http://www.politico.com/news/stories/0110/31914.html
White House advisers appearing on the Sunday talk shows gave three different estimates of how many jobs could be credited to President Obama’s Recovery Act.
The discrepancy was pointed out by a Republican official in an email to reporters noting that “Three presidential advisers on three different programs [gave] three different descriptions of the trillion-dollar stimulus bill.”
Valerie Jarrett had the most conservative count, saying “the Recovery Act saved thousands and thousands of jobs,” while David Axelrod gave the bill the most credit, saying it has “created more than – or saved more than 2 million jobs.” Press Secretary Robert Gibbs came in between them, saying the plan had “saved or created 1.5 million jobs.”
Showing posts with label stimulus. Show all posts
Showing posts with label stimulus. Show all posts
Monday, January 25, 2010
Thursday, January 7, 2010
Stealth Rollback of Welfare Reform in 2009 Stimulus Bill
http://www.nypost.com/p/news/opinion/opedcolumnists/item_shLvwIX4Xr74Yl0ndOZE9L
Much of the "stimulus" bill is devoted to a backdoor undoing of one of Washington's greatest achievements of recent years - welfare reform.
One of the most important changes of the Clinton-era reform law was replacing the individual entitlement to welfare with a block grant to the states. In the old system, the more people a state signed up for welfare, the more money it got from Washington. The block grant broke this link, creating an incentive for states to help people become self-supporting.
But, as The Post's Charles Hurt has reported, slipped into the stimulus bill is a provision establishing a new $3 billion emergency fund to help states pay for added welfare recipients, with the federal government footing 80 percent of the cost for the new "clients."
Plus, the bill would reward states for increasing caseloads, even if the growth came because the state had loosened its requirements for recipients to work.
This is radical change. States that succeed in getting people off welfare would lose the opportunity for increased federal funding. And states that make it easier to stay on welfare (by, say, raising the time limit from two years to five) would get rewarded with more taxpayer cash. The bill would even let states with rising welfare rolls still collect their "case-load reduction" bonuses.
In short, the measure will erode all the barriers to long-term welfare dependency that were at the heart of the 1996 reform.
Much of the "stimulus" bill is devoted to a backdoor undoing of one of Washington's greatest achievements of recent years - welfare reform.
One of the most important changes of the Clinton-era reform law was replacing the individual entitlement to welfare with a block grant to the states. In the old system, the more people a state signed up for welfare, the more money it got from Washington. The block grant broke this link, creating an incentive for states to help people become self-supporting.
But, as The Post's Charles Hurt has reported, slipped into the stimulus bill is a provision establishing a new $3 billion emergency fund to help states pay for added welfare recipients, with the federal government footing 80 percent of the cost for the new "clients."
Plus, the bill would reward states for increasing caseloads, even if the growth came because the state had loosened its requirements for recipients to work.
This is radical change. States that succeed in getting people off welfare would lose the opportunity for increased federal funding. And states that make it easier to stay on welfare (by, say, raising the time limit from two years to five) would get rewarded with more taxpayer cash. The bill would even let states with rising welfare rolls still collect their "case-load reduction" bonuses.
In short, the measure will erode all the barriers to long-term welfare dependency that were at the heart of the 1996 reform.
Tuesday, December 22, 2009
Study: Schools Face Shortfalls After Stimulus Ends
http://newsmax.com/US/US-School-Funding/2009/12/22/id/344281
Using federal stimulus money to avoid layoffs at schools is going to create a shortfall even more difficult for states and schools to contend with when that money runs out, according to a first-of-its-kind study released Monday.
In July, the GAO cautioned that many states facing deep deficits were using stimulus dollars to fill budget holes and avoid layoffs, rather than reforms that could mean longer-term savings or programs such as building new schools.
When one saves a job, it doesn't mean one saves it indefinitely," she said.
The Congressional Budget Office has noted the difficulty of measuring the number of jobs saved by the stimulus. "It is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package," a CBO report said last month.
Using federal stimulus money to avoid layoffs at schools is going to create a shortfall even more difficult for states and schools to contend with when that money runs out, according to a first-of-its-kind study released Monday.
