This gold proposal was, of course, blocked by Republicans back in the final quarter of 2011.
Obama Jobs Plan Prevents 2012 Recession in Survey of Economists - Businessweek
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.
Obama Jobs Plan Prevents 2012 Recession in Survey of Economists - Businessweek
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