Add to Flipboard Magazine.

Mmm, credit default swaps...Which Starbucks-drinking human who likes to drink Starbucks coffee during work breaks is trying to defend the ObamUlus TelLyPoopter WhaleFail package today? Just the CBO, a national corrupt community organizing commune for Gaynesian economists: “The massive stimulus package passed last year to blunt the impact of the worst U.S. recession in 70 years created up to 2.1 million jobs in the last three months of 2009, the non-partisan Congressional Budget Office said on Tuesday.” It also lowered the unemployment rate by 2.1% and added 3.5% of economic growth during said quarter. Should the Democrats even bother trying to sell this awful news to deficit-conscious voters?

More liberal bullshit:

Though the economy performed more poorly than predicted, that was not due to the ineffectiveness of the stimulus package, CBO said.

“In CBO’s judgment, that outcome reflects greater-than-projected weakness in the underlying economy rather than lower-than-expected effects” of the stimulus, the research office said.

The package is likely to have the greatest impact this year, according to CBO. It is expected to boost GDP by between 1.4 percent and 4 percent and bring down the unemployment rate by between 0.7 percent and 1.8 percent in 2010, higher figures than last year when many of its programs were being set up. The impact is expected to trail off over the next two years.

Direct purchasing of goods and services by the federal government and states have been the most effective provision of the act, CBO said. Among the least effective: a tax credit for first-time homebuyers and a tax cut for the wealthy.

Don’t worry: it’s never too late to switch your vote to John McCain. UPDATE: Intern Riley… claims new research… says… oh god it IS too late to switch our votes to John McCain! What about Sarah Palin? No??



UPDATE 2-US stimulus added up to 2.1 mln jobs in Q4 2009-CBO [Reuters]

Previous article
Next articleForgotten Political Book Now Free With Two Packs of Camel Lights