In July, the GAO cautioned that many states facing deep deficits were using stimulus dollars to fill budget holes and avoid layoffs, rather than reforms that could mean longer-term savings or programs such as building new schools.
When one saves a job, it doesn't mean one saves it indefinitely," she said.
The Congressional Budget Office has noted the difficulty of measuring the number of jobs saved by the stimulus. "It is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package," a CBO report said last month.
Friday, December 11, 2009
The On-Again, Off-Again Depression
http://dailyreckoning.com/the-on-again-off-again-depression/
By Bill Bonner
The US stock market is still in “bounce mode.” All bounces come to an unhappy end. This will be no exception.
If you step back a bit further, you could see it in a different light. Ten years ago, The Daily Reckoning warned of a long, Japan-like slump. Then, the stock market fell and the economy went into a recession. But the downturn didn’t last long. And in the bubbly years that followed, our alert was quickly forgotten – especially by us! But now, 10 years have gone by. The S&P 500 has lost 20% of its value during that period. Wages and income are static. And there is not one single more job in America than there was then. It was a “Lost Decade” for the American economy.
So get ready…
How about a depression that lasts for 20 years? It could be on its way.
In December, exactly 20 years ago, Japan’s stocks closed at an epic high – 38,957 for the Nikkei 25 index. Last week, that same index closed at 9,977.
Readers will quickly note that the Japanese are idiots. Why else would they allow a 20-year bear market? Why else would they permit their economy to slide sideways for nearly an entire generation?
Where is the Japanese Bernanke?
This is almost the same question we posed readers 10 years go. Except then, we asked: Where is the Japanese Greenspan?
Greenspan…Bernanke…it didn’t seem to make any difference. American central bankers seemed to have magical powers, at least compared to their Japanese counterparts. They seemed able to succeed where the Japanese failed…
American economists mocked the Japanese 10 years ago. But what goes around, comes around…
Japanese and American economists go to the same schools. They have the same silly ideas. They are equally incompetent, as near as we can see. And yet, the Japanese have suffered one ‘lost decade’…and then another…while Americans went from bubble to bubble….
But, maybe our first idea was right after all. After we warned that the country could follow on Japan’s heels…entering a long, soft, slow depression…the Greenspan Fed and the Bush federal government opened up with all cannons. They blasted away on both fiscal and monetary fronts…ending up with the biggest barrage of stimulus the world had ever seen.
And what happened? They inflated another bubble…bigger and more dangerous than any before it.
Now, that bubble too has blown up. And now we look around. Once again, the Bernanke/Obama team is firing every gun; just as the Greenspan/Bush team did in the early 2000s…only more of them. But this time, the volleys are not having the same effect. Even though asset markets are bubbling up as hoped, the depression won’t go away. Unemployment is over 10% and still increasing. This is not another “jobless recovery” like the one in 2002-2003. This is no recovery at all.
Then, we look back at the last 10 years. What do we see? Instead of making economic progress, we see a nation making economic mistakes. And, under the leadership of the Obama/Bernanke/Geithner team…they’re still making mistakes. The same mistakes. Only bigger ones. And so we have to wonder…
Maybe the next decade will be ‘lost’ too. Stocks have gone nowhere for the last 10 years, but they are still expensive. On average, they sell for 50% more than the long-term average P/E. Usually, when they are this high, the next generation produces piddly gains. Could it be that, 10 years from now, we will look back without having added a single dollar of net return? Yes…it is quite possible. Likely even. That will mean a total of 20 years with no profit for stock market investors.
Which would serve them right. You’ll recall, perhaps, that at the end of the ’90s it was widely advertised that the surest, simplest road to riches was the stock market. The Dow was supposed to go to 36,000, according to one well-publicized forecast. All you had to do was ‘buy and hold.’ You’d get rich for sure.
Of course, it doesn’t work that way. As soon as investors all come to think the same thing the only sure thing is that what they all think is balderdash.
Well…then…what do they think now?
As near as we can see they believe two contradictory things. On the one hand, everyone says the dollar is doomed. On the other hand, they all seem to want dollar-denominated US Treasury bonds.
But actions speak louder than words. They may talk about the end of the dollar; but that is what they still own. And that is what they’re still buying – via US Treasuries. So…we want to be short US Treasuries for the next 10 to 20 years.
