|
|
"A comprehensive, collaborative elections resource."
|
Trim to Stimulus Carves Into Goals For Job Creation
|
|---|
| Parent(s) |
Issue
|
| Contributor | ArmyDem |
| Last Edited | ArmyDem Feb 13, 2009 10:28am |
| Logged |
0
|
| Category | News |
| Media | Newspaper - Washington Post |
| News Date | Friday, February 13, 2009 04:00:00 PM UTC0:0 |
| Description | By Lori Montgomery
Washington Post Staff Writer
Friday, February 13, 2009; Page A06
For months, President Obama has been selling his economic stimulus package as a jobs bill that would spare the nation from a frightening spike in unemployment. Asked Monday at his first White House news conference how he would measure the success of the initiative, Obama replied: "My bottom line is, are we creating 4 million jobs?"
But congressional negotiators have since trimmed billions of dollars from the package to satisfy Senate Republicans, diminishing its potential for job creation along with its overall cost. With the House poised to vote as early as today on the measure, analysts are slashing their estimates of its ability to counteract a deepening recession, with several prominent economists now saying the package will save or create fewer than 2.5 million jobs by the end of next year.
At $789 billion, the final package "is just not going to pack the same jobs punch" as some earlier versions, which cost as much as $100 billion more, said Mark Zandi, chief economist of Moody's Economy.com, whose analyses have been cited by White House officials as well as congressional Democrats. Zandi estimates the measure will create only about 2.2 million jobs by the end of 2010, leaving unemployment hovering around 10 percent and probably forcing lawmakers to undertake another stimulus plan. |
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
