Romer Says Jobs Data `Erases' Double-Dip Recession Worry: Video

[feverpitch82]

I actually found out today that each job created by Romer's 787 billion stimulus package cost the US tax payer $429,000 !!!! $429,000 to create one unproductive job!!!!

[Clarissa2424]

@feverpitch82 Fuzzy fuzzy math from a tea-party website? How does one come up with a figure like that?

Look, Like I said, the stimulus was NOT intended to be PRIMARILY a job creator.

Do you remember fall 2008, when, COLLAPSE of the entire economy was eminent and people were taking their money out of their banks?

The stimulus was Mostly to save BIG MONEY BANKS and keep us from Collapse - which it did.

Now - unemployment is ALWAYS the last to recover, so the next thing is stimulate jobs.

[Clarissa2424]

@feverpitch82 When the stimulus was put together - it was to TRY & KEEP our economy from COLLAPSE. it was NOT primarily to CREATE JOBS. IT was to try and save our Banking System, our INDUSTRIES and provide relief for the millions of workers laid off by Banks and industries. And THAT it did.

Like I said and MOST agree - there was WAY TOO MUCH PORK in it, which was needed if Senators would vote for it.

[Clarissa2424]

@feverpitch82 There was $25 for unemployment and $116B + $69B f+ lots more for Tax Cuts, etc.

Why didn't all the tax cuts provide jobs, as the Reps like to promote.

Check it out for yourself I posted the website on your youtube homepage.

projects.nytimes.com/44th_pres­ident/stimulus

AGAIN, NOT ALL the stimulus has been spent yet.

[bradleymxz]

Of course the economy is recovering in the eyes of a government official. I would guess she pulls in about 120,000-160,000/year......Top-­notch benefits, half the year off in some form of vacation, holiday, personal leave, and works about as hard as a college professor teaching women studies. I said it before and I'll say it again....we need to start this re-tooling program by tearing down government at all levels, county, state, and federal.

[bradleymxz]

@bradleymxz Everybody should do a little homework and research what these government officials really make. I nearly snagged an entry-level federal job with the NCUA and it started at about $50,000 year with gold-plated insurance plans and half the year off due to sick/personal leave and any day off that remotely resembles a holiday. I am glad I didn't get this job..... I couldn't commit treason against my fellow countrymen.

[LeeRyan2930]

coming off the 1st recession poorly like the way it did, the only assumption was we weren't actually off the recession. if we and the gov't actually pay attention to the wars the way we did for the whole BP chaos, maybe the wars will be stopped and we will easily get out of this shit hole once and for all.

[RussMusiq]

No wonder we are where we are, this woman is an idiot.

Obama should get out of the way and let Larry Summers do his thing.

[sport142]

Romer is an idiot...go back to California and give them some false hope as they collapse economically.

[gallatin001]

Stupid stupid bitch

[ILovelisanova]

We need her at the SF FED, she's been a great help to my gold and silver positions!!!

[idonotneedanidforyou]

cheerleading session

[yaplonglong]

Why doesn't the ADM come clean and tell people that we are in a deep, deep recession (except Wall Street). We all have to chip in, work harder and brace ourselves for the worse. In stead of this crap rhetorics that - the economy is doing fine, we are good, no fear of a double dip shit. People will have to face the reality sooner or later. This is the time to prepare the people for the worse - lest the final collpase comes as a total shock - What would happen? Gerald Celenti says it many times!

[Clarissa2424]

@yaplonglong You really expect ANY public figure who has inside knowledge of the economy to come out and say, "run for your life - we are headed for a double dip?

Then everyone would panic and we would head down in the the bank run type of 1930's depression faster than you could say "tea party nuts."

All the people that "hoping" for a collapse, for whatever reason - maybe you stored up some gold/silver and have a hut in the mountains stored with food and supplies will probably be disappointed

[Clarissa2424]

@Clarissa2424 In fact, all the "Peter Schiff - Types" ARE, in fact, trying to create a double dip, so that they profit....profit from being 'right' & profit from all their GOLD holdings.

Yeah yeah, i know...They call themselves "speakers of truth" or "I called the 2008 real estate crisis, so I know everything that is ever to happen in the economy from HENCE FORTH" Gurus.

Jeez, I told my brother in 2007 that a recession was in the air - and he did not believe me. Does not make me a guru, at all

[Nymphe14]

We never recovered!

[Clarissa2424]

@Nymphe14 You say, "we never recovered" well, 'never' is a strong word, especially since it has only been 2 years since the "near collapse" of the USA and world economy. We have recovered a lot! Unemployment is ALWAYS the last to recover after a recession.

It is a miracle that the economy did not collapse 2 years ago. The fact that we have ANY GDP right now is a marvelous achievement.