But wait. Isn’t it too soon? Ah, there’s the rub. Treasuries seem to be approaching a major peak. Maybe they are there already. Maybe they aren’t.
“What bothers me is that we still haven’t had that other major leg down in the stock market,” we told colleagues Issy Bacher and Dan Denning today. “It’s not natural for a bear to take a chunk out of asset prices…and then just go away. Typically, the assets bounce back…and then the bear takes another chunk out of them.
“Since we haven’t had that next leg down…we have to assume it’s still ahead. But investors seem totally unprepared for it. When it comes, they’re going to panic. They’re going to sell shares all over the world. And they’re going to seek safety…where? They’re probably going to turn to US Treasury bonds. Treasuries will go up, not down…
“Now the funny thing is that moving to Treasury bonds will help the US government finance its deficits…and possibly stretch out the depression for years. As long as the dollar is in jeopardy, the feds are in danger. They might not be able to finance their deficits. Which means, foreigners…and investors generally…could walk away from the dollar at any time. That would cause a major crisis. If the feds couldn’t finance the deficit with borrowed money…they’d be forced to print it…causing hyperinflation.
“As long as they can finance it, on the other hand…we could face a long depression.
“That’s the risk that no one is paying attention to…and no one is prepared for. That’s why it seems like the most likely outcome. A long, slow, on-again, off-again depression…just like we forecast 10 years ago.”
By Bill Bonner
The US stock market is still in “bounce mode.” All bounces come to an unhappy end. This will be no exception.
If you step back a bit further, you could see it in a different light. Ten years ago, The Daily Reckoning warned of a long, Japan-like slump. Then, the stock market fell and the economy went into a recession. But the downturn didn’t last long. And in the bubbly years that followed, our alert was quickly forgotten – especially by us! But now, 10 years have gone by. The S&P 500 has lost 20% of its value during that period. Wages and income are static. And there is not one single more job in America than there was then. It was a “Lost Decade” for the American economy.
So get ready…
How about a depression that lasts for 20 years? It could be on its way.
In December, exactly 20 years ago, Japan’s stocks closed at an epic high – 38,957 for the Nikkei 25 index. Last week, that same index closed at 9,977.
Readers will quickly note that the Japanese are idiots. Why else would they allow a 20-year bear market? Why else would they permit their economy to slide sideways for nearly an entire generation?
Where is the Japanese Bernanke?
This is almost the same question we posed readers 10 years go. Except then, we asked: Where is the Japanese Greenspan?
Greenspan…Bernanke…it didn’t seem to make any difference. American central bankers seemed to have magical powers, at least compared to their Japanese counterparts. They seemed able to succeed where the Japanese failed…
American economists mocked the Japanese 10 years ago. But what goes around, comes around…
Japanese and American economists go to the same schools. They have the same silly ideas. They are equally incompetent, as near as we can see. And yet, the Japanese have suffered one ‘lost decade’…and then another…while Americans went from bubble to bubble….
But, maybe our first idea was right after all. After we warned that the country could follow on Japan’s heels…entering a long, soft, slow depression…the Greenspan Fed and the Bush federal government opened up with all cannons. They blasted away on both fiscal and monetary fronts…ending up with the biggest barrage of stimulus the world had ever seen.
And what happened? They inflated another bubble…bigger and more dangerous than any before it.
Now, that bubble too has blown up. And now we look around. Once again, the Bernanke/Obama team is firing every gun; just as the Greenspan/Bush team did in the early 2000s…only more of them. But this time, the volleys are not having the same effect. Even though asset markets are bubbling up as hoped, the depression won’t go away. Unemployment is over 10% and still increasing. This is not another “jobless recovery” like the one in 2002-2003. This is no recovery at all.
Then, we look back at the last 10 years. What do we see? Instead of making economic progress, we see a nation making economic mistakes. And, under the leadership of the Obama/Bernanke/Geithner team…they’re still making mistakes. The same mistakes. Only bigger ones. And so we have to wonder…
Maybe the next decade will be ‘lost’ too. Stocks have gone nowhere for the last 10 years, but they are still expensive. On average, they sell for 50% more than the long-term average P/E. Usually, when they are this high, the next generation produces piddly gains. Could it be that, 10 years from now, we will look back without having added a single dollar of net return? Yes…it is quite possible. Likely even. That will mean a total of 20 years with no profit for stock market investors.
