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Obama touts results of stimulus today

Original post made by jimf01, another community, on Oct 21, 2009

Pres Obama just finished a speech in which he promised additional help for small businesses. He acknowledged that over the past 15 years, ‘small businesses have created 65% of all new jobs in this country'. He then went on to claim that the ‘Recovery Act focused on helping small businesses' and that ‘these steps have made a real difference'.
What is that difference? ‘The Recovery Act has supported over 33,000 loans to small businesses that have already helped save or create nearly tens of thousands of jobs - nearly $13 billion in new lending.'

Help me out here, what is the claim? What is nearly tens of thousands?
$13,000,000,000 / 33,000 small businesses = $393,939.39 average per business

33,000 small business / 10,000 jobs = 3 jobs per business, or $131313 per job created?

Sorry, I am an ignorant FNC viewer with no advanced degree.

I guess when stimulus results are falling a bit short of projections Web Link then the admin is going to have to be careful about their claims.

CBS news does a little more digging into the stimulus results here Web Link

They calculate that federal contracts have spent over $500k per job. Since that money was only 5% of the recovery money spent so far, the White House accounted for the other 95% of the money by taking the 30,000 jobs created by federal contracts and multiplying it by 20. Then they doubled that number! Reason being, they say, is each direct job creates one indirect job somewhere else in the economy. Where? No one knows.
Anyhoo, viola! 1.2 million jobs saved or created by the stimulus. Sounds a lot better than the actual unemployment statistics from the US DoL, which is 2.7 million jobs lost since the stimulus was passed.

Comments (7)

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Posted by poster boy
a resident of Another Pleasanton neighborhood
on Oct 21, 2009 at 1:39 pm

We should not get excited over it as it is just the Obama propaganda of the day. Everyday we walks out there and gives us that weaka....s stuff. Just a bullsh....r!


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Posted by Langdon
a resident of Another Pleasanton neighborhood
on Oct 21, 2009 at 2:09 pm

It sounds like a move in the right direction.


 +   Like this comment
Posted by Curious
a resident of Del Prado
on Oct 21, 2009 at 2:40 pm

@ Bizarro poster boy - please do us a favor when commenting and review your post prior to sending. In addition to poor punctuation and spelling, your grammer is atrocious Thank you for your assistance.


 +   Like this comment
Posted by poster boy
a resident of Another Pleasanton neighborhood
on Oct 21, 2009 at 2:41 pm

curious,

I could not care less and just go back to class and teach the kiddies.


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Posted by Patriotic Moderate
a resident of Another Pleasanton neighborhood
on Oct 21, 2009 at 11:51 pm

Does anyone really believe only Obama can do this? and Obama can claim credit for the recovery? It's a matter of time the our economy will turn around after pouring so much of our treasury into the economy. Oh, the economy hasn't turned the corner... it only slowed down the bleeding... which was caused not by one administation but over several of them... don't kid yourself by blaming only the previous administration. Oh, by the way, when the economy was going well in Bush's adminstration, did anyone complain? So why are we blamin Bush's administration for everything? Don't be so two-faced!


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Posted by Darlene
a resident of Country Fair
on Oct 22, 2009 at 11:38 pm

I'm puzzled with the opening line... 'he promised additional help for small businesses'. Additional implies there has been some....there has not. Less than 20% of that historic, giagantic stimulus 'pot' of imaginary money has been spent on some things, but what is has been spent on is $$ to municipalities, cities, counties, & states for existing PUBLIC UNION positions, like overtime for cops etc, ....and to UAW & other Detriot unions....who now own GM along with us taxpayers. But, hi-tech businesses in NO CAL, having had huge layoffs, & reductions/furloughs have received zero help. Too bad the greater BayArea doesn't have US Senators or Representatives that give a s****, (darn) about the greater Bay Area. He's been sitting on the other 80+%. At this point, I wish it could be removed from the stimulus column & put back in the 'people's column'. But his plans have been to sit on the stimulus.....until next year...for distribution to buy votes during the 2010 congressional races next year ! Yesterday's trick was out of the blue & over the top however. The ides of giving $250. to all social security receipients to the most TRANSPARENT thing about the stimulus. Most 'seniors' were the weakest group in Obama's election.... so he's sort of greasing their palms & buttering up the seniors to get them on his side & to silence them during the health care battle which will get loud this next month.


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Posted by jimf01
a resident of another community
on Oct 23, 2009 at 9:39 am

jimf01 is a registered user.

In the Philippines, they bring a truck out and hand out sacks of rice at the campaign rallies. Same difference.


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