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Title: Jobs plan may create 1 million jobs - economists
Source: CNN Money
URL Source: http://money.cnn.com/2011/09/09/new ... ama_jobs_plan_impact/index.htm
Published: Sep 9, 2011
Author: CNN Money
Post Date: 2011-09-09 20:56:59 by go65
Keywords: None
Views: 12097
Comments: 30

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."

Mark Zandi, chief economist for Moody's Analytics, is even more bullish, forecasting a 1.9 million job boost and a 2% lift for GDP if the package is passed as proposed.

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Begin Trace Mode for Comment # 29.

#5. To: go65 (#0)

Jobs plan may create 1 million jobs - economists

For $450 BBBillion, that costs only $450,000 to create each job.

nolu chan  posted on  2011-09-10   0:24:33 ET  Reply   Untrace   Trace   Private Reply  


#6. To: nolu chan, go65 (#5)

For $450 BBBillion, that costs only $450,000 to create each job.

Leave the boy alone, you'll confuse him with numbers. That's why Liberal Arts degrees have little or no math requirements. Leftists are so mathematically "challenged" they need to take their shoes off if they need to count to 20. Don't ask one to count to 21 or he'll have to drop his pants.

Except maybe a hot lib chicky, ask her to count to 22 and you get to see her teats.

Happy Quanzaa  posted on  2011-09-10   5:51:27 ET  Reply   Untrace   Trace   Private Reply  


#10. To: Happy Quanzaa, nolu chan (#6)

Leave the boy alone, you'll confuse him with numbers. That's why Liberal Arts degrees have little or no math requirements. Leftists are so mathematically "challenged" they need to take their shoes off if they need to count to 20. Don't ask one to count to 21 or he'll have to drop his pants.

since when do Conservatives believe that there's a "cost" associated with tax cuts (more than $200 billion of Obama's plan are tax cuts).

go65  posted on  2011-09-10   9:10:08 ET  Reply   Untrace   Trace   Private Reply  


#11. To: go65 (#10)

So it's only 250,000 dollars per job?

no gnu taxes  posted on  2011-09-10   9:18:22 ET  Reply   Untrace   Trace   Private Reply  


#12. To: no gnu taxes (#11)

How much does a private business invest before it hires more people and I'm not talking Joe The Plumber picking up 2 illegals [sic] as day laborers? Or do they just hire them for free?

BTW, IMHO, you CANNOT have a "jobs" program unless the issue of hiring the undocumented as well. As we have seen, the companies screaming the most about being "burdened" are the ones so hiring...

war  posted on  2011-09-10   9:35:17 ET  Reply   Untrace   Trace   Private Reply  


#13. To: war (#12)

How much does a private business invest before it hires more people

It could be nothing. But you're talking apples and oranges. Capital expenditures and labor expenditures are not necessarily that correlated.

no gnu taxes  posted on  2011-09-10   10:24:16 ET  Reply   Untrace   Trace   Private Reply  


#15. To: no gnu taxes (#13)

Capital expenditures and labor expenditures are not necessarily that correlated.

yet here you are making that correlation....

Dumb Dumb gave a trillion odd to the wealthy in 2001 and 2003...how many of the promised jobs did that create by the time he had left office?

war  posted on  2011-09-10   12:05:23 ET  Reply   Untrace   Trace   Private Reply  


#16. To: war (#15)

President Bush gave tax cuts to everybody, and the share of the tax burden to the wealthy actually went up. Why do you continue to play these leftard games?

no gnu taxes  posted on  2011-09-10   12:10:23 ET  Reply   Untrace   Trace   Private Reply  


#17. To: no gnu taxes (#16) (Edited)

....and the share of the tax burden to the wealthy actually went up

Bullshit. And I've seen your phoney links and stats so don't bother...

But you didn't answer the question.

How many jobs were created?

war  posted on  2011-09-10   12:22:38 ET  Reply   Untrace   Trace   Private Reply  


#18. To: war (#17)

How many jobs were created?

