1 + 1 = -3 ... Doh!!!
It's one thing to oppose the "Stim" based on well-reasoned political grounds ... but it's another "there they go again" exercise in Republican Big Lie propaganda to use bogus mathematics in an attempt to cast their Bizarro World Republican Stimulus Plan, as a better alternative, to the hard-fought, compromise plan that President Obama recently signed into law. The new stimulus package had solid support from economists and main-stream business leaders. The American Recovery and Reinvestment Act , was enacted within the first 30 days of the new Obama administration, without any visible means of support from the GOP.
It is really a lame bozoian attempt, to use fake math and undisciplined economic analysis to claim their plan has a higher probability of success and stronger efficacy. Boooguuus!
TPM had previously de-bunked this sad display of bogosity...
As we've pointed out, this claim is based on some very questionable math -- it involves reversing prior calculations about what a tax increase would do, and declaring the mirror image to be true for a tax cut, and also ignores the fact that the current deflationary crisis involves different fundamental economic assumptions than usual.
"the Romer analysis used by the GOP ... never examined the effects of tax cuts on a deflationary economy -- it looked at the effects of tax increases on the economy as a whole and found a negative effect of 2.2% - 3% on GDP.
The Republican analysis simply flipped those numbers to positive and applied them to the GOP-backed tax cuts, then multiplied the result by a broad job creation estimate used in a recent paper from Romer and Jared Bernstein, an economic adviser to the vice president. If you read the Republicans' document, you can see the caution advised in assuming that 6.2 million jobs would be created by their plan."