What Do You Call a Jobs Bill That Begets No Jobs?: Caroline Baum
Date: 2011-10-14T08:29:35.670
Author: Caroline Baum
Editor note: When President Barack Obama “pivoted” to jobs a few months back (from what, the White House didn’t say), he said he was going to take his plan to rebuild the U.S. economy directly to the American people.
It’s a good thing, too, because Congress isn’t interested. Obama’s $447 billion American Jobs Act of 2011 was never going to see the light of day in the Republican-controlled House. The Senate gave it the thumbs-down this week, voting 50-49 to block the bill, well shy of the 60 votes needed
Teaser: The Obama administration can argue that the stimulus “created or saved” 3.5 million jobs, and that the economy would have been in worse shape without it, but those assertions can’t be tested or proved. ... If the stimulus had been successful, Obama wouldn’t be hawking version 2.0, with many of the same short-term incentives that didn’t fool those it was designed to help.
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View original artilce: http://www.bloomberg.com/news/2011-10-14/what-do-you-call-a-jobs-bill-minus-the-jobs-commentary-by-caroline-baum.html
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