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Response to AtomicKitten (Original post)

Wed Oct 17, 2012, 08:14 PM

12. Mitt is an idiot. First of all,

the projection was based on a high rate of nearly 8 percent, projecting that the figure would drop to below 6 percent by this time.

Secondly, the rate climbed to about 10 percent in mid 2009. It's down to 7.8 percent.

What Mittwit isn't going to mention is the despicable idiots in his party who, along with him, have been rooting for failure and sabotaging the recovery effort.

The Jobs Program That Wasn’t

Macroeconomic Advisers on the American Jobs Act, proposed a year ago:

We estimate that the American Jobs Act (AJA), if enacted, would give a significant boost to GDP and employment over the near-term.

-The various tax cuts aimed at raising workers’ after-tax income and encouraging hiring and investing, combined with the spending increases aimed at maintaining state & local employment and funding infrastructure modernization, would:
-Boost the level of GDP by 1.3% by the end of 2012, and by 0.2% by the end of 2013.
-Raise nonfarm establishment employment by 1.3 million by the end of 2012 and 0.8 million by the end of 2013, relative to the baseline

Of course, it that had happened, Obama would be more or less a lock for reelection. Instead, having blocked the president’s economic plans, Republicans can point to weak job growth and claim that the president’s policies have failed.

http://krugman.blogs.nytimes.com/2012/09/08/the-jobs-program-that-wasnt/


In September 2011, Republicans blocked the American Jobs Act and up to 2 million jobs
http://www.democraticunderground.com/10021294027

Obstruct and Exploit

By PAUL KRUGMAN

Does anyone remember the American Jobs Act? A year ago President Obama proposed boosting the economy with a combination of tax cuts and spending increases, aimed in particular at sustaining state and local government employment. Independent analysts reacted favorably. For example, the consulting firm Macroeconomic Advisers estimated that the act would add 1.3 million jobs by the end of 2012.

There were good reasons for these positive assessments. Although you’d never know it from political debate, worldwide experience since the financial crisis struck in 2008 has overwhelmingly confirmed the proposition that fiscal policy “works,” that temporary increases in spending boost employment in a depressed economy (and that spending cuts increase unemployment). The Jobs Act would have been just what the doctor ordered.

But the bill went nowhere, of course, blocked by Republicans in Congress. And now, having prevented Mr. Obama from implementing any of his policies, those same Republicans are pointing to disappointing job numbers and declaring that the president’s policies have failed.

Think of it as a two-part strategy. First, obstruct any and all efforts to strengthen the economy, then exploit the economy’s weakness for political gain. If this strategy sounds cynical, that’s because it is. Yet it’s the G.O.P.’s best chance for victory in November.

- more -

http://www.nytimes.com/2012/09/10/opinion/krugman-obstruct-and-exploit.html


And once you take the effects of public spending on private employment into account, a rough estimate is that the unemployment rate would be 1.5 percentage points lower than it is, or below 7 percent — significantly better than the Reagan economy at this stage.

- more -

http://www.nytimes.com/2012/03/05/opinion/krugman-states-of-depression.html



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AtomicKitten Oct 2012 OP
liberal N proud Oct 2012 #1
AtomicKitten Oct 2012 #2
liberal N proud Oct 2012 #3
Avalux Oct 2012 #4
AtomicKitten Oct 2012 #5
LiberalElite Oct 2012 #11
AtomicKitten Oct 2012 #18
yellowcanine Oct 2012 #15
Cha Oct 2012 #20
AtomicKitten Oct 2012 #25
Firebirds01 Oct 2012 #6
Cosmocat Oct 2012 #7
exboyfil Oct 2012 #8
AtomicKitten Oct 2012 #9
exboyfil Oct 2012 #10
Cha Oct 2012 #21
exboyfil Oct 2012 #22
Cha Oct 2012 #27
LineReply Mitt is an idiot. First of all,
ProSense Oct 2012 #12
AtomicKitten Oct 2012 #17
former9thward Oct 2012 #13
AtomicKitten Oct 2012 #16
former9thward Oct 2012 #23
AtomicKitten Oct 2012 #24
Rosa Luxemburg Oct 2012 #14
NCLefty Oct 2012 #19
Tom Rinaldo Oct 2012 #26
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