Does Obama have a "real" jobs plan or just more govt spending?

[Toddsterpatriot]

Your right! We've had 9% unemployment for near a decade now!

The word you want is "you're".

Bush holds the record for longest and WEAKEST period of job growth. To claim his policies were working is dishonest. People were spending money by using their homes as ATMs. That's the only reason we had any economic growth.

Bush holds the record for longest and WEAKEST period of job growth.

Obama will beat him for weakest, but with only one term, not for longest.

 

[CMike]

Obama is no different, so the answer is no. He has no plan other than Spending money.

And you think another round of stimulus is not a plan?

I guess it is a plan. It's just a very stupid plan

 

[Toddsterpatriot]

Yup. And you realize interest rates are at historic lows, right? If we can borrow at 2% and grow at 4%, why wouldn't we want to do that?

Obama dreams we could grow at 4%.

If Obama borrowed $600B and spent it on a real jobs program, GDP would grow by 4% just from that. That's basic math. The interest on that debt would be $12B a year for 10 years and we would get almost $9B of that just in the increase in tax revenue. Add in the drop in spending from not paying for unemployment and not paying for health care for the unemployed and we come out ahead.

And you DON'T want to do this. Why?

He's already going to borrow $1.5 trillion this year. Is that giving us 10% more growth?

And how do government created jobs get us out of paying for health care for the unemployed?

And I should TRUST your math, why?

 

[hellofromwarsaw]

Grand Illusion on TCM at 10PM **** Vive la France...

 

[hellofromwarsaw]

Tell me a depression austerity got us out of...man what a mess. We need DEMAND....CUSTOMERS...everyone's holding on to their money, record amounts for the rich, corporations, banks... but consumers? NICHT!

 

[The Rabbi]

According to WaPo, the plan is expected to include tax *cuts*, not increases. I think from a policy perspective a short-term jobs plan / stimulus has merits, but politically it depends on being seen as the first and not the second. I think the ideal policy would have short-term spending/tax incentives coupled to long-term deficit reduction measures.

I assume the reason the plan isn't released is because it isn't finished yet. It's not clear to me that waiting would provide any political benefit. I think you're setting the bar too high when your poll asks for "new ideas" -- any economic plan is necessarily going to rely largely on a mix of policy levers that have been pulled in various combinations in the past. I don't think anyone thinks Obama has hit upon some brilliant idea that is going to immediately fix the economy.

We have seen Obama's ideas of tax cuts. Temporary "targeted" cuts to select groups.
We have seen the results of those plans: increased deficits with no greater economic activity.

Anything that looks like more of the same is DOA in the House. And I have zero confidence he can do anything other than what he has done for the last 3 years.

 

[ShackledNation]

Yes, taking money from the private sector and then giving it back to them after it goes through layers of bureaucracy will create jobs...

 

[Toddsterpatriot]

Of course, to Pub dupe/Fox/Rushbots, the jobs bills Pubs are blocking NOW would be NEW...gd brainwashed morons...

BTW- Obama is working on it on Martha's Vineyard, shytteheads...


Newsvine - Small Business Jobs Bill BLOCKED By GOP
Small Business Jobs Bill BLOCKED By GOP ... republicans, gop, small-business, jobs, bill-blocked
wemustchange.newsvine.com/.../07/...jobs-bill-blocked-by-gop
BILLS THE REPUBLICANS HAVE BLOCKED - GOP
A bill that would have eliminated a tax break that companies get when they ship jobs overseas. Republicans blocked this, allowing companies to keep the tax break they ...
https://sites.google.com/site/gopagenda/bills
Why have Republicans blocked bills that would have created jobs?
Best Answer: Because that is their stated goal. To throw roadblocks in front of any good President Obama might accomplish. OBSTRUCTIONISTS.
answers.yahoo.com/question/index?qid=20110809123059AAVgJCC

A bill that would have eliminated a tax break that companies get when they ship jobs overseas.

Please explain this tax break you feel companies get. Be as detailed as you can. Thanks!

 

[The Rabbi]

Yes, taking money from the private sector and then giving it back to them after it goes through layers of bureaucracy will create jobs...

Actually it's worse.

Let's say you have a company like INtel, which has pretty good returns on invested capital. You increase their taxes/costs to pay for the program. That reduces their available investment income. You give the money to a company like Evergreen Solar, a cell maker that filed for bankruptcy after receiving millions in gov't "investment."
So you have punished winners, companies that make money, and rewarded losers, companies that lose money.
How is that a benefit to anyone but the politicians doling this stuff out?

 

[ShackledNation]

Yes, taking money from the private sector and then giving it back to them after it goes through layers of bureaucracy will create jobs...

Actually it's worse.

Let's say you have a company like INtel, which has pretty good returns on invested capital. You increase their taxes/costs to pay for the program. That reduces their available investment income. You give the money to a company like Evergreen Solar, a cell maker that filed for bankruptcy after receiving millions in gov't "investment."
So you have punished winners, companies that make money, and rewarded losers, companies that lose money.
How is that a benefit to anyone but the politicians doling this stuff out?

It wont.

 

[Immanuel]

I sincerely hope the plan does not include the word "hope". Change as in change of strategy might be acceptable, but "hope it changes" will not suffice.