Which would serve them right. You’ll recall, perhaps, that at the end of the ’90s it was widely advertised that the surest, simplest road to riches was the stock market. The Dow was supposed to go to 36,000, according to one well-publicized forecast. All you had to do was ‘buy and hold.’ You’d get rich for sure.
Of course, it doesn’t work that way. As soon as investors all come to think the same thing the only sure thing is that what they all think is balderdash.
Well…then…what do they think now?
As near as we can see they believe two contradictory things. On the one hand, everyone says the dollar is doomed. On the other hand, they all seem to want dollar-denominated US Treasury bonds.
But actions speak louder than words. They may talk about the end of the dollar; but that is what they still own. And that is what they’re still buying – via US Treasuries. So…we want to be short US Treasuries for the next 10 to 20 years.
But wait. Isn’t it too soon? Ah, there’s the rub. Treasuries seem to be approaching a major peak. Maybe they are there already. Maybe they aren’t.
“What bothers me is that we still haven’t had that other major leg down in the stock market,” we told colleagues Issy Bacher and Dan Denning today. “It’s not natural for a bear to take a chunk out of asset prices…and then just go away. Typically, the assets bounce back…and then the bear takes another chunk out of them.
“Since we haven’t had that next leg down…we have to assume it’s still ahead. But investors seem totally unprepared for it. When it comes, they’re going to panic. They’re going to sell shares all over the world. And they’re going to seek safety…where? They’re probably going to turn to US Treasury bonds. Treasuries will go up, not down…
“Now the funny thing is that moving to Treasury bonds will help the US government finance its deficits…and possibly stretch out the depression for years. As long as the dollar is in jeopardy, the feds are in danger. They might not be able to finance their deficits. Which means, foreigners…and investors generally…could walk away from the dollar at any time. That would cause a major crisis. If the feds couldn’t finance the deficit with borrowed money…they’d be forced to print it…causing hyperinflation.
“As long as they can finance it, on the other hand…we could face a long depression.
“That’s the risk that no one is paying attention to…and no one is prepared for. That’s why it seems like the most likely outcome. A long, slow, on-again, off-again depression…just like we forecast 10 years ago.”
Tuesday, December 8, 2009
$246,436 Per Stimulus Job
http://blogs.reuters.com/james-pethokoukis/2009/12/07/cost-benefit-analysis-of-jobs-stimulus/
The Obama Administration is touting that their stimulus program has saved or created 640,329 jobs since it was enacted back in February through the end of October. This number is updated and posted on the Administration’s recovery.gov web site. That amounts to $246,436 per job based on the $157.8bn that has been awarded so far! Total compensation earned by the average payroll employee during October, on an annualized basis, was $59,867.
If the government had simply used the funds awarded so far to pay for a year’s worth of labor, that would have paid for 2.6mn jobs!
The Obama Administration is touting that their stimulus program has saved or created 640,329 jobs since it was enacted back in February through the end of October. This number is updated and posted on the Administration’s recovery.gov web site. That amounts to $246,436 per job based on the $157.8bn that has been awarded so far! Total compensation earned by the average payroll employee during October, on an annualized basis, was $59,867.
If the government had simply used the funds awarded so far to pay for a year’s worth of labor, that would have paid for 2.6mn jobs!
Tuesday, December 1, 2009
Map of Bogus Jobs Created by Stimulus
http://maps.google.com/maps/ms?hl=en&ie=UTF8&msa=0&msid=107704220287495603222.0004782e6659ad532d4ee&ll=39.639538,-97.119141&spn=23.633433,57.128906&t=p&z=4&source=embed
The Washington Examiner has created this interactive map to document exaggerated job claims of the $787 billion stimulus.
11/19 update: The total number of jobs we have found to be "not really created or saved" now approaches 80,000. Several new states and the Territory of Guam have new entries. We will continue updating the map in the coming weeks.
