Daily Archives: 14. September 2011

The Kings and Queen of Mean.

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So far, the debates between Teapublican presidential candidates have been very entertaining. Watching them is somewhat like watching Voldemort, Simon Legree, the Joker, Scrooge, Alfred E. Neuman, Lex Luthor and the Wicked Witch of the West face off to see who can be nastier, more spiteful, more repugnant and more snide.

Yet the sentiments of the audiences have been even more revealing.

In one debate, an audience of upper middle class white Californians actually broke out in applause upon the mere mention of Gov. Perry’s 234 executions. In another debate, when confronted with the question of whether or not the government should allow a hypothetical uninsured young American die, members of the pitchfork crowd in Tampa screamed “yes.”

And these are the religious so-called “values” people?

If voters are unwise enough to put them in charge of our country, we won’t have to build a bigger fence to keep immigrants out of our country. We’ll have to build one to keep our own citizens in.

Teapublican Lie #6.

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“President Obama’s economic stimulus failed.”

You’ve heard this over and over again from the mouths of virtually every Teapublican. They all loudly proclaim President Obama’s stimulus plan “a complete and utter failure.” They make it sound as if Democrats wasted $787 billion of taxpayer money. But as you’ll see, it’s just another Teapublican lie. To learn the truth, I turned to the non-partisan Congressional Budget Office (CBO).

In the second quarter of 2010 (one year after it’s passage), CBO estimated that the American Recovery and Reinvestment Act (ARRA) had:

– Raised the level of real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.5 percent
– Lowered the unemployment rate by between 0.7 percentage points and 1.8 percentage points
– Increased the number of people employed by between 1.4 million and 3.3 million
– Increased the number of full-time-equivalent (FTE) jobs by 2.0 million to 4.8 million

Similarly, in the second quarter of 2011, the CBO estimated that ARRA’s policies had the following effects compared with what would have occurred otherwise:

– Raised real (inflation-adjusted) gross domestic product by between 0.8 percent and 2.5 percent
– Lowered the unemployment rate by between 0.5 percentage points and 1.6 percentage points
– Increased the number of people employed by between 1.0 million and 2.9 million
– Increased the number of full-time-equivalent (FTE) jobs by 1.4 million to 4.0 million

And even though CBO has said that the employment effects will wane in 2012, it estimates “ARRA will raise real GDP in 2012 by between 0.3 percent and 0.8 percent and will increase the number of people employed in 2012 by between 0.4 million and 1.1 million.”

Some failure!

The real question about the economic stimulus is, “Where would we now be without it?”