American Jobs Act Will Create Jobs, Say Top Analysts

[Schneibster]

Including Moodys' chief economist and the non-partisan Economic Policy Institute. Moody's says 1.9 million; the EPI, 4.3 million.

EPI notes that the job deficit is about 11 million, which means this only fixes between a third and half of the problem; but it's better than a poke in the eye with a sharp stick.

Brad DeLong is teaching a class at the moment, and hasn't commented substantively yet.

Krugman is in Russia, at an economic conference, but got a copy under a publishing embargo before the speech, so he could write a column and have it in the Times today. He likes it, and it is "bigger and bolder than I expected," then says as expected it's only part of the job, and then bashes the Republicans for trying to get the nigger out of the White House again. Nice bash, too; a little restrained. Very classy.

Reich thinks it's a good start and that Obama won the initial skirmish, but it's too small, and he should have asked for what is really needed and campaigned on not getting it. I think that's simplistic. I also think it ignores the suffering that will be alleviated if any of this passes; that means Obama put the people above his desire for a second term, and I think he'll get cred for that.

[Schneibster]

The article on Moody's also contains mention of JP Morgan Chase and Goldman Sachs; my original source was librul and didn't mention either of them

[Gawdzilla Sama]

Just so long as they don't create one for me.

[Schneibster]

The Daily Beast has a pretty good roundup of economics sources, most of which is positive.

[Gawd]

American idiocy once again prevails. The "Jobs Act" is nothing more than spending $450 billion dollars that they don't have, further increasing the deficit at a time when it was promised to get spending under control. Gee, lets borrow another $3 trillion next year just so that you can pay the interest on the money you owe!

[Ian]

[Gawdzilla Sama]

[Atheist-Lite]

Gawd is right. You should listen to him.

[Gawdzilla Sama]

Gawd is right. You should listen to him.

I should have remembered that it's better to do nothing than something.

[Ian]

Gawd is right. You should listen to him.

Can I put this in my signature?

[Seth]

American idiocy once again prevails. The "Jobs Act" is nothing more than spending $450 billion dollars that they don't have, further increasing the deficit at a time when it was promised to get spending under control. Gee, lets borrow another $3 trillion next year just so that you can pay the interest on the money you owe!

Wow! We actually agree on something. Amazing.

This is Keynesian economics at it's finest. Try to sell the fiction that redistribution of wealth creates wealth.

Here's a little math: That "spending" of 450 billion dollars requires the collection of at least 550 billion dollars (if not more) from taxpayers in order to pay the overhead of spending that money "creating jobs." The extra 100 billion dollars (or more) goes to the bureaucrats in Washington and as interest on the debt we incur by borrowing the money. Since it all has to come out of the very pockets of the people they are supposedly putting to work (it hasn't worked so far, and there's no reason to believe it'll work this time) it's still a net loss of at least 100 billion dollars.

Obama's just hoping to push the next economic collapse, the one that occurs when we can't pay for THIS deficit spending, down the road to the next administration, or at least till after the election. He hopes to be able to use his "jobs program" as a way to garner votes for a second term without regard to the effects on the economy when the chickens come home to roost after he's been elected as a lame-duck President.

[Gawd]

Gawd is right. You should listen to him.

Can I put this in my signature?

I have a 135 IQ, you should actually listen to me instead of trying to side step everything.

[Gawd]

American idiocy once again prevails. The "Jobs Act" is nothing more than spending $450 billion dollars that they don't have, further increasing the deficit at a time when it was promised to get spending under control. Gee, lets borrow another $3 trillion next year just so that you can pay the interest on the money you owe!

Wow! We actually agree on something. Amazing.

This is Keynesian economics at it's finest. Try to sell the fiction that redistribution of wealth creates wealth.

Here's a little math: That "spending" of 450 billion dollars requires the collection of at least 550 billion dollars (if not more) from taxpayers in order to pay the overhead of spending that money "creating jobs." The extra 100 billion dollars (or more) goes to the bureaucrats in Washington and as interest on the debt we incur by borrowing the money. Since it all has to come out of the very pockets of the people they are supposedly putting to work (it hasn't worked so far, and there's no reason to believe it'll work this time) it's still a net loss of at least 100 billion dollars.

Obama's just hoping to push the next economic collapse, the one that occurs when we can't pay for THIS deficit spending, down the road to the next administration, or at least till after the election. He hopes to be able to use his "jobs program" as a way to garner votes for a second term without regard to the effects on the economy when the chickens come home to roost after he's been elected as a lame-duck President.

That's exactly what Obama is doing. The deficit reduction plan he signed into law is targeted for 10 years with absolutely no concrete goals along the way or even what exactly will be reduced. Obama has no idea in hell where he is going to reduce spending.

[Seth]

Gawd is right. You should listen to him.

Can I put this in my signature?

I have a 135 IQ, you should actually listen to me instead of trying to side step everything.

Just because you might (and I emphasize the "might") have a high IQ doesn't mean you're always (or ever) going to be right about anything.

[Ian]

Gawd is right. You should listen to him.

Can I put this in my signature?

I have a 135 IQ, you should actually listen to me instead of trying to side step everything.

OMFG, stop bragging about your friggin' IQ already. Mine is higher.
And a decent IQ score doesn't mean you know what the hell you're talking about just because you're able to pull an opinion out of your ass. Care to discuss your ideas for combating Indian Ocean piracy again?