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Stimulus Provided Large Jobs Boost, Says CBO Report
By Steven Hoffer - AOL News(Nov. 24) -- Here is one thing you can be thankful for: The heavily criticized American Recovery and Reinvestment Act generated a rise of between 1.4 and 4.1 percent in national output from July to September, according to a report from the nonpartisan Congressional Budget Office. With the unemployment rate still at the forefront of public concerns, the CBO said the stimulus package also created between 1.4 million and 3.6 million jobs during the same period. The stimulus did not, however, decrease the unemployment rate to below 8 percent, as the Obama administration promised when it sold the ...
Republicans Think They Won a Mandate, but Did They?
By Jill Lawrence - Politics DailyRepublican leaders are sounding like men with a mandate. Sweeping House gains and new governorships in nine key swing states in the 2012 presidential election will do that for a party. "We are determined to stop the agenda Americans have rejected and to turn this ship around," Senate Minority Leader Mitch McConnell said. So what, exactly, have Americans rejected? Republicans have vowed to repeal the new health reform law, which McConnell called "a metaphor for the government excess that we witnessed over the last two years." The national exit poll of 17,504 midterm election voters, however, ...
Obama Continues Outreach With Message to Black Newspapers
By Mary C. Curtis - Politics DailyThe question to the president posed by Chris King of the St. Louis American newspaper illustrated the discomfort of some Democratic candidates -- and the frustration of voters they are courting -- as the midterms approach. "We've seen here in Missouri a lot of Democrats acting like they're not Democrats and not embracing a lot of the legislative accomplishments, "King said. "We have a hard time convincing people these Democrats are going to help you when they don't really say they're going to help you. What should we tell our readers about these rather confusing and disappointing campaigns?" ...
Dead Stimulus Walking: Feds Mailed Millions in Checks to the Deceased, Jailed
By David Knowles - AOL News(Oct. 7) -- Who says you can't take it with you? According to a new report from the Office of the Inspector General, $18 million worth of stimulus checks were mailed out to people who were no longer among the living. Here is how the report broke the news: Our review disclosed that 71,688 beneficiaries who were deceased before the payment certification date received an ERP. This included 63,481 beneficiaries whose deaths had been reported to SSA and 8,207 Prouty beneficiaries whose deaths were generally not reported to SSA. As a result, we estimate SSA issued about $18 million in ERPs to ...
Obama: Give Democrats Time to Fix the Economy
By Joseph Schuman - AOL News
(Sept. 10) -- President Barack Obama accused Republicans of playing political games instead of pitching in to fix the economy, and asked impatient voters to give a Democratic-controlled Congress more time to crank up the economic recovery. "For all the progress we've made, we're not there yet, and that means that people are frustrated, and that means people are angry," Obama said at his first full news conference in three months, as campaigning picks up ahead of the midterm congressional elections. "Since I'm the president and Democrats have controlled the House and the Senate, it's ...
White House Wants Billions for the Economy -- But Don't Call It a Stimulus
By Alex Wagner - Politics DailyWith a majority of Americans critical of the president's handling of the economy, most of the public disapproving of the direction in which the country is headed, and looming midterm elections that threaten to be a bloodbath for Democrats, the White House is under extreme pressure to do more to get the ailing national economy back on its feet. So this week, the Obama administration unveils three measures aimed at jump-starting job creation and helping businesses -- or at least blunting criticism that the president has not done enough and that his course of action has been the wrong one. ...
Stalled Jobs Bill Killing Small-Business Hiring
By Steven Hoffer - AOL News(Aug. 31) -- As Congress sits in recess, small-business owners remain in limbo. That's the unfortunate economic news out of a Tuesday report from USA Today outlining the status of the Small Business Jobs and Credit Act of 2010, which passed the House but now sits motionless in the Senate, where it has sparked a bitter partisan tug-of-war over proposed amendments, with both Republicans and Democrats blaming the other side for failure to move forward. President Barack Obama weighed in on the issue his first day back from vacationing in Martha's Vineyard and a day trip to New Orleans. "I ask ...
CBO: Bad Economy Would Be Worse Without Stimulus
By Joseph Schuman - AOL News(Aug. 25) -- A complete cure for the economic malaise gripping the country is still eluding officials in the Obama administration and the Federal Reserve, but that doesn't mean the policies they've taken haven't helped. Today's report from the nonpartisan Congressional Budget Office finds that the stimulus program pushed through last year by President Barack Obama has put millions back to work -- a point fiercely contested by Republicans in the pre-election debate over stubborn unemployment and slowing growth. Lynne Sladky, AP Joseph Oeler Jr., 35, of Hollywood, Fla., waits in line Aug. 2 ...
White House Rebuts Boehner, Stimulus Critics With New CBO Report
By David Knowles - AOL News(Aug. 24) -- What affect has the $787, scratch that, now $814 billion stimulus bill had on the economy since it was passed in early 2009? On Tuesday, three separate takes emerged from three high-profile sources. According to House Minority Leader John Boehner, the effect was primarily was a "job-killing" one that should cost Treasury Secretary Timothy Geithner and economic adviser Lawrence Summers their jobs. According to the White House, the stimulus "prevented economic contraction" and is spurring innovation in clean energy, transportation and medical technology. Finally, according to a ...
Opinion: Business to Blame for Anti-Business Mood
By Marty Robins - AOL News(July 8) -- At a speech in late June, Verizon CEO Ivan Seidenberg said that if you want to know why businesses aren't hiring, look to Washington. "By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses," he said. GE CEO Jeff Immelt has issued similar complaints. I agree with their concerns, and feel that much of the rhetoric and action is detrimental to the economy. But if they want to know why there's so much animosity toward business these days, they should look in ...
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