I think Romer wanted a 'BIGGER & TARGETED stimulus - directed at creating jobs. That is the next step.

[feverpitch82]

@Clarissa2424 Wow, after spending several trillion dollars they have managed a whole 1% growth. and thats IF we trust official government numbers. First GDP was 2.9%, then it was 2.4%, then it was 1.6% - its a joke. If you really think another stimulus will help then you have no understanding of economics or the problems that got us into this mess in the first place. Also if the old stimulus was not directed at creating jobs, what was it directed at??

[WingsofDedalus]

@feverpitch82 Shut your mouth, rebel scum. Clarissa is right. They have done a wonderful job in saving the economy. We should spend have an additional 5 trillion dollar stimulus as the messiah Paul Krugman wants.

[Clarissa2424]

@feverpitch82 You miss the entire point, feverpitch! We are lucky to have "ANY GDP AT ALL."

I do not think that the STIMULUS was directed in ALL the right places.

Fact is: Many in Congress got PORK put in there because of the rush.

Fact is: THAT is exactly what Romer, is trying to say.

Instead of stimulus to create Jobs - there was stimulus for PORK PROJECTS.

Now, she is saying that JOBS are so very important, that, stimulus should be directed more at Jobs.

[Clarissa2424]

@feverpitch82

The problems that got us into this mess, feverpitch?

US was in Recession after 9-11, but, instead of raising taxes & cutting spending to pay for the war,Bush gave the richest 1% a huge TAX CUT, - Then, Bush encouraged SPENDING and BUYING OF HOUSES & gave Greedy Bankers access to tons of Mortgage $ to pawn off on People who wanted the American DREAM. Bankers did not CARE because They knew the Government would bail them out!

The old Stimulus was saving IMMEDIATE COLLAPSE.

[swankrecords]

...and since Romer is leaving she can say anything.

[philliproemer21]

Romer has been an excellent contrarian indicator. If she rules out a double dip, it means it's not only on its way, but it will also be horrific.

[MrZ199y]

lol



[drkevincampbell]

Why don't they stop lying. Even on her way out, she still won't tell the truth. They cannot stop a double dip. It's too late. We are in for a Depression. Get real and stop lying.

[Clarissa2424]

@drkevincampbell lol 'doctor' campbell - Anyone who knows 'anything' about economics knows that if any public figure with inside knowledge comes out (gets real, as you say) and says "WE ARE IN FOR A DEPRESSION" - then those words will create a depression.

Reps just want to GET THEIR POWER BACK! That's what it is ALL ABOUT - Power.

"Tea Baggers" want us to focus on the fact that in 2 years the Economy has not completely recovered.

Fact is: The economy was SAVED from TOTA: destruction.

[WingsofDedalus]

@Clarissa2424 Thank you Clarissa. If it were not for the stimulus and federal reserve programs, we would have been living in caves with gold, silver, food, and guns. Jesus Christ smiles upon those who do God's work.

[hilololomoa]

Double dip is coming!400 more banks are in big trouble!

[slhines7]

This lady obviously doesn't know that we are headed for a depression.

[Clarissa2424]

@slhines7 This lady helped prevent the Greatest Depression. She knows very well the trouble the world's economies are in(we are ALL CONNECTED.)

I think she is an intelligent(obviously) woman who probably has the integrity to resign when her knowledge is not being taken seriously by the administration.

If you all WANT a double dip - then the best way is NOT to stimulate for jobs.

Did you know Obama has been trying to get a small business bill through - and the party of NO - just says no?

[slhines7]

@Clarissa2424 This lady has not helped anything. Read up on Peter Schiff and you will know what's up. Govt cannot create jobs and unpopular stimulates are only postponing the inevitable. You cannot spend more without making things worse. You will see that their is no recovery and our economy is headed for the toilet. Read " Why an economy grows and crashes" or "Crash Proof". Your Keynesian beliefs have already been proven to fail.

[Clarissa2424]

@slhines7 I have watched many videos and TV appearances by Peter (I have lots of Gold)Schiff. Nothing would please this man(who has traveled to Saudi Arabia and told them to get their money out of USD) nothing would please him better than to see a Collapse.

Let me ask you a question slhines - Without the BUSH/OBAMA Stimulus the economy and USD would have collapsed in 2008 and a World Wide Depression would have ensued. Would THAT have been better? AT least we have a chance now.

[slhines7]

@Clarissa2424 Yes, we would be in a much better overall fiscal shape now if there had been no stimulus packages and bailouts. That sort of thing is only making things fiscally worse and postponing the inevitable, which is a depression. The economy will eventually have to cyle through a depression, which I think that we are already in=early stages though. It is going to get worse and you can mark my words as well with Schiff's. You can rag on me when I am proven wrong:) That ain't gonna happen:(