Extreme Liberal's Blog

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Don’t Believe The Compulsive Liars – The Stimulus Worked And Continues To Work

Reality, what a concept! Republicans and their complicit media have succeeded in creating an alternate reality that isn’t based on facts, but well tooled opinions that get repeated over and over and over again on right wing radio, right wing television (you know who you are), cable news networks all trying to be as shallow as the ratings leader of cable news and since everyone is doing it, even the broadcast networks. As this alternate reality has been taking form over the last year, I continued to see analysis by countless economists without political agendas and yes, even conservative economists, that say the stimulus has been wildly successful at preventing more job losses and in recent months, increases in jobs. Here is one story from February…

Just look at the outside evaluations of the stimulus. Perhaps the best-known economic research firms are IHS Global Insight, Macroeconomic Advisers and Moody’s Economy.com. They all estimate that the bill has added 1.6 million to 1.8 million jobs so far and that its ultimate impact will be roughly 2.5 million jobs. The Congressional Budget Office, an independent agency, considers these estimates to be conservative.

[...]

For that, the stimulus package, flaws and all, deserves a big heaping of credit. “It prevented things from getting much worse than they otherwise would have been,” Nariman Behravesh, Global Insight’s chief economist, says. “I think everyone would have to acknowledge that’s a good thing.”

Something I’ve heard recently that proves the idiocy of Republicans and the media is the idea that because President Obama “promised” an unemployment rate of 8% and we haven’t reached it yet, that proves that the stimulus didn’t work. Let’s break that down. First, the 8% forecast was made early on in the administration before the dust had settled on the economic meltdown. A reminder for some folks that President Obama was inaugurated on January 20, 2009, please store that in your brains for a minute. Everything that happened prior to that date, was done by the Bush administration. Everything leading up to that day in regards to the economy, happened under Bush. I’m sure the pea brains on the right will jump to the “stop blaming Bush” line that they trot out whenever anyone tries to give perspective to how we got where we are. How can they put everything at the foot of Obama after just 18 months, but can’t wrap their heads around the fact that being president for 8 years kind of lays some of the responsibility for the state of the economy at your feet. It is surreal that the media can now discard 8 years of gutting our economy and because Obama has been president for 18 months now, it’s ALL his fault. “Can’t blame Bush anymore, it’s Obama’s now” has become the new media line.

I just heard David Gregory, who seems to have an agenda when it comes to the Obama administration, present the stimulus as if its sole purpose was to keep unemployment at 8%, nothing else, that was the only reason and measure. The Republicans have succeeded in brainwashing the media and therefore the public of this meme. I live in Michigan where every day I see the stimulus dollars at work and I’ve said it before, those people working on the roads and bridges are collecting checks, paying their bills, paying their taxes, buying stuff that helps business stay afloat…..how can the right wing dismiss these people as non existent. All those teachers, police and firefighters that have kept their jobs because of the stimulus…I hear the right wing refer to them as government jobs as if they are robots, not people. Since when did a teacher, a cop and a firefighter become government workers?

I’m going to continue to push back against the perpetual lies of the Republicans, although it’s hard to keep track of all the lies that spew out of the right of this country. For a party that claims to be rooted in Christianity, there sure is a lot of sinning going on. I guess hypocrisy doesn’t just show up in their politics but in their very being.

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July 16, 2010 - Posted by | Economy, Politics, President Barack Obama |

5 Comments »

  1. We’re sure on the same page this morning, Jim. I’ve been thinking about this whole “the stimulus didn’t work” meme. People have totally forgotten what happened on and immediately following the dying of Lehman Brothers within the markets. Remember at one point during those days, the market was down over 900 points. People were ready to jump out of windows. We then bottomed out at around 6600, but have been as high as 11,000 in 18 months time. How can anybody argue that nothing in our economy is better, and in fact, Obama made everything worse? Everybody with a 401(k) knows that huge hit they took during the end of 2008 and most of 2009 and where they are today. All of the money isn’t back, but without the policies the Obama administration put in place, lots of people would have nothing left today. Most of them those very same independents that are bitching the loudest right now.

