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Bloomberg: Economist are positive about Obama's jobs plan

kiwiman127

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
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Thoughts?
 
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Dragon

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Well, that's because economists actually know something, on occasion, about economics, and do not confuse that subject with right-wing ideology. What a concept!
 

Quantum Windbag

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
=============================

Thoughts?

It is interesting that the author of the article chose to actually lie about what the economists said.

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.
Economists in the survey are less optimistic than Treasury Secretary Timothy F. Geithner, who has cited estimates for a 1.5 percent boost to gross domestic product. Even so, the program may bolster Obama’s re-election prospects by lowering a jobless rate that has stayed near 9 percent or more since April 2009.

Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.
 

CrusaderFrank

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Bloomberg needs to buy an Island somewhere and make himself King
 

Sallow

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
=============================

Thoughts?

It is interesting that the author of the article chose to actually lie about what the economists said.

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.
Economists in the survey are less optimistic than Treasury Secretary Timothy F. Geithner, who has cited estimates for a 1.5 percent boost to gross domestic product. Even so, the program may bolster Obama’s re-election prospects by lowering a jobless rate that has stayed near 9 percent or more since April 2009.

Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.

Yeah..what they really should have asked were the Tea Party..


Or Herman Cain.

[ame=http://www.youtube.com/watch?v=PtjdHaMeiiQ]1986 Earl Scheib commercial - YouTube[/ame]
 

Quantum Windbag

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
=============================

Thoughts?

It is interesting that the author of the article chose to actually lie about what the economists said.

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.
Economists in the survey are less optimistic than Treasury Secretary Timothy F. Geithner, who has cited estimates for a 1.5 percent boost to gross domestic product. Even so, the program may bolster Obama’s re-election prospects by lowering a jobless rate that has stayed near 9 percent or more since April 2009.
Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.

Yeah..what they really should have asked were the Tea Party..


Or Herman Cain.

[ame="http://www.youtube.com/watch?v=PtjdHaMeiiQ"]1986 Earl Scheib commercial - YouTube[/ame]

Or some of the economists who disagree with Obama and Bloomberg.
 
OP
kiwiman127

kiwiman127

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
=============================

Thoughts?

It is interesting that the author of the article chose to actually lie about what the economists said.

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.
Economists in the survey are less optimistic than Treasury Secretary Timothy F. Geithner, who has cited estimates for a 1.5 percent boost to gross domestic product. Even so, the program may bolster Obama’s re-election prospects by lowering a jobless rate that has stayed near 9 percent or more since April 2009.

Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.

Yeah, I went to the Bloomberg piece and it's true the author for The Atlantic cherry picked his numbers, so it wasn't so much as a lie, but certainly misrepresentation.
My apologies. :redface:
Typically, The Atlantic is very reliable, this certainly isn't up to their standards.
 

Truthmatters

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The facts in the article is the economists say it will help the economy.

That is not in dispute
 

Truthmatters

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
=============================

Thoughts?

It is interesting that the author of the article chose to actually lie about what the economists said.

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.
Economists in the survey are less optimistic than Treasury Secretary Timothy F. Geithner, who has cited estimates for a 1.5 percent boost to gross domestic product. Even so, the program may bolster Obama’s re-election prospects by lowering a jobless rate that has stayed near 9 percent or more since April 2009.

Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.

Yeah, I went to the Bloomberg piece and it's true the author for The Atlantic cherry picked his numbers, so it wasn't so much as a lie, but certainly misrepresentation.
My apologies. :redface:
Typically, The Atlantic is very reliable, this certainly isn't up to their standards.

Note how classy this is.

I wish we could see much more class like this.
 

Quantum Windbag

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The news service surveyed economists and found them to be overwhelmingly positive on the jobs act, predicting anywhere from a 1.3 percent to a 2 percent boost to the nation's economy if it passes, preventing a recession in 2012. As the Washington Times' Steve Benen points out, "support for the American Jobs Act continues to be much stronger among economists than members of Congress." It gets even better for the White House: the economists Bloomberg surveyed said Republican plans would actually push the economy back toward recession. "A reduction in government spending, the end of the payroll-tax holiday and an expiration of extended unemployment benefits would cut GDP by 1.7 percent in 2012, according to JPMorgan Chase & Co. chief U.S. economist Michael Feroli in New York.Economists Like the Jobs Act a Lot More Than Congress - Politics - The Atlantic Wire
=============================

Thoughts?

