I thought President Obama’s jobs speech last night was excellent. Delivered with a too rarely seen passion, the proposals he’s making seem not overly ambitious but practical, centrist and uncontroversial. Of course, the odds are close to 100% that it’s dead on arrival with the Republicans who have even found in it a tax cut proposal they don’t like. But that’s just because it would help the poor and middle class and Obama wants it.
So should we pass this proposal?
Top economic analysts are giving favorable estimates of just how many jobs President Obama’s new plan would create. Mark Zandi, chief economist at Moody’s Analytics, predicts Obama’s “American Jobs Act” will likely add 1.9 million jobs and grow the economy by 2 percent. The nonpartisan Economic Policy Institute reported that it would boost employment by around 4.3 million jobs, with 2.6 million jobs coming from new initiatives alone. Link
4 comments:
One word for you: Solyndra.
One company fails and we give up on any attempted stimulus or injecting money in the economy? That proves that none of this works? That's a pretty high bar you've set. If I can provide a counter-example, will that change your opinion?
It isn’t the only one, and its failure isn’t the only problem. It’s also all the politics and crony capitalism that goes on behind the scenes. Corporate political contributions and lobbyists multiply, as companies compete for government largesse.
But still not a reason to stop trying to get us out of this hole.
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