The Washington Examiner has created this interactive map to document exaggerated job claims of the $787 billion stimulus.
11/19 update: The total number of jobs we have found to be "not really created or saved" now approaches 80,000. Several new states and the Territory of Guam have new entries. We will continue updating the map in the coming weeks.
Tuesday, November 17, 2009
Jobs 'Saved or Created' in Congressional Districts That Don't Exist
http://abcnews.go.com/Politics/jobs-saved-created-congressional-districts-exist/story?id=9097853
ABC News was able to locate several examples on the government's Web site outlining hundreds of millions of dollars spent and jobs created in Congressional districts that have been misidentified.
Recovery.gov says $34 million in stimulus money has been spent in Arizona's 86th congressional district in a project for the Navajo Housing authority, which is actually located in the 1st congressional district.
In Oklahoma, recovery.gov lists more than $19 million in spending -- and 15 jobs created -- in yet more congressional districts that don't exist.
In Iowa, it shows $10.6 million spent – and 39 jobs created -- in nonexistent districts.
In Connecticut's 42nd district (which also does not exist), the Web site claims 25 jobs created with zero stimulus dollars.
ABC News was able to locate several examples on the government's Web site outlining hundreds of millions of dollars spent and jobs created in Congressional districts that have been misidentified.
Recovery.gov says $34 million in stimulus money has been spent in Arizona's 86th congressional district in a project for the Navajo Housing authority, which is actually located in the 1st congressional district.
In Oklahoma, recovery.gov lists more than $19 million in spending -- and 15 jobs created -- in yet more congressional districts that don't exist.
In Iowa, it shows $10.6 million spent – and 39 jobs created -- in nonexistent districts.
In Connecticut's 42nd district (which also does not exist), the Web site claims 25 jobs created with zero stimulus dollars.
Monday, November 16, 2009
Obama Admin Slashed 60,000 Jobs From Recent Stimulus Report
http://abcnews.go.com/Business/abc-news-exclusive-obama-administration-slashed-60000-jobs/story?id=9095621
The Obama administration, under fire for inflating job growth from the $787 billion stimulus plan, slashed over 60,000 jobs from its most recent report on the program because the reporting outlets had submitted "unrealistic data," according to a document obtained by ABC News.
Opps.
The Obama administration, under fire for inflating job growth from the $787 billion stimulus plan, slashed over 60,000 jobs from its most recent report on the program because the reporting outlets had submitted "unrealistic data," according to a document obtained by ABC News.
Opps.
Friday, November 6, 2009
Many California Jobs "Saved' by Stimulus Funds Weren't in Jeopardy
http://www.sacbee.com/topstories/story/2309303.html
Up to one-fourth of the 110,000 jobs reported as saved by federal stimulus money in California probably never were in danger.
Up to one-fourth of the 110,000 jobs reported as saved by federal stimulus money in California probably never were in danger.
Tuesday, November 3, 2009
After Flurry of Stimulus Spending, Questionable Projects Pile Up...
http://www.washingtonexaminer.com/politics/After-a-flurry-of-stimulus-spending_-questionable-projects-pile-up-8474249-68709732.html
$300,000 for a GPS-equipped helicopter to hunt for radioactive rabbit droppings at the Hanford nuclear reservation in Washington state.
HA!
$300,000 for a GPS-equipped helicopter to hunt for radioactive rabbit droppings at the Hanford nuclear reservation in Washington state.
HA!
Wednesday, October 21, 2009
7 Months After Stimulus 49 of 50 States Have Lost Jobs
http://www.republicans.waysandmeans.house.gov/News/DocumentSingle.aspx?DocumentID=150826
According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs.
They were only off by 6.2 million jobs...bahhh, what's 6.2 million jobs? I'm just glad the government finally used my hard earned tax dollars to do something successful...oh wait...
And we trust our government to provide healthcare for all Americans!?
According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs.They were only off by 6.2 million jobs...bahhh, what's 6.2 million jobs? I'm just glad the government finally used my hard earned tax dollars to do something successful...oh wait...
And we trust our government to provide healthcare for all Americans!?