    I saw your governor on Keith Olbermann yesterday. (By the way, she is a fantastic spokesperson for the Democratic party.) Anyway, according to her, Michigan has opened nine battery facilities, with another seven ancillary facilities doing parts and such. These companies are direct results of stimulus dollars, and have created manufacturing jobs here in the good ole USA in areas that really needed new jobs. Additionally, these companies are projected to add another 62,000 jobs over the next ten years. Imagine the growth from that one investment piece of the stimulus multiplied over a few states during our lifetimes. Or, how about the auto industry. Without the intervention of the government, how many flippin’ jobs would have been lost not only in that industry specifically, but in the auto glass industry, and the auto paint industry, and the auto doozit stuff industries? Millions more people would be unemployed today from jobs that would never come back. Hell, if you think the steel industries moving to China killed the Midwest, losing the auto industry and all its connecting industries would have buried us in third world conditions for a very long time.

    Considering how much of the electorate depends on the media to give them the truth, and they accept Fox News et al as such, and combined with the ineptness of the Democrats to get their message out, I really think we’re screwed.

    Comment by staci | July 16, 2010 | Reply

  2. There are a lot of things bothering me these days about the media in particular and of course, my fellow democrats who just don’t seem to know how to remain in power. They fuck it up everytime.

    It is really amazing the amnesia most of the media has suffered over the last 2 years. And the funny thing is that it’s all on Youtube, for the most part. It’s not like it’s undocumented or something, that’s why I love it when Rachel or Keith dig into the archives…Jon Stewart too…and throw people’s words right back in their faces.

    I’m not as worried about November or 2012 as most, David Ploufe is on the job and the Repugs have given us liberals a whole lot of clips to cut to of them saying the most stupid things. Geez, they have Sharon Angle, Rand Paul, Sarah Palin, Michael Steele, Newt Gingrich, Glenn Beck, Rush Limbaugh, Mitch McConnell, Joe Barton, Jan Brewer, Mel Gibson :), Sean Hannity, Ann Coulter, the whole Fox News cast of characters……there isn’t a sane one in the bunch. And these are the leaders of the party right now, the face of the Republican party. These polls that the right wing are running with….totally biased and non-predictive of what will happen in the fall.

    Jennifer Granholm has suffered a similar fate as Barack Obama, she’s term limited so will be joining the Obama administration next year, guaranteed. But she was handed a big mess when she took over and suffered the fallout from the Bush years of gutting our economy, the auto industry as you know took the biggest hit with the downturn in the economy. Considering all the bullshit, she’s done an amazing job. But since unemployment is 13%, it doesn’t matter that it would have been 18%, it’s still 13% and that’s all that matters to some.

    Comment by ExtremeLiberal | July 16, 2010 | Reply

  3. I think its going to be some time before we fully get out of this mess. I suspect it might take us ten years or more to get out of it no matter whose president. Their is a chance Obama can lower the length of time significantly like down to five years and some of what I’ve seen has shown that he’s stepping in the right direct. Yet the media, republicans, etc want to make it sound like Obama’s done absolutely nothing when it comes to anything.

    First they never bothered to correct Michael Steele’s comment that Obama started the war in Afghanistan. It was Bush that invaded both of these countries yet not even Michael Moore on his website bothered to call him out on it.

    Second nothing the media reports anymore with the exception of the nightly news is fact anymore. It’s all opinions from lobbyists or talking heads. Nothing and I mean absolutely nothing you see from MSNBC or Fox has anything to do with fact. Even when they report the news they always throw a political spin on it.

    The public’s opinion about Obama has taken some pretty big hits but his disapproval ratings at this stage are hardly record breaking or even close to the Carter levels. At this stage polls don’t really mean anything it’s near the end when its important. Yet Mathews and other pundits can’t shut up about poll ratings. Not only that but they out right distort and lie about them (polls have a margin of error which means that they aren’t that accurate).

    For example the healthcare bill, was disappointing for some but not everyone who disapproved of the bill wanted it appealed despite what Rassmussen claims and much of that poll I know to be distortion after distortion. Yet the media eats the polls up like its some form of fact or something.

    Comment by Jeff | July 16, 2010 | Reply

  4. It kind of makes your head explode. I’m trying not to letmyselft get too angry at some of the pundits. I also watch and listen to C-Span and I am starting to realize, they don’t have any decent newpapers to choose from for accurate news. And they even distor some things and do not correct erroneous statements. This election cycle should be interesting. If the dems don’t comeout in great numbers the machines will take care of who gets into congress. So folks, you need to get your stuff together and keep the dems in control for another two-six years.

    Comment by Roberta in MN | July 16, 2010 | Reply

  5. Jeff: I’ve always wondered how much of that “disapproval” number include folks from the left who were pissed that there was no single payer or public option. I’m guessing the question never delved into why a person was unhappy with the healthcare bill, and I absolutely suspect that the media were aware that these folks were included in that category.

    Comment by staci | July 16, 2010 | Reply


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