Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Jobs plan may create 1 million jobs - economists
CNN ^ | September 9, 2011 | Chris Isidore

Posted on 09/09/2011 7:56:07 PM PDT by MinorityRepublican

President Obama laying out his proposed jobs plan to Congress Thursday night.

NEW YORK (CNNMoney) -- Economists gave generally positive reviews to President Obama's jobs plan Friday, with some estimating that at least 1 million jobs could be added in the next year if Congress passes the package.

The payroll tax holiday for workers and small businesses was cited specifically for having a relatively good "bang for the buck." And that part of the plan may have the most bipartisan support.

"This additional spending capacity in the hands of consumers should continue to foster improvements in aggregate domestic demand. And ultimately, it is demand and demand alone that will lead to more business hiring," said Russell Price, senior economist for Ameriprise Financial Services.

Price estimates the increased payroll tax holiday for workers by itself is likely to add between 750,000 to 1 million jobs, and that the new break on payroll taxes for employers could add an additional 100,000 to 200,000 jobs.

He added that gross domestic product, the broadest measure of the nation's economic activity, could get a 1.5 percentage point boost as well.

Macroeconomic Advisors, a St. Louis research firm, estimates that payrolls would grow by 1.3 million by the end of 2012 and another 800,000 by the end of 2013, if the package passed as proposed. It is looking for a 1.3% rise in GDP.

Joel Prakken, chairman of Macroeconomic Advisors, said even if the impact to the economy is short lived, the jobs plan should be passed.

"Given the elevated risk of recession the U.S. faces today, additional near-term stimulus reduces that risk," said Prakken. "Given the deleterious effects of long-term unemployment on an individual's skills and long-term employment prospects, speeding a return to employment is both individually and socially beneficial."

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; obamadepression; obamanomics; predictions; recovery; stimulus; stimulus2
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-68 next last
To: Blood of Tyrants

Give one million people $40,000 per year for ten years.

...but that would mean less control.


21 posted on 09/09/2011 8:10:50 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
[ Post Reply | Private Reply | To 5 | View Replies]

To: MinorityRepublican
The payroll tax holiday for workers and small businesses was cited specifically for having a relatively good "bang for the buck." And that part of the plan may have the most bipartisan support.

Unless I am mistaken, most of this is already implemented with zero results, and is being discussed as a renewal for another one year period. I guess doing more of what does not work will somehow produce miracle results.

22 posted on 09/09/2011 8:12:57 PM PDT by ilgipper (Everything you get from the government was taken from someone else)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
Are these the same economists who said 'cash for clunkers' would work?

Or that QE1 would work?

Or QE2?

Hard to tell - sooooooooo many programs, so many failures, so many lying economists....

23 posted on 09/09/2011 8:15:11 PM PDT by GOPJ (126 people were indicted for being terrorists in the last two years. Every one of them was Muslim.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
Did any of these morons pretending to be Economists do the math?

$450,000,000,000 to create 1 million jobs? I cannot believe anybody is stupid enough to invest money with these idiots.

24 posted on 09/09/2011 8:17:29 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
Economists gave generally positive reviews to President Obama's jobs plan Friday, with some estimating that at least 1 million jobs could be added in the next year if the workers use spoons instead of shovels.
25 posted on 09/09/2011 8:17:37 PM PDT by Navy Patriot (Holy flippin' crap, Sarah rocks the world!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Drango

It is bullshit they are shoveling.


26 posted on 09/09/2011 8:18:46 PM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: MinorityRepublican
My economist agrees


27 posted on 09/09/2011 8:20:08 PM PDT by Raycpa
[ Post Reply | Private Reply | To 1 | View Replies]

To: Pearls Before Swine

Yep, they are only make work, temporary jobs. But look on the bright side, it will pay the salaries of the teacher’s union thugs, who will pass on the cash to the Rats.


28 posted on 09/09/2011 8:21:19 PM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: MinorityRepublican

we need to start saying

HELL NO!


29 posted on 09/09/2011 8:23:36 PM PDT by sten (fighting tyranny never goes out of style)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Bull Shiite Muslims.


30 posted on 09/09/2011 8:23:39 PM PDT by Recovering_Democrat
[ Post Reply | Private Reply | To 1 | View Replies]

To: garjog

Dems, Libs, Socialists do. :)

(Note tagline since 2004)


31 posted on 09/09/2011 8:23:46 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: MinorityRepublican

Would one of these “economists” happen to be Paul Krugman?


32 posted on 09/09/2011 8:25:06 PM PDT by Rocky (REPEAL IT!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
Price estimates the increased payroll tax holiday for workers by itself is likely to add between 750,000 to 1 million jobs, and that the new break on payroll taxes for employers could add an additional 100,000 to 200,000 jobs.

He added that gross domestic product, the broadest measure of the nation's economic activity, could get a 1.5 percentage point boost as well.

Excuse the smell folks, but I reached up my grommet and found the following economic data. At the end of the payroll tax holiday the 750,000 to 1 million jobs created will end along with another 600,000 currently existing jobs to boot, and that the end of the new break on payroll taxes for employers will cause those additional 100,000 to 200,000 jobs to end along with another 150,000 jobs that currently exist. And my data is just as good as this economist's data as it is from a similar source.

33 posted on 09/09/2011 8:27:39 PM PDT by 17th Miss Regt
[ Post Reply | Private Reply | To 1 | View Replies]

To: garjog

34 posted on 09/09/2011 8:29:28 PM PDT by Enterprise ("Those who can make you believe absurdities can make you commit atrocities." Voltaire)
[ Post Reply | Private Reply | To 16 | View Replies]

To: MinorityRepublican

“It didn’t work last time but it’ll work this time. Trust us!” - Obama’s “economists”. LOL!


35 posted on 09/09/2011 8:29:28 PM PDT by FlingWingFlyer (Only two things come out of the DemocRAT Party. Fears and Smears.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican
hehehe...yeah really...a million jobs... hehehe.
36 posted on 09/09/2011 8:32:59 PM PDT by hinckley buzzard
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

37 posted on 09/09/2011 8:41:13 PM PDT by Snickering Hound
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

I saw on our local news that there is $67 million in Obama’s new “jobs plan” for the local city school district (Buffalo NY)

Here is a typical, dysfunctional, blue-state/city district, that already spends $23,000 per student, is in a stranglehold of the teacher’s unions, and can barely graduate half of their students. Obama has made them eligible for this $67 million because they are “disadvantaged.”

I knew it before - but now I have proof. This “stimulus” is yet another bailout for Obama’s friends in unions and state Govt.


38 posted on 09/09/2011 8:51:12 PM PDT by PGR88 (I'm so open-minded my brains fell out)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

Even if this crapola were true, 1,000,000 is still not enough just to cover the population growth. Sheesh.


39 posted on 09/09/2011 8:51:16 PM PDT by sybilll
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

I hear that 750,000 of them are going to be created by continuing the payroll tax cut that already exists.


40 posted on 09/09/2011 8:51:46 PM PDT by Brilliant
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-68 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson