Quote:
Originally Posted by scottw
really Spence?...what exactly did we get for all of the spending??? the only thing to hang your hat on is that we may have lost fewer jobs,( "jobs saved" supposedly, assuming the rate of job loss was going to continue at those levels), as a result of the money spent?...that is ludicrous...I think even the admin. has stopped trying to run that up the flag pole...
larger government I guess, temporary census jobs?...you are delusional...you are moot 
guess a lot of people are permanently screwed according to Biden
Biden: We Can't Recover All the Jobs Lost
Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, "there's no possibility to restore 8 million jobs lost in the Great Recession." |
As with most investments there are hard and soft benefits.
Reducing the rate of job loss and averting a much deeper recession is of tremendous benefit to the American people. Some of this was simply emotional which is soft, but very important. Harder benefits like new hires, increases in pay or the big one GDP can be measured, but the driver isn't always a single cause.
The economists seem to generally agree that the Stimulus Bill did help avert a deeper recession, which in soft terms means the economic impact is far beyond 600B.
Never recovering all 8M jobs doesn't mean we won't recover. A lot of jobs will be lost through automation and technology changes. As a country, we need to adapt and innovate.
-spence