Economists are weighing in on the American Jobs Act, and they agree that President Obama’s plan will grow the economy and create jobs:
“President Barack Obama’s $447 billion jobs plan would help avoid a return to recession by maintaining growth and pushing down the unemployment rate next year, according to economists surveyed by Bloomberg News.”
“The legislation, submitted to Congress this month, would increase gross domestic product by 0.6 percent next year and add or keep 275,000 workers on payrolls, the median estimates in the survey of 34 economists showed. The program would also lower the jobless rate by 0.2 percentage point in 2012, economists said.”
“The plan ‘prevents a contraction of the economy in the first quarter’ of next year, said John Herrmann, a senior fixed-income strategist at State Street Global Markets LLC in Boston, who participated in the survey.”
“Some 13,000 jobs would be created in 2013, bringing the total to 288,000 over two years, according to the survey. Employers in the U.S. added 1.26 million workers in the past 12 months, Labor Department data show.”
But we weren’t able to find these economists’ estimates for how the Republican jobs plan would boost the economy – probably because Republicans still don’t have a comprehensive jobs plan.
The American Jobs Act is fully paid for, incorporates bipartisan ideas, will create jobs and grow our economy now. There’s no reason why Republicans shouldn’t take action on this bill, and since they don’t have a jobs plan of their own, we hope they’ll abandon their partisan agenda and work with us to help put more Americans back to work.