Economists: Obama’s Jobs Plan Won’t Add Many New Jobs
by PubliusFrom the Associated Press:
First, do no harm. Economists say the most important part of the jobs plan President Barack Obama will unveil Thursday night is the renewal of two measures already in place—a cut in Social Security taxes and emergency aid for the unemployed.
His new proposals, like spending more for transportation projects and cutting taxes for companies that hire the unemployed, probably wouldn’t add many jobs, they say. Not soon, anyway.
“These are not bold, new, big programs,” says Nariman Behravesh, chief economist with IHS Global Insight. “You put everything together, it’s going to be pretty small.”
The job market needs big help. In August, the economy generated zero job growth. And the unemployment rate is 9.1 percent, a level more typical for a recession than for a recovery in its third year.
For Obama, who also faces sinking approval ratings as he goes before a joint session of Congress and on national TV, the options are limited. Congress must approve any new measures, and congressional Republicans oppose new spending.
Read the whole thing here. Lately, most things estimated by economists have been revised downward later on. So, if the trend applies here, Obama’s plan would probably decrease jobs.
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72 Comments
Isn't this just more of the same stuff that has not created jobs? Why would anyone think doing more of what he has been doing would all of a sudden create more jobs?
I like the idea of a cut in Social Security taxes, can I just put an IOU in the Social Security coffer with a promise to pay into it once I need the money?
Obama's plans have destroyed millions of jobs, and more plans will destroy more jobs. These are the results of his policies, and his policies alone.
"Won't add many new jobs" is incorrect…. Given Obama's record so far, any plan of his which is implemented will result in a net job loss.
Obama will not take the steps to reduce unemployment. That will be left to a REAL PRESIDENT not the EMPTY SUIT BOY-CHILD POTUS.
It is official.
The Carter Malaise has officially set in.
Caliphate of Hate and Collapse…
My platform for job creation:
1. Stop all personal entitlements…get people up off their a$$es.
2. Cut the budget (not the rate of growth of the budget) by 5-10% every year for the next 5-10 years.
3. Stop indexing appropriations to the cost of living…or whatever multiple above that that they use…but I repeat myself.
4. Stop all corporate entitlements…but I repeat myself.
5. Stop all state entitlements…but I repeat myself.
6. Pare down the corporate tax rate.
7. Stop corporate double taxation on income earned outside of the USA.
8. Invite investment by eliminating the barriers to entry in the energy markets.
9. Prosecute organizations that legally misuse their not-for-profit status.
Okay, that took about three minutes. My guess is this list will be 9x more substantive than Obama's.
No quarrel here.
Milton Friedman – Greed In his book "Capitalism and Freedom" (1962) Milton Friedman (1912-2006) advocated minimizing the role of government in a free market as a means of creating political and social freedom. An excerpt from an interview with Phil Donahue in 1979
http://www.youtube.com/watch?v=RWsx1X8PV_A
"It is better to offer no excuse than a bad one." George Washington
No Admin has done more harm or terrorized America more than the B.Hussein Obama Regime of Anti-Americanism.
"First, do no harm".
Well, some progressive people have been breaking that rule again and again and again since the sixties..
I still have my old Jimmy sweater. It kept me warm when we were waiting in the gas lines.
Good job miedz! I like #9. Prosecute. We should prosecute everything more aggressively. Crime is out of control; both kinds, street & Govt white collar. Those flash mobs. Mandatory jail. Those thieving politicians, the same. (Maxine)
Also, how about not taxing our kids on the "already taxed" assets that we leave them! Your 3 minutes statement makes an excellent point. We do not need this big bloated oppressive Government! Chop it down to 1/4 of it's present size!
Yep, and he's destroyed many lives too. He and his nefarious Czars.
I still have my Jimmy side arm. That's what kept me warm when we were waiting in the gas lines.
You just never knew what was going to happen……… This time around.. it'll be worse.
His plan has not changed Connie. He wants a New World Order so bad he can taste it. This marxist Regime is going to go into mock speed for this last year!
I know, remember when 'progress' was a good word?
The economists complain the likely proposals are to small bore given what little the GOP will approve. read it yourself, don't depend on Notsmart headline writers.
Last I heard on the "Shovel-ready jobs" front, Barry was laughing it off.
He ain't gonna be laughing much longer.
