The Foundry

Posts Tagged ‘Obama’s failed stimulus’

• Answering DeLong, Yglesias, and Collender

  Posted February 23rd, 2010 at 11:12am in Enterprise and Free Markets with 2 comments

  My Corner post from last Wednesday — pointing out that government “stimulus” spending does not add new purchasing power to the economy because the government must first borrow that purchasing power out of the economy — caused a stir among liberal bloggers Brad DeLong, Matt Yglesias and Stan Collender. Their posts suggest they likely didn’t actually [...] More

• Tweet of the Week: On Elvis and the Failed Stimulus

  Posted February 19th, 2010 at 4:30pm in Ongoing Priorities with 10 comments

  Representative Shock reminded Americans this week that more people believe that Elvis Presley is still alive than believe that Obama's failed stimulus has produced jobs. More

• Morning Bell: A No-Cost Stimulus That Can Create Real Jobs for the American People

  Posted February 19th, 2010 at 9:33am in Enterprise and Free Markets with 50 comments

  In today’s Wall Street Journal, former President Bill Clinton’s pollster Doug Schoen writes: “Sen. Evan Bayh’s stunning decision to retire should serve as more than a wake-up call to Democrats. It should spur a fundamental re-examination and reorientation of the party’s policies, practices and approaches leading into the fall election. Let’s be clear. The Democratic [...] More

• One Week After Passing, Congress Set to Break PAYGO

  Posted February 18th, 2010 at 1:00pm in Entitlements, Ongoing Priorities with 0 comments

  Just last week Congress revived PAYGO legislation which is supposed to force legislators to offset any new spending with spending cuts elsewhere in the budget. While this won’t come as a shock to most Foundry readers, The Hill reports that “the ink is barely dry on the pay-as-you-go law, and Democrats are seeking to [...] More

• Obama’s Faith-Based Economics

  Posted February 18th, 2010 at 10:05am in Enterprise and Free Markets with 1 comments

  On the stimulus’s first anniversary, keep in mind one number: 9 million. That is the Obama jobs gap — the difference between the 3+ million net jobs President Obama said would be created (not just saved) and the nearly 6 million additional net jobs that have since been lost. By the president’s own logic, the stimulus failed. [...] More

• Morning Bell: Don’t Celebrate First Failed Stimulus with a Second One

  Posted February 16th, 2010 at 9:29am in Enterprise and Free Markets with 35 comments

  Tomorrow is the one-year anniversary of the American Recovery and Reinvestment Act, or as it is more accurately described, President Barack Obama’s Failed Stimulus. When President Obama signed the now $862 billion deficit-spending bill into law, the unemployment rate stood at 7.6% and the U.S. economy employed 133.5 million people. At the time President Obama [...] More

• Economic Impact of Stimulus Spending: A Response to Menzie Chinn

  Posted February 10th, 2010 at 4:25pm in Enterprise and Free Markets with 5 comments

  At Econbrowser, Dr. Menzie Chinn provides a succinct summary of my critique of CEA’s “Economic Impact of the Stimulus” report when he writes, “…these implied increments to growth rates do not jibe with the inferences drawn by Dr. Campbell — that the impact on GDP is much smaller than CEA asserts when using forecasts from [...] More

• Solar Subsidies Fail to Create Green Jobs, Again

  Posted February 10th, 2010 at 3:00pm in Energy and Environment, Enterprise and Free Markets with 3 comments

  As we reported in today’s Morning Bell,  ABC News reports that despite massive amounts of stimulus funding being spent on wind farms—nearly $2 billion—the vast majority (80%) of it has been spent on overseas companies. ABC contacted Russ Choma at the Investigative Reporting Workshop who suggested that the project has resulted in nearly 6,000 jobs for overseas [...] More

• Morning Bell: Snow Slows Obama’s Second Stimulus

  Posted February 9th, 2010 at 9:52am in Enterprise and Free Markets with 38 comments

  The snowstorms that have already dumped over two feet of snow on the nation’s Capitol and that are threatening to dump another 12 to 16 inches, have ground the legislative process to a halt. But that might not be such a bad thing. Senate Democrats had hoped they could pass President Barack Obama’s second stimulus today, [...] More

• Morning Bell: Second Stimulus, Same as the First

  Posted February 5th, 2010 at 9:46am in Enterprise and Free Markets with 43 comments

  When President Barack Obama was sworn into office, the U.S. economy employed 134.6 million people and the unemployment rate stood at 7.6%. In response to growing job losses, President Obama passed an $862 billion stimulus plan that his economic experts promised would help the United States employ at least 138.6 million people by 2010. Reality has [...] More