Early Reports: Stimulus Saved, Created 388,000 Jobs

USA Today:

States have reported using stimulus money to create or save more than 388,000 jobs so far this year, buttressing the Obama administration's claim that the $787 billion plan has had a significant impact on the economy.

Read the whole story: USA Today

Comments

[Overtone]

HOW TO REALLY GENERATE MILLIONS OF NEW JOBS!

The 1977 job tax credit program included a few of the incentives in a so far ignored Human In-vestment Tax Credit (HITC) program aimed at generating up to 6 million jobs and launching perhaps 4 million entrepreneurs. The 1977 program proved it can work. That stripped down ver-sion generated 900,000 jobs - 20% of the jobs created that year!

Download the 2009 version free at: http://www.aesopinstitute.org

Congress should fine-tune and pass the 2009 HITC program without delay!

Another path to millions of jobs is described in the article: 5 Steps to Revive the Auto Industry and the Economy - on the same website.

It outlines revolutionary new technology that opens paths to cars that need no fossil fuel or re-charge. Advanced versions can later turn parked cars into power plants, able to sell power to the local utility.

The technology is not in the textbooks and will be greeted with extreme skepticism and disbelief.

However, independent laboratory validation of one remarkable breakthrough has taken place at Rowan University. It produced far more heat than can readily be explained by existing science, clearly suggesting a new source of energy is involved. The experiments need repeating at other laboratories.

The Rowan validation began the process of proving that new technology can allow a barrel of water to replace 200 barrels of oil!

It can change what is currently believed about energy and help to accelerate real economic revival.

[nextuser]

same old same old. stock market surging. more job loss. no heath care reform. no extension of unemployment benefits. more old cr4p.

good articles; http://financeopinionss.blogspot.com

no point in voting

[JavaManiac]

I would like to see what businesses they loaned money to for jobs - who have they talked to and what plans will come to fruition.

This paltry number 388K jobs does not get it from me!

Now, I know they have helped families cobra insurance with that money and I am sure some has gone to cover the unbelievable unemployment benefits that are being paid out - but where is all this documented???

I want to go online and do my own audit of how this money has been spent!

[JavaManiac]

For 500 billion we could have given 5 Million people 100,000 dollars to cover 1 year, or 50,000 each for 2 years - and still had 500 billion left over for road building and cash for clunkers.

388,000 jobs does not seem like enough.

[olephart]

$65 billion was given out as the payroll tax cut @ $400 feach or about 120 million people (bottom 90%). $75 billion was given to about 10 million people as the AMT patch (top 85 - 95%). The Bush tax cuts remained in place giving $250 billion to 6 million people (top 5%). So as you can see the less you need it the more you get.

[loki]

As much as I really want to believe this, I still try to at least occasionally use some logic and not just faith or assumptions.
Id like to know just how they determined these numbers? How do they know how many jobs were saved or actually created due to the stimulus? I would love to see the hard data on this and not just take someones word on it. I have a sneaky suspicion this is their most "educated guess" at what they think they could realistically get the public to believe the claims of. I just cant see any mathematical, scientific or even a qausi statistical manner to get the numbers on all of this. I can see jobs created by the stimulus if they keep track of how is hired for the jobs and contracts of the jobs that have actually started , which are funded totally by the stimulus. But employees retained because of it? I thinks this comes under Guesstimation. Which is worth less than the computer the report was written on.

[Watain]

Ob proapganda!

[loki]

and how would it differ from any other presidents propaganda? they all do it.
You have to admit though, this propaganda is to lift the countries spirits and does no harm.
What did Bush's propaganda do? Put people in a lot of fear so they agreed to lose freedoms many rights under the constitution, and cost us 100s of billions, create more enemies world wide, and the invasion of a country that at the time had no wmds or anything to do with Al Qaeda of the world trade center bombing.
I prefer OB propaganda , thank you..

[Emerald1943]

I don't know how many jobs were saved in my state (NC) but I do know that road construction projects that had been sitting idle for months were again re-started and completed. There is bridge repair being done now with the stimulus money. And that money goes into our local economy as people get paid for doing the work. I see things looking up....not much, but at least there is slight improvement!

[jordan327]

I'm guessing it's 387,994 saved and 6 created.

[iridium53]

380,000 jobs. In eight months. That's great. Better than a sharp stick in the eye.

What is that, almost 80% of the half million that are lost EACH and every month?

Plus, the millions of jobs lost before Obama became President.

Perhaps Obama, Summers and Congress should consider increasing the effort? A lot?

[Winston120]

How of those jobs were civil servants? We need jobs that do a better job of generating wealth based on the global economy. Is the new economy we teach each other, put out fires, and cook hamburgers for each other?

[TexasPatriotess]

What is wrong with putting out fires? And flipping burgers? At least they have a job. Some income is better than no income.

At least they aren't living off the government!

[Imago]

"The states' reports suggest the biggest impact has been at schools. Twenty-three states that have reported school job numbers said more than 156,000 jobs had been created or saved."

[TexasPatriotess]

FYI I have interviewed for the jobs "created" by the stimulus money. They are still considered temporary. The school will fill them, then have to prove their worth to keep the position open for more than one or two years.

They are still not permanent openings.

[JavaManiac]

I agree the problem with government or school jobs is that are created is that long-term they require more tax dollars to keep them.

This is a catch 22.

We need to be building jobs in the private sector in areas we are short in or that can self-fund after a short time. What are those jobs and where are they.

And short-term roads projects do not deliver long-term jobs.

[karen1p]

Holy cr.ap! I was laid off in February....along with 675,000 people. Do you mean that the stimulus spending kept almost HALF A MONTH of people employed??? Good work! That is simply amazing!

[Joseph Joyal]

No matter how many jobs they claimed were save the bottom line is more are lost in that same time period and the governments lack of action is responsable.
Jobs are running to Mexico every day but no effort to end NAFTA
Jobs are sent to India and China and the companies are still getting tax breaks to do this.
What happened to Buy American in the stimulus? Department of Defense is spending millions on imported products that should be made here.
Made In The USA is a matter of National Security.
Government bodies all over this country buy foreign cars, trucks, motorcycles .....
Demand they close the loop holes and tax breaks keep and create jobs in the USA

[PoliticiansRspineless]

Without new job creation unemployment will continue to grow or level off at 10+ % for quite a few years. The unfortunate realization is that the lower and middle income areas will continue to see job losses due to lack of job skills and manufacturing losses. We have reached the judgement day that most economic academics have said in private or their class rooms. Poor vs rich or uneducated vs educated.

[Icantbelieveher]

What they don't realize is that they can give the corporations tax cut after tax cut, but it won't create one job. If the American people aren't working they have no income to buy what the corporations are selling!

When the average wage of 95% of Americans stagnated, it ate up all of the disposable income in the economy. The answer from big banks was give people credit to buy it. When things got tight and people started losing their jobs, banks raised the credit card interest rates and stopped loaning to small businesses, who then went out of business!

And republicans want to blame it all on homeowners who couldn't afford their homes, even though banks wouldn't work with the homeowners!

[mollyjackson]

388,000 jobs !!!!!! ............Now I know Joe Wilson was right.

[Icantbelieveher]

Here are 300 new jobs that will be created in the near future here in Colorado, with many more to follow! These are permanent jobs and they are completely attributable to the stimulus!

http://www.colorado.gov/cs/Satellite/GovRitter/GOVR/1251567786094

[Peter007]

I see. A private company worth millions is getting tax breaks and will partner up with city and state governments. That means the tax payers of Colorado will subsidies the income of this company and its executives. . What do they get in return? Promises?