According to a survey of economists, President Obama's Jobs Plan can prevent a return to recession:
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.
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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.
Bloomberg News
The Republicans must own any downturn or slow growth from failing to pass the American Jobs Act. They must pay for their obstruction of America, for their war on the middle class and jobs.
Chuck Todd predicts that this story will become a key White House talking point in selling the jobs plan. I would add that it’s going to be very interesting to see what happens if Congressional opponents of the plan, not to mention Dems who are reluctant to embrace it, are asked for comment on this story.
WaPo, The Plum Line, Greg Sargent
President Obama yesterday in a speech in Denver:
We’ve got a lot to do to make sure that everyone in this country gets a fair shake and a fair shot and a chance to get ahead. And that’s the number-one thing that I think about each and every day. Your lives, your opportunities -- that should be the number-one thing that every public servant in Washington is thinking about.
There’s so much that we could accomplish together if Washington can finally start acting on behalf of the people. (Applause.) We’ve got to get that city to stop worrying so much about their jobs and their careers and start worrying about your jobs and your careers. (Applause.)
And that’s why I sent Congress the American Jobs Act. Now, I know it’s kind of thick, but it boils down to two things: putting people back to work and putting more money in the pockets of working Americans. Every single thing in the American Jobs Act is the kind of proposal that’s been supported by Democrats and Republicans in the past. Everything in it will be paid for.
It’s been two weeks since I sent it to Congress; now I want it back. (Applause.) I want it back, passed, so I can sign this bill and start putting people back to work. (Applause.) I’ve already got the pens all ready, all lined up on my desk, ready to sign the bill. And every one of you can help make it happen by sending a message to Congress, a simple message: Pass this jobs bill. (Applause.)
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So my question to Congress is: What on Earth are you waiting for? Let’s get to work. (Applause.) Let’s get to work. Let’s get to work.
http://www.whitehouse.gov/...
The Republicans are at war with the American middle class. Don't take my word for it. Listen to President Obama:
And you know what? I’m positive -- I’ve talked to them, most wealthy Americans agree with this. Of course, the Republicans in Congress, they call this class warfare. You know what? If asking a millionaire to pay the same tax rate as a plumber makes me a class warrior, a warrior for the working class, I will accept that. I will wear that charge as a badge of honor. (Applause.)
The only warfare I’ve seen is the battle that’s been waged against middle-class families in this country for a decade now.
http://www.whitehouse.gov/...
It's time we fought back.