Moody's: Obama jobs plan will create 1.9 million jobs

Pay no attention to the man behind the curtain!

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Never forget, America.

 

Are you saying old people pay no taxes?

 

I'm saying many don't pay federal income taxes

 

Another vast pile of economic bile from an economist who has his head up Obama's buttocks and who’s less than stellar record of predicting has been 100% wrong so far:


Zandi’s Predictions For The Effects Of The First Stimulus Were Overly Optimistic, In Some Cases Twice As Optimistic As What Ultimately Occurred

In 2010, Mark Zandi And Alan Blinder Predicted That The Stimulus Would Increase Payroll Employment To 132.2 Million Jobs By The End Of 2011. (Mark Zandi and Alan Blinder, “How The Great Recession Was Brought To An End,” Moody’s Analytics, 7/27/10)

As Of August 2011, Payroll Employment Is At 131.1 Million. The Economy Would Need To Add Over 250,000 Jobs A Month To Meet Zandi And Blinder’s Prediction. (Bureau Of Labor Statistics, BLS.gov, Accessed 9/9/11)In August, The Economy Added Zero (0) Jobs. (Bureau Of Labor Statistics, BLS.gov, Accessed 9/9/11)In 2010,

Zandi And Bliner Predicted That Payroll Employment Would Grow At A Rate Of 1.4 Percent In 2011. (Mark Zandi and Alan Blinder, “How The Great Recession Was Brought To An End,” Moody’s Analytics, 7/27/10)

To Date, Payroll Employment Has Only Grown By A Rate 0.6 Percent In 2011. (Bureau Of Labor Statistics, BLS.gov, Accessed 9/9/11)In 2010,

Mark Zandi And Alan Blinder Predicted That The Economy Would Grow At An Annualized Rate Of 3.6 Percent In 2011 And 5.1 Percent In 2012. (Mark Zandi and Alan Blinder, “How The Great Recession Was Brought To An End,” Moody’s Analytics, 7/27/10)

Now, The Blue Chip Forecast For Growth In 2011 Is Just 1.8 Percent And 2.5 Percent In 2012. In Short, The Economy Is Expected To Grow Half As Rapidly As Zandi And Blinder Predicted. (Office Of Management And Budget, “Fiscal Year 2012, Mid-Session Review,” WhiteHouse.gov, 9/1/11)

Zandi And Blinder Predicted That In 2011 The Economy Would Be Adding 200,000 Jobs A Month “As The Economy Gains Traction.” “But by this time next year, the economy gains traction as businesses respond to better profitability and stronger balance sheets by investing and hiring more.

In the baseline scenario, real GDP, which declined 2.4% in 2009, expands 2.9% in 2010 and 3.6% in 2011, with monthly job growth averaging near 100,000 in 2010 and above 200,000 in 2011.” (Mark Zandi and Alan Blinder, “How The Great Recession Was Brought To An End,” Moody’s Analytics, 7/27/10)

http://www.gop.com/index.php/research/comments/off_the_mark

So what we are seeing is that Obama has learned absolutely NOTHING in the few short years he has spent this nation into a $1.6 trillion deficit and growing and $4 trillion additional debt and growing.

His failed $1 trillion (with interest) stimulus program did nothing to move the unemployment numbers or increase demand so now we are to believe that an additional $400 billion (which will be billed to the taxpayers) will now do the trick.

They say if you keep doing what you have always done expecting different results; you just might be retarded.

 

What about the tax hikes in Obamacare?

 

That's not what you said.

 

yup.....sure they pay taxes....but more importantly they have paid into the kitty for 40 years so I would say they deserve a break!

 

umm, no

it's called a "loaded cost" or what it takes to have that one employee, or in this case, good paying, taxpayer funded job. So, the $235,000 figure per good paying, taxpayer funded job is the correct figure to use.

That sure sounds stimulating to me.

Why not just have a lottery for the unemployed and mail them a tax free check of $150,000 and you could reach almost 3 million people. Now that would be stimulating and you could reach an extra 1 million people.

The job of those 3 miilion in exchange for the $150,000 stimulation would be to sign up new Democrat voters and work on the Obama campaign.


I find this thread to be quite stimulating

 

Government cannot create long term private sector jobs.

When are you going to realize that?

 

So let me get this right, the plan has not even been sent to congress or put out to the public for consideration and somehow they know how many jobs this so called plan will create? Call me naive but I am going to pass on this prediction.