Many until the Dim caused housing crisis destroyed the economy in 2008.

no gnu taxes  posted on  2011-09-10   12:28:45 ET  Reply   Untrace   Trace   Private Reply  


#19. To: no gnu taxes (#18)

Many until the Dim caused housing crisis destroyed the economy in 2008.

ROFLMAo...riiight...the "dims" controlled HUD in 2003...

BTW, Padlock, you want me to post how you were promoting Dumb Dumb's economy in 2006 and 2007 when I was warning you it was about to turn to shit...?

war  posted on  2011-09-10   13:19:42 ET  Reply   Untrace   Trace   Private Reply  


#20. To: war (#19)

This is getting like deja vu. Want me to give you again the mountains of evidence the Dims CRA and prostituting the GREs caused the problem?

no gnu taxes  posted on  2011-09-10   14:28:15 ET  Reply   Untrace   Trace   Private Reply  


#21. To: no gnu taxes (#20) (Edited)

Want me to give you again the mountains of evidence the Dims CRA and prostituting the GREs caused the problem?

You mean the ones I debunked time and time again?

ONCE AGAIN, moron, CRA loans a) PERFORMED and b) did not comprise a big enough total to cause the problem. On that last point you were challenged EVERY time and you FAILED every time to quantify the dollar value of CRA loans in default. It was also pointed out to you NUMEROUS times that CRA loans are loans made in a specific neighborhood rather than to specific borrowers.

As for the GSE's, they could only buy what HUD authorized them to buy. Prior to 2003, the type of sub-prime loan that was eligible for purchase were fully documented fixed rate loans. AFTER, 2003, HUD authorized them to buy paper as risky as floating rate "liar" loans.

war  posted on  2011-09-10   16:00:13 ET  Reply   Untrace   Trace   Private Reply  


#22. To: war (#21)

ONCE AGAIN, moron, CRA loans a) PERFORMED and did not comprise a big enough total to cause the problem

No. The CRA loans were the match that started the fire, moron. There was never any of the problems before them. Even institutions that weren't under CRA always had these lending standards "sword of damocles" over their heads. And then there was the extensive secondary markets for CRA loans. Get it through your head that these problems never would have occurred without the CRA and the Democratic Party corruption in the management of the GSEs.

no gnu taxes  posted on  2011-09-10   16:24:46 ET  Reply   Untrace   Trace   Private Reply  


#26. To: no gnu taxes (#22)

No. The CRA loans were the match that started the fire, moron.

You've provided no evidence that CRA loans were even anywhere NEAR the fire let alone were "the match that started" it.

Again, this would be where you provide some numbers. Again, I'll wait.

war  posted on  2011-09-10   17:41:51 ET  Reply   Untrace   Trace   Private Reply  


#27. To: war (#26)

I'll wait for some evidence that anything like what happened had shown any propensity for happening before the first black President's aggressive enforcement of the CRA in the mid 90's.

Yeah, NINJ loans were just standard practice in the 80s, right?

no gnu taxes  posted on  2011-09-10   17:51:58 ET  Reply   Untrace   Trace   Private Reply  


#28. To: no gnu taxes (#27)

Again, this would be where you provide some numbers. Again, I'll wait.

war  posted on  2011-09-10   17:53:52 ET  Reply   Untrace   Trace   Private Reply  


#29. To: war (#28)

Come on wally,

Policy often transcends numbers, because you don't what the numbers would be otherwise unless you just make them up (which people in your business and Party routinely do).

And the CRA institutions did not operate in a vacuum as you would suggest.

So explain, why did these problems not exist before sinkboy's blunder in the mid 90's?

no gnu taxes  posted on  2011-09-10   18:03:48 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 29.

#30. To: no gnu taxes (#29)

You've provided no evidence that CRA loans were even anywhere NEAR the fire let alone were "the match that started" it.

Again, this would be where you provide some numbers. Again, I'll wait.

war  posted on  2011-09-12 08:55:13 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 29.

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