Sunday
28Feb2010

CBO Report Pre-Ordained to Show Stimulus Succeeded

Posted February 24th, 2010   Heritage Foundation

Congressional Budget Office

The Congressional Budget Office (CBO) has produced a new report estimating that the $862 billion stimulus has thus far saved or created 1.5 million jobs.

Yet the CBO’s calculations are not based on actually observing the economy’s recent performance. Rather, they used an economic model that was programmed to assume that stimulus spending automatically creates jobs—thus guaranteeing their result.

Logicians call this the begging-the-question fallacy. Mathematicians call it assuming what you are trying to prove.

The CBO model started by automatically assuming that government spending increases GDP by pre-set multipliers, such as:

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Friday
19Feb2010

Neb. union: Stimulus saved ed jobs

LINCOLN (AP)

The president of Nebraska’s largest teachers union says the federal stimulus package saved more than 1,600 education jobs in the state.

Jess Wolf made the remark to mark the one-year anniversary of the stimulus package.

Nebraska got more than $1.5 billion in federal stimulus dollars meant to jolt the economy, with $234 million of that going to state aid for schools.

Wolf says that without that money, “teachers and other school employees would have been laid off, class sizes would have ballooned and property taxes would have gone up.”

Copyright ©2010 Omaha World-Herald®. All rights reserved

 

Friday
05Feb2010

One-Third of Stimulus Money Spent

by Christopher Flavelle, ProPublica - February 3, 2010 2:46 pm EST

The Obama administration has passed the one-third mark in getting last February’s stimulus dollars out the door, according to the latest numbers from Recovery.gov. That figure includes $176 billion in spending, and an estimated $93 billion in tax relief.

You can find these numbers and more on our interactive Stimulus Progress Bar.

The milestone comes on the heels of a new report from the Congressional Budget Office, which estimates that the total cost of the stimulus will be $75 billion more than the CBO had originally projected.

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Friday
05Feb2010

Stimulus Spending by State

How some of the major spending in the stimulus legislation will be shared among the states. Mouse over a state for details, or sort the rows in the chart below the map. --Updated 08/06/09

Thursday
15Oct2009

Recovery.gov Releases First Batch of Stimulus Reports

Christopher Flavelle, ProPublica - October 15, 2009

The federal government today released the first batch of reports detailing how recipients are spending the stimulus money. The reports cover the nearly 9,000 federal stimulus contracts awarded by the end of last month, which represent $16 billion of the $339 billion total that has been obligated by federal agencies or made available as tax relief. According to the data, which was posted this morning on Recovery.gov, that $16 billion has created or saved 30,383 jobs.

Although the information posted today covers less than 5 percent of the stimulus money in process so far, it marks an important test for the Obama administration, which pledged to hold the stimulus to a high degree of transparency and accountability. Visitors to Recovery.gov can see, for example, that Colorado reported the highest number of jobs created or saved — 4,695 and a half — and Rhode Island had the smallest — 5.93, as in 5 and 93 one-hundredths of a job. They can also see that a vaccine manufacturer called Sanofi Pasteur got the largest federal contract, at $1.4 billion, as well as see the winners of the other largest federal contracts.

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