Zandi: Obama plan will cut unemployment 1%
Zandi advised the presidential campaign of Republican John McCain, but he is a registered Democrat in Pennsylvania.President Obama's jobs proposal would help stabilize confidence and keep the U.S. from sliding back into recession.
The plan would add 2 percentage points to GDP growth next year, add 1.9 million jobs, and cut the unemployment rate by a percentage point.
The plan would cost about $450 billion, about $250 billion in tax cuts and $200 billion in spending increases.
Many of the president's proposals are unlikely to pass Congress, but the most important have a chance of winning bipartisan support.
President Obama’s much-anticipated jobs plan is a laudable effort to support the struggling economy. The plan would go a long way toward stabilizing confidence, forestalling another recession, and jump-starting a self-sustaining economic expansion.
Comments
Zandi on the first stimulus (which he claimed was WORKING and ENDED the recession)
http://www.projo.com/opinion/contributors/content/CT_zandi13_08-13-10_FQJFENP_v12.2984082.html
If it WORKED why do we need a 2nd one?
Posted by: db | September 9, 2011 11:28 AM
You realize we're not currently in a recession, right? The Bush recession ended in 2009. A recession is a minimum of 2 quarters of negative growth in the GDP. The growth rate since mid-year of '09 has been between 1 and 4%.
Posted by: Eric | September 9, 2011 3:35 PM
Macroeconomic Advisers agrees with Zandi: http://bit.ly/rtMwbV
Dean Baker is not terribly impressed with either Zandi or Macroeconomic Advisers: http://bit.ly/nxwzXY
Posted by: Stuart Levine | September 10, 2011 1:45 PM