http://answers.yahoo.com/question/index ... 618AAxRRAD
XtremeJibber2001 wrote:To be fair, our 401ks aren't growing again. Really, they're just getting started from where they were near the end of GWB's second term. I don't fault either of them for the economic mess - although Obama's promises about unemployment rates if the stimulus passed were somewhat empty.
Can you cite your references where Obama made these promises?
Apparently his team members said it, not Obama personally.
No, apparently only the Republicans said it, in particular Eric Cantor
Eric Cantor wrote:"Three years ago, President Obama’s first action in office was to push through a massive $825 billion stimulus package based on the promise of keeping unemployment under 8 percent."
The whole thing is yet another Republican, um, misrepresentation who predictably never let the facts get in the way. Obama never promised 8% unemployment and never used the 8% figure. In fact, he only cited the jobs created figure of the preliminary report. And if anyone bothered to actually read the report where projections are made The Job Impact of the American Recovery and Reinvestment Plan.
(PDF), rather than parrot fabricated GOP taking points, you would have seen the following:A key goal enunciated by the President-Elect concerning the American Recovery and Reinvestment Plan is that it should save or create at least 3 million jobs by the end of 2010. For this reason, we have undertaken a preliminary analysis of the jobs effects of some of the prototypical recovery packages being discussed. Our analysis will surely evolve as we and other economists work further on this topic. The results will also change as the actual package parameters are determined in cooperation with the Congress. Nevertheless, this report suggests a methodology for ensuring that the package contains enough stimulus that we can have confidence that it will create sufficient jobs to meet the President-Elect’s goals.
In terms of the jobs created: PolitiFactThe report’s projection that the stimulus would save between 3 million and 4 million jobs also appears now to be optimistic. The president’s Council of Economic Advisers, in an analysis released in December, estimated that between 2.2 million and 4.2 million jobs were created or saved by the stimulus through the second quarter of 2011.
The council’s report cited independent studies by the Congressional Budget Office and three private economic analysis companies. Here’s what the groups found:
• CBO: Between 500,000 and 2.9 million jobs saved or created.
• IHS/Global Insight: 2.4 million jobs saved or created.
• Macroeconomic Advisers: 2.6 million jobs saved or created.
• Moody’s Economy.com: 2.1 million jobs saved or created.
So if it makes anyone feel better, I suppose they can bitch the preliminary report suggested that between 3M and 4M jobs would be saved or created, but so far the stimulus saved or created between 2M and 3M jobs.