New Stimulus Projections -- At most 3.6 million jobs, while feds import 3.2 million n

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New Stimulus Projections -- At most 3.6 million jobs, while feds import 3.2 million new foreign workers​

By Roy Beck, Tuesday, February 17, 2009, 10:30 AM

Two analyses of the just-enacted bill suggest that foreign workers will benefit from either 90% of increased employment due to the nearly-trillion-dollar Stimulus bill.

Or foreign workers will benefit from ALL of the extra employment.

Sound incredible?

Read on ....

1.2 or 2.5 or 3.6 MILLION MORE JOBS AT END OF 2010

A private firm, IHS Global Insight, has analyzed the package and stated the results in a webcast briefing. Instead of looking at jobs directly created by the Stimulus bill, IHS estimated how many fewer jobs will be lost in the economy overall.

With or without the Stimulus, the United States will lose a lot more jobs this year, IHS said. But WITH the Stimulus, 2.5 million more people will have jobs than without the stimulus at the end of 2010, it concluded.

That is far short of the 4 million goal that Pres. Obama had set.

It falls in the middle of projections by the Congressional Budget Office which estimates that the Stimulus bill may result in as few as 1.2 million more jobs in the economy at the end of 2010. But it also says there could be as many as 3.6 million more.

3.2 MILLION MORE FOREIGN WORKERS BY END OF 2010

Unfortunately, I am not aware of a single mainstream news outlet that has juxtaposed estimates for jobs created/protected with the anticipated number of new foreign workers that the feds plan to import over the next two years.

The mainstream media's refusal to talk about this subject is one of the truly great failings of the news media today.

The dirty open secret that the media continue to coverup is that the feds currently plan to bring in about the same number of new foreign workers as the Stimulus is going to create/protect jobs.

Story continues here...

 

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This actually will be a good thing, and here is the reasoning. The biggest part of our problem stems from the housing crisis, and what no one discusses is the fact that we actually built too many homes. this is why currently, we are seeing a rise in vacancy rates both in individually owned homes as well as rental homes. People have to live somewhere, so you would think that with people losing their homes, they would move into rental properties. The reason it is not happening is the so many of these homes were purchased by speculators, and now the speculators are dropping these properties like hot cakes further exasperating the problem.

Because of this, it's going to take a long time for housing to recover. By recover, I don't mean just reducing inventory levels but also to begin building new homes again. By bringing in more foreign workers, it will increase the demand for housing.

Anyway we look at though, this is going to be a slow turnaround.