B.Hussein Obanma's plan has not changed at all. He wants a New World Order so bad he can taste it. This marxist Regime is going to go into mock speed for this last year! It's going to be Pelosi/Reid panic & push time again!
Only this time the Majority of America, a.k.a. The Tea Party American Constitutionalists are going to push them back, big time! We're ready.
…No more illegal maneuvers behind closed doors in the Capitol, and no more Voter Fraud, ACORN style! Voting Districts are working on Voter Photo ID as we speak. You can't cheat if your documents don't add up!
You said it knuckles!
LMAO! Yes, the same "economists" that, month after month are 'surprised' by the increasing unemployment.
Sorry, not a SINGLE economist you can quote has EVER successfully managed an economy.
Liberals are, by definition, criminals.
So in other words, the GOP is not only to blame for Obama's current failures, but his upcoming failures as well. Must be nice to not have any accountability.
His speech and elevating it to a joint session of congress, I feel, is the beginning of the end for this tyrant.
To their credit the house Republicans have played this brilliantly.
His ivory tower is cracking. And after his futile campaign stop inside the halls of congress, Dems, independents, and many in the MSM will see him as being the over his head man-child he actually is.
We may even see a Dem primary fight. He He.
Good thing theTea Party has a mock speed rewinder.
Milton Freidman and fellow Chicago School economists are credited with having run Chile's economy after a few thousand ………………..undesirable……. elements, were……………..uh……………..taken care of.
I see. And that is why the Dow shot up 275 points today. I love it.
Reagan would be appalled at the pinheadedness of the current gop leadership and their fear of Teavangelical nitwits.
No offense CL, but we passed that point 18 months ago. Welcome to France 1788.
Remove the capital gains tax and you'd have an influx of capital like we've never seen at any point in history.
Wow. An America-hating leftie moonbat speaks for Reagan. What's next in your comedy routine, Senor Wences?
Syrin, so true. I purposely did not address revenue…er, confiscation…decreases, but I agree wholeheartedly. I've always learned you have to cut costs to establish your real baseline.
HAPPY DAYS ARE HERE AGAIN!!!!
Just wait til it drops 325 tomorrow.
Obama's jobs plan should be simple. "I resign the office of president…." and then have Joe Biden step forward and resign too.
That'll be the Tea Party's fault, I'm sure.
Can you imagine a class with Barry, “the parasite works best in stealth, latch onto the host, and slowly kill the host.” A hush across the room, “Professor Barry, then what?” Another silence ensues when Barry stumbles awkwardly, “Um…ah…um…um…ah, that’s um…irrelevant!”
Milton weighed in on Obamao's latest porkulus proposal? REALLY? link pls. Milton has been saying for month after month that he's 'surprised' about the rising UM?
LINK or, NEVER post here again.
TROLL
Okay folks, we have a Daily Kook troll posting now.
How do you "create " jobs when you "paying back" your union pals?
These people are already "working" – the last con of saving people from losing the jobs does not work –
Keep these people away from the check book
Oh, yeah. I forgot.
he laughed about screwing taxpayers out of billions in SHOVEL READY JOBS THAT WERN'T?? this speech will have a lot of shovel ready bull-chit ,with another grab your ankles taxpayers,we want to sodomize you for another several billion of your dollars,to redistribute to more of obamas war chest and his pals he may have missed during the last christmas gift distribution plan
That's him! Great stuff.
"To their credit the house Republicans have played this brilliantly."
Sometimes doing nothing at all is genius. All it takes is having the guts to let things happen. We're gonna hit rock bottom with this guy, but that's what it's gonna take. Good post, Mr. Adams.
I bet you wish it was crashing as it did under Bush II.
Nope, I want the economy to be BOOMING like it is right now. The market's up, gas is cheap, I've got a shovel-ready job, and $100 bills are raining down from the heavens!
HAPPY DAYS ARE HERE AGAIN!!! LA-DA DA DA DA DA DA AGAIN….
I always get a laugh when I see that picture of Obama at the blackboard.
Relationships built on self interest?
And he doesn't have Unions listed?
LOL.
Do us all all a favor libtard.
Move your a** to Cuba with the rest of you anti American scum friends.
Because they're insane or ignorant???
Hustler, might I query as to upon which planet you reside?
WTF?
Are you actually positing that current economic trends are favorable, and
using a single-day rising Dow as "evidence?"
One need not even rebut such feces.