It seems to me that economists are a joke, if this guy honestly believes he can predict a number on just the vague outlines provided by the speech it further reduces my opinion. I mean, what economic variables did he control for when making his assessment, did he factor in opportunity costs and the loss of economic growth from further debt? Whats his methodology. These are things I would like to know considering nobody has seen the real facts and numbers regarding the plan.

Junk in junk out

 

You are very correct, sec.

I hope we are talking about creating private sector jobs and not public sector jobs.

What most people don't realize is, for every Government job that is "created" the private sector must create at least NINE jobs to pay for it.

Here is how the math works. Taxes from each private sector worker go to pay at most 11% of the Government worker's salary and benefits. Therefore, it will take NINE private sector workers (100% divided by 11%) to pay for the salary and benefits of each NEW government worker.

The solution to this problem is obvious; we need to employ as few government workers as is economically and reasonably possible.

 

You prove my point. You equate spending money on infrastructure and education with "mailing $150,000 checks to unemployed people."

Come back when you've gotten back in touch with reality.

 

Rich people either create jobs - other than the teachers that Barry plans to give a lot of this money to - or invest in companies that create jobs.

Let's also remember that the money that Barry wants to hand out to the teachers is nothing compared to the money that the local governments can collect in property taxes if their local economies grow just a little.

Sending money taken from the private sector to teachers, who have failed us in the worst way for decades, only makes the problem worse and that is what Barry wants.

Barry is already off on his tax payer funded campaign. We can't afford this pink punk anymore. He should be impeached before he kills our economy completely.

 

This is what I've seen him do over and over. Load up the taxes and regs somewhere, and then crow over giving us a break from them somewhere else. That makes him look like a good guy, meanwhile he's stickin' it to us.
The net result is more taxes, more regs, and MORE GOVT.
That is a classic con artist. And a liar.

He's fooling some people but not all and certainly not ME.

His biggest advantage is this country is overrun by MORONS and they can vote.

THEY hurt us as much as he does.

 

again you are sadly mistaken. You avoid the loaded cost and jump all over my pointing out how silly stimulation is. So, if youa re ok with a loaded cost of $235k per good paying taxpayer funded job, then why not just mail checks to 3 million and hire them all as Obama campaign workers?


If I spent $100 and it created 5 jobs that is a cost of $20 per job. I don't care if $98 was spent on supplies.

With this rosey forecast, we're still looking at $235k for each good paying, taxpayer funded job.

In reality the cost will be more because we must pay interest on that $447Billion

 

Government can, however, support conditions that support private-sector jobs.

An educated populace, for instance.

Good infrastructure, for instance.

The knowledge that when things get really bad, government won't just let it all go in the tank: it will step in to mitigate the damage, and try to keep foolishness in one sector of the economy (say, housing or banking) from pulling down other sectors.

 

borrow and spend 400 million edit correction 400 billion for an estimated 2 million jobs, that's reality.

 

You are very correct, Trinnity.

I hope these people who voted for Obama last time don't vote this time!

How Obama Got Elected... Interviews With Obama Voters

[ame="http://www.youtube.com/watch?v=mm1KOBMg1Y8"]How Obama Got Elected... Interviews With Obama Voters - YouTube[/ame]

 

I guess youre going to have follow the conservation in the future to get clarification

 

...GO JELLO GUY GO!!!!!...that's the point, he isn't...



Kabuki Joe

 

well we are waiting....

 

that would be $447 Billion so the math is real and it is how you calculate loaded costs. 1.9 million is no doubt very optimistic. Maybe this is just to buy shovels because the last stimulation wasn't shovel ready.

 

I love terms like "top economist". Oh, he's a "top economist"? Interesting...on what basis is this person a "top economist"?

Anyway, these projections are all based upon totally unscientific Keynesian MODELS that are only valid if the ASSUMPTIONS underlying those MODELS are themselves valid. Until I see some actual scientific evidence - not stupid propaganda-laden Keynesian models - that government spending will result in net job creation, I will assume that it's nothing more than a farce.

 

oops my bad I said 400 million

same old Keynesian economics different day

 

Who knew when Obama mentioned "shovel ready" that those shovels were to dig graves for many Americans who would starve to death under his administration?

The Dow seems VERY UNIMPRESSED with Obama's latest spending plan.