Posted on 03/10/2009 7:58:26 PM PDT by tobyhill
President Obama has repeatedly said the $787 billion stimulus plan passed by Congress last month would save or create at least 3.5 million jobs. But today House Democrats heard a sharply downsized prediction: 1 million fewer jobs.
In a closed-door meeting with House Speaker Nancy Pelosi and Democratic House leaders, two leading economists who have been advising Democrats predicted the stimulus would save or create only 2.5 million over the next two years.
The assessment was offered by Mark Zandi of Moodys.com and Allan Sinai of Decision Economics Inc. That's significantly less than the White House has predicted. It's also far fewer than the 4.4 million jobs that have already been lost during the recession so far.
We are going to need more taxpayer money upfront. I think another stimulus package is a reasonable probability the way things are going," Zandi told reporters after the meeting.
(Excerpt) Read more at abcnews.go.com ...
The answer is always more taxpayer money. I think politicians should have to put up 50% of any money they take from the taxpayers from their own pockets. As it is they don’t have any skin in the game.
When we campaign on this issue in 2012 we need to insist on using the original “save or create 4 million jobs” line (the line they originally trotted out). That raises the bar to our advantage.
The LameStream Media will start to spin for Hussein in 3, 2, 1. Go.
BARACK OBAMA’S PLAN TO CREATE 5 MILLION NEW GREEN JOBS
That's $314,800 a job.
Simply stated that is insanity.
That is clearly a bargain, only 7870 dollars per job. I thought it would be closer to 100K per job considering O’s team.
True. They were playing around with the numbers for a while. That’s a good thing because if he doesn’t even make the lowest bar you could accuse him of lowing the bar constantly and still failing.
The whole idea of “saving” a job is ludicrous. How do you measure that? Only a politician could come up with that.
Say what? $787,000,000,000 / 2,500,000 = $314,800.
And no mention of what pulling $787 billion out of private interprise will cost in jobs over the longer run...
Not a very bright move by the voters to put a bunch of clueless, dumbass kids in charge of the country. Not very bright!
There is talk of a second stimulus, too. My opinion is look for that this fall if there is no recovery. Afterall they are going to need more cover for the 2010 elections.
0bama lied. Jobs died.
We have lost 4.4 million jobs in this recession, but Obama saved 10.4 million, so he’s actually created 6.0 million jobs. See, the stimulus actually works! It’s a miracle.
Socialists are such cretins.
They’re not trying to “save” the economy, they’re just trying to keep their gravy train chugging.
It’s amazing that he’s low-balling his idiotic “saved jobs” promise. He could say he’s going to “save” 20 million jobs, and as long as 20 million people remain employed at the end of his term, he can technically claim success.
The gravy train is just a fringe benefit. Their long term goals are far more sinister.
No one really knows when the economy will recover. Barney Frank thinks the economy will recover this fall. Fox Business said last week the economy won’t recover until 2011. With today’s rally, Fox Business is now saying recovery could be in early 2010.
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