Economists like Obama plan

Discussion in 'Politics' started by Truthmatters, Sep 9, 2011.

  1. Truthmatters
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    Many economists say Obama jobs plan will help


    That was the assessment Thursday night from economists, who offered mainly positive reviews of President Barack Obama's $447 billion plan to stimulate job creation.

    Some predicted it would put hundreds of thousands of people back to work next year, mainly because a Social Security tax cut for workers would be deepened and extended to small businesses.



    "Payroll tax cuts are very powerful," said Allen Sinai, chief economist of Decision Economics. "They provide a boost to direct income and, in turn, spending, which is important to growth."

    Mark Zandi, chief economist at Moody's Analytics, estimated that the president's plan would boost economic growth by 2 percentage points, add 2 million jobs and reduce unemployment by a full percentage point next year compared with existing law.
     
  2. Truthmatters
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    What will the right do with this information?
     
  3. Truthmatters
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    Just more educated people for you to spew hate at huh?
     
  4. FireFly
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    FireFly Bright F**ker

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    TEA Party Eric Cantor says he is willing to work with the president to implement most of this plan.
     
  5. Conservative
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    how many economists?
    link to the specific economist opinions?

    Isn't that what they said about the Crapulus bill? You know, the one that left the unemployment rate up at 9.1%?
     
  6. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    From your link:

    " Some economists cautioned that some factors might blunt the impact of Obama's enlarged Social Security tax cut. For one thing, the tax cut would deliver only a temporary boost. It would expire at the end of 2012. Most economists foresee unemployment remaining high well after next year.

    And Michael Mandel, chief economic strategist for the Progressive Policy Institute, suggested that the link between consumer spending and job creation is weaker in an economy like America's that's highly open to foreign goods.

    Consumer spending accounts for about 70% of the economy.

    "If the payroll tax cut encourages consumers to buy more (imported) clothing, that's likely to create more jobs overseas than in the U.S.," Mandel said.

    In addition, Paul Ashworth, chief U.S. economist at Capital Economics, said many taxpayers might save the extra money from the tax cut rather than spend it. "


    PS: Only a far left ideologue would suggest that Obama's Jobs Bill would boost GDP by 2 points, or add 1 million jobs, or lower the UE rate by a full %. What a tool.
     
  7. Dr.House
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    Are these the same economists who are fond of using the word "unexpectedly"?
     
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  8. Conservative
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    Obama’s Jobs Plan Won’t Work, Economists Say
    THAT, is how you post, TM, you dick-drip. You find a source that actually quotes an economist, instead of just 'saying' what some said.
     
  9. Conservative
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    Local economist says Obama's new jobs plan won't help
     
  10. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    And something else: I'm tired of hearing we should spend 455 billion bucks right now without carefully determining how and where to spend it. Been there and done that with the 1st stimulus, anybody who is satisfied with the results we got from that is nuts.
     

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