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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: 12018
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 # 7.

#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  


#7. To: Happy Quanzaa (#6)

Not one net new job since the 2000 Selection/9/11 Coup.

Source: Me....8D

“I still do not understand how a failure to pay (heavily indebted countries) can be avoided,” said Juhan Parts in German daily Financial Times Deutschland. “In a market economy, this should be an option. It is illogical to want to avoid this issue,” he added.

mcgowanjm  posted on  2011-09-10   8:54:24 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 7.

#8. To: All (#7)

MISH:

First, the obvious: Greece’s historically record bond yields have forced the markets to recognize and read the proverbial financial writing on the wall. Friday’s trading patterns seemingly prove (beyond a doubt?) now that, political and economic optimism aside, there’s little question Greece, for the first time in modern global-economic history (given the size and influence of Greece’s economy), is set to default.

What Wall Street’s missed up to this point, however, is the consistent stream of POLICY indicators that has been, since last year, signaling that there is no “saving grace” or economic “magic bullet” for Greece. The most recent and telling one: Bloomberg reports that “Germany Is Said to Prepare Plan to Assist Banks If Greece Defaults on Debt.” That’s right: the country most expected to save Greece (never mind, of course, Germany’s 83% debt-to-GDP ratio) is itself preparing itself for Greece’s impending drop into the economic abyss.

Read more: http://www.businessinsider.com/another-sign-greece-will-default-soon-2011-9#ixzz1XYOiIRjZ

And then the Sheeple are told that it's a Particular Race's Fault (Cue Happy Quanza's posts;}

And then they're told they'll be back by Xmas.

And then they walk into Hell...the end....;}

mcgowanjm  posted on  2011-09-10 08:56:41 ET  Reply   Untrace   Trace   Private Reply  


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