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The legislation, submitted to Congress this month, would increase gross domestic product by 0.6 percent next year and add or keep 275,000 workers on payrolls, the median estimates in the survey of 34 economists showed. The program would also lower the jobless rate by 0.2 percentage point in 2012, economists said.
Obama’s plan, announced on Sept. 8, calls for cutting the payroll taxes paid by workers and small businesses while extending unemployment insurance. It also includes an increase in infrastructure spending and more aid for cash-strapped state governments.
Tax cuts account for more than half the dollar value of the Obama plan, which also includes $105 billion in spending for school modernization, transportation projects and rehabilitation of vacant properties, according to a White House fact sheet. The proposal includes $35 billion in direct aid to state and local governments to stem dismissals of educators and emergency personnel.
Some 13,000 jobs would be created in 2013, bringing the total to 288,000 over two years, according to the survey. Employers in the U.S. added 1.26 million workers in the past 12 months, Labor Department data show.
The economy will expand 2.2 percent next year, according to a separate Bloomberg survey of economists conducted Sept. 2 to Sept. 7. The same survey said the unemployment rate would average 8.8 percent in 2012.
I'm an economist
It also includes an increase in infrastructure spending and more aid for cash-strapped state governments
Artificial GDP.
It also includes an increase in infrastructure spending and more aid for cash-strapped state governments
Artificial GDP.
Do you honestly think you know what you are talking about?
I'm an economist
Somehow I am not convinced...
I'm an economist
Somehow I am not convinced...
Point scored for me.
I'm an economist and I say Obama has been poison to long term economic recovery so there.
Appeal to authority ftl
Billy is an idiot who proves he can't read.
Note the article cited the "median" of economists predictions. That is only one form of average, "mean" being what we normally think of as average.
So if they have 38 economists and 36 say growth would be 1%, 1 economists says growth would be 3% and one says growth would be 4% then the headline reads "Median of economic predictions say growth will be 3%."
Now, the unemployment situation has been improving some without Obama's crappy Stimulus II. So clearly this is unneeded, except by Democrats in an election year.
Billy, don't be a zero.
Billy is an idiot who proves he can't read.
Note the article cited the "median" of economists predictions. That is only one form of average, "mean" being what we normally think of as average.
So if they have 38 economists and 36 say growth would be 1%, 1 economists says growth would be 3% and one says growth would be 4% then the headline reads "Median of economic predictions say growth will be 3%."
Now, the unemployment situation has been improving some without Obama's crappy Stimulus II. So clearly this is unneeded, except by Democrats in an election year.
Billy, don't be a zero.
How exactly is Obama's stimulus not a factor? Can you even explain that? No, because you are just making blind assumptions.
