What do you think of Obama's plan for creating more jobs?

[Jenna]

What do you think of Obama's plan for creating more jobs?

I don't think it's enough, but I think it will be better for the economy than the alternative of doing nothing.

Could President Obama's jobs plan work?

Independent experts answered Friday with a qualified yes.

The American Jobs Act would create jobs and help keep a struggling economy moving forward, several economists said. But they cautioned it wouldn't shift the nation's business gears into overdrive, and it offers modest benefits, given the head winds the economy faces.

As only a short-term stimulus plan, the American Jobs Act wouldn't address structural and external problems, such as the moribund housing sector and financial turmoil in Europe. And because the proposals' design is transitory, it makes them difficult to compare against broad economic plans.

Macroeconomic Advisers, a leading economic-forecast group, projected that Obama's plan "would give a significant boost to (the gross domestic product) and employment over the near term."

There's the rub. The plan aims to deliver only a short-term fix designed to keep the economy from falling back into recession.

Then there's the price tag, $447 billion. That would add to the sum that must be covered by a congressional deficit-reduction committee aiming to cut $1.5 trillion from federal spending over 10 years. Obama's plan counts on this panel to find almost $2 trillion in cuts.

Macroeconomic Advisers predicted the plan would raise GDP — the annual sum of all goods and services produced in the country — by 1.3 percentage points through 2012, resulting in 1.3 million more people employed. It estimated the plan would add 0.2 percentage point to growth in 2013.

More here:

Nation & World | Obama's job plan will help, economists say | Seattle Times Newspaper

Obama's speech here:

Full text: President Obama's jobs address - chicagotribune.com

[Rhino]

Let's see... tax the people that create jobs so they want to keep their workforce outside the country and then give MORE money to the people that'd don't have jobs.

I'm not an economics professor, but I'm pretty sure that's not going to create jobs. Maybe someone can explain it to me.

[lewisipso]

I'm not an economics professor, but I'm pretty sure that's not going to create jobs. Maybe someone can explain it to me.

Same here but I think you are onto something.

[Rhino]

What do you think of Obama's plan for creating more jobs?

I don't think it's enough, but I think it will be better for the economy than the alternative of doing nothing.

Oh, and Jenna, I respectfully disagree. I think doing nothing is exactly what the government should be doing with the free market.

[Jenna]

Let's see... tax the people that create jobs so they want to keep their workforce outside the country and then give MORE money to the people that'd don't have jobs.

Obama's jobs plan doesn't increase anyone's taxes; it actually cuts taxes. Below are the details:

Employees: Extension and expansion of a payroll-tax cut for all workers through 2012, a savings of $1,500 for a typical family. $175 billion
Businesses

Tax cuts: A 50 percent cut in the payroll tax for businesses with payrolls up to $5 million; a full payroll-tax holiday for additional wages resulting from hires or raises. $65 billion

Tax credits: Up to $4,000 for businesses that hire people unemployed for more than six months. $8 billion

Equipment: Extend a tax break that allows businesses to deduct the full value of new equipment. $5 billion

Unemployed: Continued assistance to millions who are receiving extended benefits, with extra aid to states that help the long-term jobless through training programs. $49 billion

Public works: Upgrade roads, bridges and schools. $105 billion

Local help: Assistance to help states and municipalities avoid laying off emergency personnel and teachers. $35 billion

Nation & World | Obama's job plan will help, economists say | Seattle Times Newspaper

[bayern]

Obama's jobs plan doesn't increase anyone's taxes; it actually cuts taxes. Below are the details:



Nation & World | Obama's job plan will help, economists say | Seattle Times Newspaper

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[Jenna]

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Spending cuts:

Then there's the price tag, $447 billion. That would add to the sum that must be covered by a congressional deficit-reduction committee aiming to cut $1.5 trillion from federal spending over 10 years. Obama's plan counts on this panel to find almost $2 trillion in cuts.

Nation & World | Obama's job plan will help, economists say | Seattle Times Newspaper