Tuesday, October 20, 2009
35,000 in Detroit Line up for Obama's Money
http://vocalminority.typepad.com/blog/2009/10/why-i-left-liberalism-19-they-create-americas-problems-1000s-in-detroit-line-up-for-obama-money-1.html
"I don't know where he got it found, but he giving it to us."
You got it from me you ignorant fool! Someone who has a job and pride enough to earn a living off of my own blood, sweat, and tears rather than someone elses! Where is your pride? Where is your dignity? What has happened to our country? !
Monday, September 28, 2009
Job Numbers not Improving
http://www.powerlineblog.com/archives/2009/09/024602.php
The unemployment rate for young Americans has exploded to 52.2 percent -- a post-World War II high, according to the Labor Dept. -- meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time. ...
During previous recessions, in the early '80s, early '90s and after Sept. 11, 2001, unemployment among 16-to-24 year olds never went above 50 percent. Except after 9/11, jobs growth followed within two years.
A much slower recovery is forecast today. [Heidi Shierholz, an economist with the Washington-based Economic Policy Institute] believes it could take four or five years to ramp up jobs again.
*****
"There is no assistance provided [in the Democrats' stimulus bill] for the development of job growth through small businesses, which create 70 percent of the jobs in the country," Angrisani said in an interview last week. "All those [unemployed young people] should be getting hired by small businesses."
There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people, the former Labor official said.
"If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession," Angrisani noted. ..."
The unemployment rate for young Americans has exploded to 52.2 percent -- a post-World War II high, according to the Labor Dept. -- meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time. ...
During previous recessions, in the early '80s, early '90s and after Sept. 11, 2001, unemployment among 16-to-24 year olds never went above 50 percent. Except after 9/11, jobs growth followed within two years.
A much slower recovery is forecast today. [Heidi Shierholz, an economist with the Washington-based Economic Policy Institute] believes it could take four or five years to ramp up jobs again.
*****
"There is no assistance provided [in the Democrats' stimulus bill] for the development of job growth through small businesses, which create 70 percent of the jobs in the country," Angrisani said in an interview last week. "All those [unemployed young people] should be getting hired by small businesses."
There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people, the former Labor official said.
"If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession," Angrisani noted. ..."
Tuesday, September 1, 2009
Dealers Still Waiting For Clunker Cash
http://www.keloland.com/NewsDetail6162.cfm?Id=89419
During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry.
Billion Automotive cashed in during Cash for Clunkers, but owner Dave Billion is still waiting for the rest of his money from the government run program, $3.2 million.
"I wonder how long they'd wait if I owed them $3.2 million. I think they'd be at my door or at least my banker's door," Billion said.
"We had a situation where we had a submission, they rejected it for multiple reasons. We didn't see anything wrong with it, so we resubmitted it. They rejected, we resubmitted it. They rejected it, seven times and finally they paid it, and we never changed a single thing on it," Billion said.
During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry.
Billion Automotive cashed in during Cash for Clunkers, but owner Dave Billion is still waiting for the rest of his money from the government run program, $3.2 million.
"I wonder how long they'd wait if I owed them $3.2 million. I think they'd be at my door or at least my banker's door," Billion said.
"We had a situation where we had a submission, they rejected it for multiple reasons. We didn't see anything wrong with it, so we resubmitted it. They rejected, we resubmitted it. They rejected it, seven times and finally they paid it, and we never changed a single thing on it," Billion said.
Friday, August 28, 2009
Surprise: Cash for Clunkers Rebate Taxable!
http://www.keloland.com/NewsDetail6162.cfm?Id=0,89084
But many of those cashing in on the clunkers program are surprised when they get to the treasurer's office windows. That's because the government's rebate of up to $4500 dollars for every clunker is taxable.
"They didn't realize that would be taxable. A lot of people don't realize that. So they're not happy and kind of surprised when they find that out," Nelson said.
So the government taxes the people's money, gives it back to some of the people, then taxes it again. What is wrong with this picture? Why not give the dealers $4000 and $3000 and say it's tax free?
But many of those cashing in on the clunkers program are surprised when they get to the treasurer's office windows. That's because the government's rebate of up to $4500 dollars for every clunker is taxable.
"They didn't realize that would be taxable. A lot of people don't realize that. So they're not happy and kind of surprised when they find that out," Nelson said.