Obama, the one trick pony, no longer gets praise by jumping through the same tired, old flaming hoop.
(besides, he fumbles when he jumps, so he keeps burning his ball$.)
If liberals understood how an economy works and how jobs are created, they wouldn't be liberals.
He's a moron. He should have been out back clapping the erasers.
The picture of our MARXIST-IN-CHIEF at the blackboard says it all! Too bad the IGNORANT SHEEP bought this man's BS! He has no business being in the White House!
You are a fool if you would think I'd ever want to see anyone's financial situation get any worse. Grow up.
Since when has any of Obama's legislation helped anyone but his campaign contributors?
I appreciate you actually linking to the other story, often it's a link to some ad. I notice that it helped your cause to link to the story because so few of your readers actually link out. If they did, they would read this line in the story that sums it ALL up:
"Anything that would be of a big enough size to really help the labor market is going to have trouble getting through Congress," says Michael Hanson, senior economist at Bank of America Merrill Lynch. "And anything that can get through Congress will be too small to be much help."
With 25M fewer Manufacturing jobs in the US than we had in 1980, our Recovery supporting jobs and industry are humming along in China. For every job opening that exists today there are over 4 people looking for jobs. That's a LOT of jobs to create out of thin air.
As long as the Right continues to support the policy of "let America fail so our Party benefits" it's not the President's fault, it's the idiots putting partisanship before Country.
I imagine tonight Obama will tout his economy that has 90.9% of Americans working.
25 m jobs less because unions forced them overseas,quit the bull chit party spin,"let america fail so our party benefits"???more like to put out a fire you first have to stop the pyromaniacs,the democrats are spending our country into oblivion with giveaways to pals of obamas(unions,etc),how much of the 4-5 trillion wasted so far helped you or 9.2 unemployment??? now will hear a campaign speech ,whineing to spend more this time?? maybe will get something other than redistribution of wealth/reperation for slavery,etc.?? SOMEONE? has to say no to the spoiled children,sonner than later!
the arrogance/stupidity of this president still astounds me. Given he is potentially in a fight to save his throne, he should know that for any plan to succeed, he needs to get buy-in from both sides of the aisle. Yet, he won't talk to the republicans ahead of time to get their support for his plans.
By not getting support from both sides, his plan is doomed to failure. What an idiot
Did you read the linked to story? Of course not! As for your 25M fewer jobs because of Unions, the Heritage Foundation would be ecstatic to know that their hundreds of millions of dollars spent "bashing the Middle Class to Save the Executive Class" is working!! WAKE UP! Germany has the highest per capita wages in the WORLD, and is highly Unionized and they have prospered through this Global Recession! While we are experiencing little to no GDP growth, Unionized and Regulated Countries like Germany have prospered.
Union bashing was started for one reason only, to break Unions to allow for Companies to more easily move jobs overseas, PERIOD! We grew bigger and faster than at any time in our History after WWII, during the peak of Unions and when tax rates on the Upper 1% were over 70% and Corporate tax rates were 46%!
Do Unions have issues? Of course, Unions are no different than families, there are always a couple dysfunctional individuals in the family. But your solution is that if there are a couple "bad apples" in the family, than we need to eliminate the entire family.
Where to start with you. how about the partisanship crap first. If you havent noticed, but all through the Obama adminsistration they have been nothing but partisan. Heck, Obama even said for the GOP to sit in the back seat as he does what he wants. And we see what that got us now.
Here are some facts as to why jobs have and still are moving overseas. Our government over taxes, over regulates, and the unions demand too much from our businesses. Even Obamas fabled green jobs are going either overseas or out of business now.
As for another government stimulus bill, it will fail just like the first one. Heck, we still havent spent all of the first stimulus yet either. Government spending will never solve the problem, since that is the problem.
So please, can you stop the BS rhetoric.
Partisan? Let's see since he's been in office, he has:
* Passed Healthcare that ended up being a DIRECT copy of the RNC plan for healthcare reform.
* Extended the 2003 Bush Tax cuts for the Top 2% TWICE
* Changed his Stimulus from 90% cash 10% Tax incentives, to a near 50 – 50 cash/tax breaks split because of the GOP (BTW, all those tax breaks did is make the last two years the most profitable on Corporate History while virtually NO hiring occurred in the U.S.)
* As Donald Rumsfled just said this week, "Obama has extended the Bush Doctrine in the Middle East." In what world does Partisanship include doing the same thing as the previous GOP President?
