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Obama plan would make small dent in jobless rate

Sat Sep 24, 2011 4:15 AM EDT
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Tom Raum, Associated Press
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WASHINGTON — Even if Congress passes President Barack Obama's jobs and tax plan right away the jobless rate will probably still hover in nosebleed territory for at least three more years.

The White House says the bill would produce 1.9 million new jobs in 2012. But that falls short of what's needed to put the economy back on track to return to pre-recession jobless levels of under 6 percent.

Today's unemployment rate is 9.1 percent.

The economy's persistent weakness has left 14 million people unemployed and more than 25 million unable to find full-time work.

Economists pretty much agree it will be a long road ahead no matter what Congress passes, and right now there's no common ground.

© 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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newwtricks

So, if we spend 447 billion we don't have, it will give 1.9 million people a job. Can't we just give 1.9 million people $ 50,000 dollars each and pocket the 352 billion difference? Oh, but wait, then it will look suspicious when 7 percent of the working total, (unions) get 100 percent of the money. Now I see why we have to spend 447 billion, to do what 9.5 billion will do, unions.

  • 3 votes
Reply#1 - Sat Sep 24, 2011 7:59 AM EDT
Ripley8

Obama plan would make small dent in jobless rate

and any con plan ( if they actually came up with one) has made no dents.

  • 1 vote
Reply#2 - Sat Sep 24, 2011 8:46 AM EDT
Lampell

and any con plan ( if they actually came up with one) has made no dents.

Which just goes to prove that governments, left or right arent very good at coming up with plans to create jobs in the private sector. They have been working on that one for over 200 years:)

  • 2 votes
#2.1 - Sat Sep 24, 2011 4:33 PM EDT
newwtricks

At least the "cons" haven't cost the nation an additional 4 trillion dollars and counting. Sometimes it is better to admit you don't know what to do, than to do what Obama has done.

  • 1 vote
#2.2 - Sat Sep 24, 2011 5:36 PM EDT
Reply
Stephenrb

Government should do every thing it can to create jobs. The more working Americans there are the more people paying taxes. The more people pay taxes the more money the government has. 447 billion is a good investment.

    Reply#3 - Sun Sep 25, 2011 1:07 AM EDT
    Lampell

    447 billion is a good investment.

    It might have been if all of the money was put into infrastructure spending, unfortunately a lot of the money is going to tax cuts, both ongoing and new ones. Of the 800 billion in the first stimulus only 100 billion went to infrastructure spending which is why its impact on jobs was almost non existent and temporary at best.

      #3.1 - Sun Sep 25, 2011 1:17 AM EDT
      Reply
      yahoo-account

      Love this article.

        Reply#4 - Sun Sep 25, 2011 9:32 PM EDT
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