Economists: Pass the Obama Jobs Bill, No Recession; Do what the GOP wants, Recession Guaranteed.
From Bloomberg:
President Barack Obama’s $447 billion jobs plan would help avoid a return to recession by maintaining growth and pushing down the unemployment rate next year, according to economists surveyed by Bloomberg News.
Indeed, while the economists surveyed are not in agreement on how many jobs and how much growth will be produced, they are in agreement that it will do both. Moody’s Analytics estimated that the plan would boost economic growth by 2 percentage points and create 2 million jobs. Goldman Sachs Group Inc. estimated the plan would add 1.5 percent growth to the economy, Macroeconomic Advisers LLC said 1.3 percent and UniCredit Research, up to 2 percent.
So if you pass the President’s plan, you avert a recession. If you don’t, you are responsible for it. And if you pass the Republican plan, which includes severe cuts in government spending, the end of the payroll- tax holiday and an expiration of extended unemployment benefits, you would actually cause a recession by those actions alone. JPMorgan Chase & Co. chief U.S. economist Michael Feroli estimates that those actions would would cut GDP by 1.7 percent in 2012.
Tell this to the carpetbagger Tom Carper. Do you all get his “newsletter”. Got mine today. His talk of “traveling up and down the state TALKING to the voters, and then discusses the places he has been. Not were the voters are but some good PR for himself.
He is not talking about Obama’s Job plan! He wrote, “I have been working to get the private sector jobs”. Huh! Not supporting the Obama Jobs Program, Mr. Bagger! Please if you democrats are serious about having real representation in the Senate for Delaware, we must dump this corporate shitbag.
http://front.moveon.org/the-elizabeth-warren-quote-every-american-needs-to-see/ Obama should heed this betty got the B##LS
It’s not because of a GOP filibuster either.
Senate Majority Whip Dick Durbin (D-Ill.) said that, at the moment, Democrats don’t have the votes to pass President Obama’s jobs bill, but Durbin added that that would change.
“Not at the moment, I don’t think we do but, uh, we can work on it,” Durbin said according to Chicago radio station WLS…
“The oil-producing state senators don’t like eliminating or reducing the subsidy for oil companies, “Durbin said. “There are some senators who are up for election who say I’m never gonna vote for a tax increase while I’m up for election, even on the wealthiest people. So, we’re not gonna have 100% Democratic senators. That’s why it needs to be bi-partisan and I hope we can find some Republicans who will join us to make it happen.”
Is this news? We knew on Sept. 14 that Democrats were leery of the bill when Reid insisted that they had other business to handle before taking it up. Two days later, we found out that Senate Democrats spent an hour and a half griping about the bill to White House aides in a meeting. Five Democrats — Begich, Webb, Landrieu, Mikulski, and Casey — were specifically named as opponents. Three days after that, Durbin told CNN not to expect any action on it until October at the earliest, a prediction that’ll end up being proved right. To the extent that his latest comments are “news,” it’s for two reasons. One: Despite having had two weeks to convince his own party’s congressional caucus to rally behind him on this extremely prominent measure, Obama’s still up shinola creek.
Since it will never pass the House, it doesn’t really matter what happens in the Senate.
And if the Democrats did have the votes, the GOP would filibuster it.