* He earned an F grade from the Top 6 Gun Control groups for signing 2 Executive Orders expanding Conceal and Carry rights on Federal Land. In what world does a "Partisan" Democrat advance gun availability?
* He just passed legislation taking Pollution Control BACK to 1997 levels, reversing a Pollution Bill passed by W and the GOP Congress. In what world does a partisan Democrat say "Pollute away????"
In WHAT F_CKING WORLD do these FACTS qualify as Rhetoric? In a haters world? Yep…
Look, if you hate the guy because he's a Democrat, or he's got a funny name or he's not the same color as you, than that's your deal. But get your facts straight about what is going on in the World.
The only people b-tching about Obama more than the far right is the far left!!!!!
That is what I remember seeing on the news. Everyone needs locking gas caps again. My car doesn't have a gas cap. Guess it'll be a more complicated fix.
My thought exactly!
I am sure you know that this is a snap of one of his Community Agitation classes. The Union is somewhere on that board at some point.
You still seem to be missing the point. Most everything under Obama within the first 2 years were hyperpartisian as they passed everything they wanted with little to no input from the other side. Then when the GOP finally gained power in 2010 in the House, the GOP wanted to work more with the Dems, yet the Dems demonize them and played more stupid partisian games to get more of what they wanted passed.
To be fair, I dont give a damn what a politicians party, name or skin color is. I only care about policies. Obama has proven to have the most leftist extreme policies of any president in decades. Since he is still a major supporter of redistrubuting wealth, pushing for more government spending, over regulating more, and he is still seeking higher taxes as well.
I only look at the facts dude, since talking points are for morons. I was expecting more out of you, but there isnt much from those who are hyperpartisan morons.
More BS talking points again. You do realize that the unions are not the middle class or the working class, since the unions make up a very small percentage of those.
Something you may not notice about the unions, is that they largely dont care about the workers. Afterall, the unions dues only go to their union bosses or to pay off politicians. Could explain alot why many unions are running out of money for their own pentions. Then there is the fact that unions keep on demanding more from either the tax payers or businesses in a time where everyone is cutting back, therefore they are costing everyone more money they dont have.
In order to put this country back into economic growth we need to do a few simple things. First, get rid of government unions. Second, rewrite the tax code to a Fair tax and everyone pays the same rates across the board. Third, cut corperate tax down to about 12%. Fourth, turn our country into a Right to Work country, since private unions should be optional not manditory.
Actually, no you are missing the point. I provided OBJECTIVE facts concerning legislation passed, ALL of which passed in his first two years except the Second extension of the "wealthy tax break."
What you are providing is Subjective statements, a veritable staple of the Conservative mindset and media.
Please provide specific legislation passed by Obama that you deem as Partisan, and I will gladly address each one individually.
Until then I defer to Matt Labash, Senior Writer at the Weekly Standard:
"Why have conservative media outlets like The Weekly Standard and FOX News Channel become more popular in recent years?"
[Matt Labash: "Because they feed the rage. We bring pain to the liberal media….While these hand-wringing Freedom Forum types talk about objectivity, the conservative media like to rap the liberal media on the knuckles for not being objective. We've created this cottage industry in which it pays to be un-objective … It's a great way to have your cake and eat it too. Criticize other people for not being objective. Be as subjective as you want. It's a great little racket."
We don't need "rackets" we need bipartisan solutions like we had with Reagan/O'Neill and Clinton/Gingrich…
Unions are the CORE of the Middle class!!! The GREATEST Middle Class EVER created was the U.S. Middle Class post WWII on the back so f Union jobs and Union pay!!
To your point, you are correct that as we have eliminated Union jobs and shifted wealth to the very top, we have no more Middle Class…
In 1980 the Top 1% earned 9% of total US income….Today, the Top 1% earns 23% of total US income. Meanwhile the Average white male Middle Class worker has seen their income drop 10% during that same period.
And why is it that pointing out that Germany with the highest wages in the world prospering through the Global recession is a "B.S. talking point?"
Why do Conservatives see facts as B.S.?
Union bashing was started for one reason only, to break Unions to allow for Companies to more easily move jobs overseas, PERIOD! We grew bigger and faster than at any time in our History after WWII, during the peak of Unions and when tax rates on the Upper 1% were over 70% and Corporate tax rates were 46%!
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