rights violations, it will be left up to President Obama to seal the deal.

 

The truth is starting to seep out. Because of the need for more money to finance the latest bailout―the Obama economic stimulus plan―America is going further in debt to the Chinese Communists. Our country is officially being sold to the highest bidder. And we have striking confirmation of this fact from Secretary of State Hillary Clinton.

 

The good news is that a correspondent for the mainstream media―Wyatt Andrews of CBS News―has figured this out and has managed to get on the air with his terrifying findings. Andrews’ report on the Friday CBS Evening News with Katie Couric was direct and to the point. Clinton is in China to beg for a handout.

 

“The truth is the Administration needs China’s help. America’s stimulus is very expensive and the U.S. wants China to help finance it,” Andrews reported. This is what America has become―a country that sends its Secretary of State abroad to beg for money from foreigners. In this case, it’s a communist dictatorship that forces women to have abortions, tortures Christians, and threatens the freedom and democratic government of Taiwan.

 

So the cost of the “stimulus” is more sacrifice of American independence and sovereignty, as well as our own values, ideals, and commitment to human freedom. It is a sad day both for America and China.

 

Clinton was shown saying, “We are relying on the Chinese government to continue to buy our debt.” The almighty dollar takes precedence over everything else, even as it falls in value and the dangers of hyperinflation and national bankruptcy loom. The tragedy is compounded by the fact that pandering to the Chinese will not solve anything. This policy, set in motion by big banks and corporations and pursued by Democratic and Republican Administrations, is what got us into this predicament in the first place.

 

Clinton’s comments, which concern the overall economic policy of the new administration, are far more significant than the Obama mortgage plan. Clinton is getting to the heart of the issue―how the mortgage plan and the stimulus are being financed.

 

White House spokesman Robert Gibbs expressed irritation last week that CNBC commentator Rick Santelli went into a rant over the prospect of forcing American taxpayers to underwrite the bad mortgages of deadbeats and others who are unable to pay their mortgages. But Santelli only touched on one small part of the problem.

 

Where’s the outrage over the pro-China policy that spans several administrations, and which has benefited his corporate bosses at General Electric, of permitting the communist dictatorship in Beijing to have the upper hand in global trade relations? All that Santelli has to do to understand this problem is attend a GE annual meeting and listen to the complaints of the GE workers losing their jobs to China. But don’t expect to see anything about that on CNBC, NBC, or MSNBC.  

 

If you want more information on this travesty, please go to the website http://www.screwthatbulb.org and learn how GE is going “green,” which has the effect of shipping American jobs to China. If Santelli did a rant about that, you can bet he wouldn’t be on the air again.

 

We were already in terrible shape under the Bush Administration because of a mysterious financial collapse apparently caused by illegal manipulation of our markets, but now the communists have us completely over a barrel because the Obama Administration, with the acquiescence of Congress, recklessly decided to spend even more money that we don’t have. Under the circumstances, this is criminal negligence.

 

Mrs. Clinton is officially stating what everyone should know is the truth. She deserves credit for being brutally honest. America has become a subsidiary of China Inc. In order for the U.S. to stay afloat, we have to depend on Beijing to finance a bailout. But the other major problem, of course, is that the stimulus is not a bailout in any real sense of the word. It depends on more government debt and borrowing at a huge cost of being more indebted to the Chinese. So the bailout is really digging our nation’s grave deeper.

 

To make matters even worse, as the Andrews report made clear, the cost will include the jobs that the Obama Administration says will be created by the stimulus. He interviewed an American manufacturer about the loss of American jobs caused by China’s trade practices, who said that the “cheating” in global trade has cost millions of American manufacturing jobs.

 

In the end, the only “jobs” that will be created or “saved,” as Obama likes to say, will likely be those benefiting from spending the federal money that the federal government doesn’t have. Most of them work for government at all levels.

 

Productive private sector manufacturing jobs will not be created―and cannot be―because despite their campaign promises, neither Obama nor Hillary will do anything about those unfair Chinese trade practices, such as the currency manipulation, that make Chinese goods artificially cheap and American goods more expensive.

 

The Andrews report, which caught me completely by surprise on a newscast that tends to portray the new Administration in completely flattering tones, was absolutely blistering in contrasting what Obama and Clinton had said during the campaign and what they are doing now.

 

“Both the man who became the President and his future Secretary of State told the voters they would make the [trade] cheating go away,” Andrews reported. He showed candidate Obama saying that he would do everything in his power to stop China from manipulating its currency and Hillary saying that she would “aggressively crack down on China’s unfair trade practices.” These claims were shown to be empty and abandoned campaign promises. We should have assumed that would be the case.

 

Andrews asked Secretary of State Clinton about this and “she explained that times have changed.” Clinton said, “That was at a different time when we weren’t facing the kind of difficult situations we face today.” Translation: we need their money and we are in no position to demand or criticize anything. These Clinton comments preceded Andrews’ remarks about the cost of the stimulus and the perceived need to get China to help finance it.

 

As we had noted in a previous column about the Administration’s so-called economic program, Clinton was going to China for the purpose of getting Chinese money to finance the stimulus. Now we have it all on the record. Her trip was designed to reinforce Treasury Secretary Timothy Geithner’s private conversations on this topic with Chinese officials.

 

The land of the free and the home of the brave has now become the land of the quivering milquetoast, in awe of an emerging Communist giant that our big banks and corporations, as well as our government, have built into an economic superpower.

 

President Obama apparently sees nothing wrong with this. Indeed, during the campaign he praised China’s staging of the Olympic Games, saying their infrastructure was impressive and was something the U.S. might consider emulating.

 

Now, with Hillary Clinton having signaled to the Chinese dictators that we will beg for their money and ignore unfair trade practices and even human rights violations, it will be left up to President Obama to seal the deal. When he gives his State of the Union-like speech to Congress and the American people on Tuesday night, he will in reality be auditioning for a front-row seat on the board of directors of China Inc. Don’t expect to hear anything critical of the butchers in Beijing.

 

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Cliff Kincaid is the Editor of the AIM Report and can be reached at cliff.kincaid@aim.org