Immie

 

[Rozman]

I think it's a sham now...The President is all smoke and mirrors.He will offer some BS plan that has big spending in it.The Republicans of course will reject it.He goes to the people and says the GOP doesn't want people to work,it's not my fault and the people cheer and re elect him...

 

[Remodeling Maidiac]

I heard today he is going to announce a plan for infrastructure jobs paid for from cuts to entitlements

 

[The Rabbi]

I heard today he is going to announce a plan for infrastructure jobs paid for from cuts to entitlements

Geddoutahere!
No one would be stupid enough to propose that.

Whhops, you're right. I googled this and found this article:
Obama jobs plan taking shape - Philly.com

Looks like "schools to nowhere", a multi- billion dollar plan to renovate old dilapidated schools. This one at least has the virtue of being "for the children."
Thats not the dumbest idea he's come up with, but it is in the top two.

 

[MeBelle]

Well a "new idea" could be

A permanent tax cut or tax break for corporations that close shops overseas and bring jobs here.

Close all loopholes for BIG business and use said money for tax breaks for new full time hires.

Freeze tax rates at current levels for the next 5 years.

Reconsider new EPA regulations.

Instead of giving out endless unemployment checks when you reach a certain point all future money is only good for retraining programs.

These are just a couple off the top of my head that would be considered "new ideas" that congress could debate. If I can come up with ideas on the spot why can't Obama?

How about a 20% cut across the board for everyone and everything! Period!
We are gonna feel the pain one way or another, lets just get it the heck over with!!

 

[NYcarbineer]

I can't believe that he hasn't released the details of his plan to the public. If he really had a legit plan wouldn't he want it known now so the public has time to put pressure on their congressmen while they are home visiting the people they represent?

On the contrary, I don't think his plan is anything more than stimulus and taxes. Neither of which will work any better than his last failed stimulus. This man is completely clueless.

His stimulus so far has been 3/4's tax cuts. Are you admitting tax cuts won't stimulate the economy?

 

[NYcarbineer]

I love it when people who insist that the government can't create jobs start complaining that the government isn't creating enough jobs.

 

[The Rabbi]

I can't believe that he hasn't released the details of his plan to the public. If he really had a legit plan wouldn't he want it known now so the public has time to put pressure on their congressmen while they are home visiting the people they represent?

On the contrary, I don't think his plan is anything more than stimulus and taxes. Neither of which will work any better than his last failed stimulus. This man is completely clueless.

His stimulus so far has been 3/4's tax cuts. Are you admitting tax cuts won't stimulate the economy?

It hasnt been anything like 3/4 tax cuts.
The tax cuts that were in the plan were temporary "targeted" tax cuts, which have been proven failures every time they are tried.

 

[Remodeling Maidiac]

Tax breaks that last for one or two seasons are not going to spur economic growth. Never have, never will. No one trusts Obama to do the right thing so I doubt jobs will grow anytime soon. I feel sorry for the unemployed. Thanks Obama

 

[kwc57]

Excuse me steelplate...I can not let this go without a response. The banks were absolutely urged by the federal government to show more equality as it pertained to their lending practices...not a race issue...but a community issue....and yes, race had a lot to do with it.
And the urging was not a simple "please do it"...it was more of a "do it or we will cite you for discrimination"....

As a settlement attorney (represents the lenders)....my wife watned me that the whole thing is going to collapse on us...she saw it over 8 years ago. She saw the applicatoions..the incomes.....the approvals......she saw the federal grants......and she knew it was coming.

Yet Barney Frank, despite being warned, didnt.

That is the part I dont understand.

Once again...the Glass/Steagal repeal that allowed the selling and reselling of derivatives and Subprime mortgages did more than any thing Freddie or Fannie did. It was profiteering and greed that collapsed the Banking sector. I am not saying that you don't have a point at all... just that you are trying to blame everything on one aspect and turn a blind eye towards the major contributors.

no no....dont get me wrong....

There was an opportunity for the whores to capitalize on an issue created by the government...and the whores did. I agree.

But that is why we have "committees"...to make sure government policies dont allow the whores to profit from mistakes that are created by the government policies.

Hey...the whores cant hurt you if you dont let them......but our government let us down....they forced a policy that opened the door for the whores....and they turned a blind eye as the whores capitalized.

I blame government. If you arent willing to oversee the mess you may make, then make dam sure you dont make the mess.

Well said. Most people seem to see government regulation as a good thing when it often is not. Regulations tend to put compaines at risk, cost them money and get in the way of making a profit. The company is left with finding other ways to make up that lost profit and that often mean loopholes. There is a reason lower income people are not property owners........they have low income. When you lend to them, it is a risky loan and the bank could lose. Force a bank to make that loan to be politically correct while holding over their heads that you will shut them down if they get into financial trouble and you get banks looking for other ways to make a profit within the regulations you saddle them with. Banks are businesses and businesses exist to turn a profit. Let them make sound business decisions and they will turn a tidy profit. Force them to make bad decsions and they will go out on a limb in order to stay in business. Not saying there isn't any fault or greed on some business people's part, but this situation was government made.