It is interesting that the author of the article chose to actually lie about what the economists said.

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.
Economists in the survey are less optimistic than Treasury Secretary Timothy F. Geithner, who has cited estimates for a 1.5 percent boost to gross domestic product. Even so, the program may bolster Obama’s re-election prospects by lowering a jobless rate that has stayed near 9 percent or more since April 2009.
Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.

Yeah, I went to the Bloomberg piece and it's true the author for The Atlantic cherry picked his numbers, so it wasn't so much as a lie, but certainly misrepresentation.
My apologies. :redface:
Typically, The Atlantic is very reliable, this certainly isn't up to their standards.

He cherry picked the numbers from what Geithner claims, but I am willing to give you the benefit of the doubt in trusting a source that is normally reliable.
 

Quantum Windbag

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It is interesting that the author of the article chose to actually lie about what the economists said.



Obama Plan Prevents 2012 Recession: Economists - Bloomberg

I will also point out that a survey of 34 economists is hardly inspiring in the depth it reaches.

Yeah, I went to the Bloomberg piece and it's true the author for The Atlantic cherry picked his numbers, so it wasn't so much as a lie, but certainly misrepresentation.
My apologies. :redface:
Typically, The Atlantic is very reliable, this certainly isn't up to their standards.

Note how classy this is.

I wish we could see much more class like this.

You could start by doing it yourself.
 

Sallow

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Or some of the economists who disagree with Obama and Bloomberg.

Which economists are those? The Milton Friedman acolytes that stress top down economics will eventually filter into the general economy thus rising all boats? :lol:

Greenspan eventually saw the folly of that..after he was out of office. He forgot to factor in "greed".

Even the Republicans are acknowledging that this would benefit the economy..but have moved the goal posts..saying it's a "short term fix".
 

expat_panama

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...Even the Republicans are acknowledging that this would benefit the economy...
Fat chance.

Back on the planet earth there is no bill. Republicans don't want it. Democrats don't want it either. OK, Democrats 'say' they do but they won't vote for it because they won't even introduce it. IBD has an editorial mentioning Sen Harry Reid's excuse that the Senate floor was “pretty well jammed now.” Oh, really? Over the past three weeks, the Senate has been grappling with such burning national issues as:

 Designating Sept. 12 as National Day of Encouragement and Sept. 23 as National Falls Prevention Awareness Day.
 Passing a resolution in support of National Brain Aneurysm Awareness Month.
 Declaring October National Principals Month.
 Creating a National Estuaries Day.
 Honoring this the International Year of Chemistry.
 Passing the Burmese Freedom and Democracy Act.
 Recognizing Sept. 24 as a Worldwide Day of Play.​

Given all that hard work, we can see how squeezing in a vote on Obama’s must-pass-without-delay jobs bill would be tough.
 

Quantum Windbag

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Or some of the economists who disagree with Obama and Bloomberg.

Which economists are those? The Milton Friedman acolytes that stress top down economics will eventually filter into the general economy thus rising all boats? :lol:

Greenspan eventually saw the folly of that..after he was out of office. He forgot to factor in "greed".

Even the Republicans are acknowledging that this would benefit the economy..but have moved the goal posts..saying it's a "short term fix".

Actually, you have it backwards, even the Democrats are saying it won't help, which is why Reid is not in any hurry to schedule a vote. He actually has more important political posturing to do before he worries about jobs.

Senate Majority Leader Harry Reid (D-Nev.) has made it clear that he will not schedule a vote on President Obama’s jobs package until after the upper chamber moves a China currency bill that the administration does not support.Reid is wielding a significant amount of leverage with the White House on the China legislation, which is unlikely to be signed into law in the 112th Congress. Yet passing the bill through the Senate — which is expected to happen next month — would help Democratic incumbents on the campaign trail, where China-bashing usually resonates.



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Obama has made a $447 billion jobs package his top legislative priority. Earlier this month, Obama urged Congress to pass his jobs bill “now.” Three weeks later, Reid has not yet scheduled a vote.


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The Nevada Democrat has promised to proceed with Obama’s legislative wish list, but only after the Senate considers the China bill, deftly using the Senate calendar to keep any possible opposition from the administration at bay.


Reid playing for leverage with jobs bill - TheHill.com
 

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