So the government taxes the people's money, gives it back to some of the people, then taxes it again. What is wrong with this picture? Why not give the dealers $4000 and $3000 and say it's tax free?
Wednesday, August 26, 2009
Stimulus Money Sent to 4,000 Cons
http://www.bostonherald.com/news/regional/view/20090826feds_stimulus_money_sent_to_4000_cons_herald_report_spurs_probe/srvc=home&position=also
One day after the Herald reported some surprised Bay State inmates - including murderers and rapists - were cashing in $250 stimulus checks, federal officials revealed the same behind-bars bonus was mailed to nearly 4,000 cons nationwide.
The Inspector General of Social Security is now tracing the checks that were mailed to 3,900 prisoners at a cost of nearly $1 million after yesterday’s report in the Herald.
And we trust these people to run our healthcare?
One day after the Herald reported some surprised Bay State inmates - including murderers and rapists - were cashing in $250 stimulus checks, federal officials revealed the same behind-bars bonus was mailed to nearly 4,000 cons nationwide.
The Inspector General of Social Security is now tracing the checks that were mailed to 3,900 prisoners at a cost of nearly $1 million after yesterday’s report in the Herald.
And we trust these people to run our healthcare?
Thursday, August 20, 2009
Nashua, NH Ranks No. 4 When it Comes to Federal Stimulus Cash
http://www.nashuatelegraph.com/apps/pbcs.dll/article?AID=/20090820/NEWS02/308209958
The report also revealed that through the end of June that stimulus money created or saved 796 jobs, with 700 of those state workers who did not have to get laid off thanks to the federal grants, Fitch said.
What's going to happen to these jobs when the money stops coming? These aren't sustainable jobs. The government has put on another bandaid and called it a day. Only the free market can create sustainable jobs that don't come at the expense of you and I.
The report also revealed that through the end of June that stimulus money created or saved 796 jobs, with 700 of those state workers who did not have to get laid off thanks to the federal grants, Fitch said.
What's going to happen to these jobs when the money stops coming? These aren't sustainable jobs. The government has put on another bandaid and called it a day. Only the free market can create sustainable jobs that don't come at the expense of you and I.
Sunday, August 9, 2009
The Stimulus is Working?
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0StZd9y2rCY
President Barack Obama said his $787 billion stimulus bill “has worked as intended” as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.
Really?
Wednesday, July 29, 2009
Stimulus Jobs In Oregon -- Last Only One Week
http://www.google.com/hostednews/ap/article/ALeqM5ifn5cIQggxKMBZdAwWc0ej79EQLgD99NA4VO3
"In Oregon, where lawmakers are spending $176 million to supplement the federal stimulus, Democrats are taking credit for a remarkable feat: creating 3,236 new jobs in the program's first three months. But those jobs lasted on average only 35 hours, or about one work week. After that, those workers were effectively back unemployed."
Is this any surprise? Stimulus jobs are artificially created outside of the free market and thus have less sustainability than a job legitimately created as necessity by the free market.
"In Oregon, where lawmakers are spending $176 million to supplement the federal stimulus, Democrats are taking credit for a remarkable feat: creating 3,236 new jobs in the program's first three months. But those jobs lasted on average only 35 hours, or about one work week. After that, those workers were effectively back unemployed."
Is this any surprise? Stimulus jobs are artificially created outside of the free market and thus have less sustainability than a job legitimately created as necessity by the free market.
Obama still cashing in on Bush's failings
http://www.washingtontimes.com/news/2009/jul/29/obama-still-cashing-in-on-bushs-economic-failings/print/
"For a guy who campaigned on taking responsibility and looking forward, he spends an awful lot of time pointing fingers and looking backward."
"Since taking office, Mr. Obama has implemented a $787 billion stimulus package that has failed to produce a quick economic turnaround and the U.S. economy has shed more than 2.5 million jobs."
"For a guy who campaigned on taking responsibility and looking forward, he spends an awful lot of time pointing fingers and looking backward."
"Since taking office, Mr. Obama has implemented a $787 billion stimulus package that has failed to produce a quick economic turnaround and the U.S. economy has shed more than 2.5 million jobs."
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