Economics for Idiots

Vice President Joe Biden said yesterday on CNN that nobody can say “that the stimulus did not create jobs,” but he did not specify how many jobs he believes President Barack Obama’s stimulus created and how much each of those jobs cost.

According to the most recent report on the stimulus by the Congressional Budget Office, the law had created a maximum of 2 million jobs as the fourth quarter of 2011 at a cost of $412,500 per job.

It took them nearly 3 years to figure this out. I guess the government is great at creating jobs and predicting economics. 🙂

On CNN’s “State of the Union” on Sunday, host Candy Crowley asked Biden about the skepticism of those who point out “we did almost $1 trillion ins stimulus spending” and the administration said “unemployment won’t gove above 8 percent,” and yet we have not had the results the administration forecast. (Solyndra and Fisker included??)

“The problem was in the beginning, the economists said that in fact we wouldn’t go above 8 percent, because they didn’t know until this last quarter that the economy shrunk in the last term of the Bush administration almost 9 percent,” said Biden.

Yep, their bad economic forecasts and their even worse “solutions” are Bush’s fault, not the “economists” that said we had to pass the Stimulus or else (and that whole 8% thing that was pure guessing)

 “Everybody thought it was more like 5.5 percent.

And you know what they say about assuming. It makes an ass out of u and me. But we get stuck with check for their guessing. But it’s still Bush’s fault for their guessing being wrong.

And so the point was, we were all operating off of what the blue chips were looking at, and the numbers were wrong. But the fact is, if we hadn’t had that stimulus, we would be in a position now where we would be in a double dip recession some time ago.”

Instead of the recession we’ve had for nearly 3 years now and the “double dip” we already have!! A Trillion dollars of waste and 3 years later!!

And now Obama wants ANOTHER Stimulus!! and if you don’t pass it you’re a just a “rich” loving mean old fart. So he’ll just pass parts of it by executive fiat instead!

If you don’t succeed (or fail spectacularly) fail, fail again!

It shows how well Government does when it inserts itself into the economic to “create” anything other than chaos and misery.

Taking the high-end number of 2 million jobs and dividing it by the $825 billion cost of the stimulus yields a cost of $412,500 per job. (mind you virtually all these jobs are government union employees).

So given that sterling example, it should only take another $2,475,000,000,000 for the other 6 million jobs lost since 2007 but most of these are private sector jobs in the hands of evil greedy corporations. 🙂 (who cares about the $15,000,000,000,000 debt, anti-business regulations and ObamaCare!)

Damn those rich people are going to have pay up Big! 🙂

And government is very good at “creating” jobs”.

At a million-dollar  (no 1%ers there!) San Francisco fundraiser today, President Obama warned his recession-battered supporters that if he loses the 2012 election it could herald a new, painful era of self-reliance in America.

“The one thing that we absolutely know for sure is that if we don’t work even harder than we did in 2008, then we’re going to have a government that tells the American people, ‘you are on your own,’” Obama told a crowd of 200 donors over lunch at the W Hotel.

“If you get sick, you’re on your own. If you can’t afford college, you’re on your own. If you don’t like that some corporation is polluting your air or the air that your child breathes, then you’re on your own,” he said. “That’s not the America I believe in. It’s not the America you believe in.”

Hope and Change! 🙂

Yeah, government controlling everything is what you believe in. After all, government is infinitely better at running your life than you are.

You’re hopeless! So re-elect me or else you’re screwed! You’re incompetent!

“I guarantee it’s going to be a close election [in 2012] because the economy is not where it wants to be (Notice how impersonal that is phrased) and, even though I believe all the choices we’ve made have been the right ones, we’re still going through difficult circumstances,” the president said.

Doh!

Remember, Liberals are never wrong. Ever. And the economy is nowhere near where it wants (was the “it” government, free enterprise, or evil rich corporations??) to be and I and I alone can save you because your hopeless and if you don’t re-elect me the hungry capitalist raptors will eat you!!

Vote for me or Else!

NARCISSISM UPDATE

The State Department has bought more than $70,000 worth of books authored by President Obama, sending out copies as Christmas gratuities and stocking “key libraries” around the world with “Dreams from My Father” more than a decade after its release.

The U.S. Embassy in Egypt , for instance, spent $28,636 in August 2009 for copies of Mr. Obama’s best-selling 1995 memoir. Six weeks earlier, the embassy  had placed another order for the same book for more than $9,000, federal purchasing records show.

That’s taxpayer money paying for book sales for Obama who will get a royalty for it as the author!

About the same time, halfway around the world, the U.S. Embassy in South Korea  had the same idea and spent more than $6,000 for copies of “Dreams from My Father.”

One month later, the U.S. Embassy in Jakarta , Indonesia , spent more than $3,800 for hardcover copies of the Indonesian version of Mr. Obama ’s “The Audacity of Hope,” records show.

A review of the expenditures in a federal database did not reveal any examples of State Department  purchases of books by former Presidents George W. Bush or Bill Clinton.

Michael Moore is an Academy Award Winning Millionaire who went from a low-pay local rag in Flint, Michigan to millionaire but he’s not “rich” (aka ” the 1%”) but when asked about it, he dodges it like any good politician asked a question you know they will never answer honestly.

The inquiry came from Twitter, where one user asked why Moore appeared so disgusted by capitalism despite benefiting greatly from capitalism. “I’m here talking against my own interests– what’s wrong with me?” he joked, but didn’t really answer the question, other than to claim that “for a documentary filmmaker, I do very well.” When Morgan pushed him to explain how “very well” did not translate to elite levels of wealth, he merely said he felt “blessed,” given his high school education level, and claimed that “they made a huge mistake, putting me on TV.”

Moore continued to bash the wealthy, distancing himself from “a system that is unfair to working people” and concluding of the people that funded his first film, “I hope they rue the day.” He did not give any numbers to explain how his lifestyle did not conform with theirs.

He’s capitalism in action. Problem is, he’s an anti-capitalism millionaire capitalist!

After all, he is suing for money from the producers of “Fahrenheit 911”. He claims he was cheated out of at least $2.7 million in profits from his hit documentary.

“discovered substantial irregularities in the accounting” that resulted in a “gross underpayment to [Moore],” the lawsuit says.  

But he’s not a greedy capitalist millionaire!! 🙂

In the NBC appearance, Obama also professed to be paying little attention to the long series of fiery debates among Republican contenders vying for the chance to take him on in next year’s presidential election.

“I’m going to wait until everybody is voted off the island,” he quipped in a reference to the “Survivor” reality show.

“Once they narrow it down to one or two, I’ll start paying attention.”

Oh, the rapier wit…

Meanwhile, I have $38,500 per person fundraiser to attend riding on my Canadian Made Uber Bus passing out class warfare and fear,despair and hopelessness.

“We’ve made great progress,” Obama added, “but we’ve got so much more work to do. Obviously in Washington, the politics that I think people are hoping for is not what they’re getting. It’s still dysfunctional. It’s still perversely partisan.’’

The Democrat said that as if it was someone else’s fault.

But don’t worry, be happy. It could have been worse! 🙂

Political Cartoons by Michael Ramirez

Political Cartoons by Glenn McCoy