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Thread: Obama Plan Would Boost GDP, Economists Say(edited)

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by j-mac View Post
    Does Mark Zandi, a proponent of Obama's first failed stimulus plan now speak for all economists?
    more importantly, why do people still listen to such discredited sources?


    here's one that might have a bit more - you know - actual impact:

    Employers Say Obama Jobs Plan Won't Spur Hiring

    woops?

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by AdamT View Post
    I think you forgot to include the link.
    Stocks Plunge 300 Points Following Presidents Speech

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by haymarket View Post
    we have been discussing this in another thread and I just want to get my stance on this clear - I would hope that Congress would pass the entire Obama plan as he described it last night. The nation needs it. However, I fear that the GOP will only extract from it the planks that Obama included as part of the compromise with them top get their support and will dump everything else that Obama and the Dems want. They will then claim that they did give the President some of what he requested and thus did indeed compromise. And Obama will be outmaneuvered yet again by the Republicans.
    None of this half a trillion goes to fix any of America's long term economic challenges. This seems like another payout to make numbers look a little better while he is running for re-election. If this was a republican plan you would call it shameful politics, but because it is called for by the your party's head you are all for it.

    How does this fix the economic woes in your state long term? You know very well it does not. Fix the foreclosure mess that impacts about 15% of our economy, fix our competitive stance so companies want to source jobs here versus Asia, put in a smart grid that is a long term fix to energy costs, find ways to use our natural gas reserves so we can import less oil.

    Won't you ever get tired of the "sugar high" temp fixes that both Bush and Obama have employed.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    From the article at the beginning of this thread:

    President Barack Obama’s $447 billion jobs plan would boost U.S. gross domestic product by as much as 2 percent in 2012, say economists at Goldman Sachs Group Inc., Moody’s Analytics Inc. and JPMorgan Chase & Co.
    In other words, the proposals, once drafted into legislation, would amount to a low multiplier stimulus. $447 billion is almost 3% of GDP (2011 Q2 figure). If the program would increase GDP by 2%, then the overall multiplier is about 0.7. Given its structure and past CBO assessments of multipliers tied to various spending/tax provisions, a multiplier lower than 1.0 appears reasonable.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by donsutherland1 View Post
    From the article at the beginning of this thread:



    In other words, the proposals, once drafted into legislation, would amount to a low multiplier stimulus. $447 billion is almost 3% of GDP (2011 Q2 figure). If the program would increase GDP by 2%, then the overall multiplier is about 0.7. Given its structure and past CBO assessments of multipliers tied to various spending/tax provisions, a multiplier lower than 1.0 appears reasonable.
    That also assumes all the money can be spent in 2012 which is unlikely. Further it does not mention that this "stimulus" would be for 2012, thus there would be an offsetting contraction in 2013 unless it is continued. That is what we are now seeing as the 2009 package is coming to an end.

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by haymarket View Post
    we have been discussing this in another thread and I just want to get my stance on this clear - I would hope that Congress would pass the entire Obama plan as he described it last night. The nation needs it. However, I fear that the GOP will only extract from it the planks that Obama included as part of the compromise with them top get their support and will dump everything else that Obama and the Dems want. They will then claim that they did give the President some of what he requested and thus did indeed compromise. And Obama will be outmaneuvered yet again by the Republicans.
    So tax cuts now create economic growth but only when presented by a liberal President? Interesting contradiction on the part of liberals. Then there are these tax cuts, cuts in FICA which funds a current underfunded SS fund. That is the plan you want passed in its entirety? More spending and less tax revenue, but only less SS/Medicare revenue? Wow, amazing how Obama can brainwash liberals!

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by 1Perry View Post
    If it raises the GDP, it's as best a temporary thing with drags on the economy to follow. Indeed cutting what we pay in to S.S. will perhaps allow people to spend a little more. But then S.S. goes even further in debt which then has to be made up somehow.

    Bernanke notes that the drag is high energy prices (caused by his inflationary QE programs) and debt. (Even a blind squirrel finds an occasional acorn). Nothing here addresses either of those problems.
    Take the hint, folks.

    Bernanke says high energy prices are in part a drag on the economy, get ready for the Keystone XL pipeline to be approved.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by cpwill View Post
    more importantly, why do people still listen to such discredited sources?


    here's one that might have a bit more - you know - actual impact:

    Employers Say Obama Jobs Plan Won't Spur Hiring

    woops?
    It's a good article, but it doesn't exude such gloom and doom as you'd like readers to believe.

    There are mixed reactions to the President's jobs proposal. Some employers say the plan could work for them, others are 50/50 and still others say it won't help them one bit. But what you gleen from the article is this: At least employers are thinking of ways the plan could work for them. At least employers recognize that the plan would work best in certain industries, i.e., construction, pharmaceuticals, health care, education. At least employers are saying the see some merit to the President's jobs proposal. It may not put 8,000,000 people back to work but it it can take even 1/4 of the unemployed or under-employed off the federal dole and increase GDP, I can get behind that.

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by Conservative View Post
    So tax cuts now create economic growth but only when presented by a liberal President? Interesting contradiction on the part of liberals. Then there are these tax cuts, cuts in FICA which funds a current underfunded SS fund. That is the plan you want passed in its entirety? More spending and less tax revenue, but only less SS/Medicare revenue? Wow, amazing how Obama can brainwash liberals!
    No one has ever denied that tax cuts are stimulative. But it is one thing to use them for short-term stimulus and another thing entirely to employ them long-term without paying for them.

    It's also true that tax cuts aren't the most effective form of stimulus, but they are most likely the only form of stimulus that republicans will support.

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by Conservative View Post
    So tax cuts now create economic growth but only when presented by a liberal President? Interesting contradiction on the part of liberals. Then there are these tax cuts, cuts in FICA which funds a current underfunded SS fund. That is the plan you want passed in its entirety? More spending and less tax revenue, but only less SS/Medicare revenue? Wow, amazing how Obama can brainwash liberals!
    Wasn't it yourself and others who taunted "the multiplier effect" on the economy when more people are working you have more people not only generating more income tax revenue but also paying into SS?

    Wasn't it yourself and others who said tax cuts generate job growth?

    Wasn't it yourself and others who claimed that if you allow businesses and business owners to keep more of what they earn they'll put that money back into their business to grow and expand their business?

    You can't have it both ways, Conservative.

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