Sep 8, 2011

Obama's $447 billion jobs plan. Still DOA

Well, so far Obama is playing it predictably. He announced a $447 billion jobs plan and demanded that Congress pass it immediately, or else...

Or else what, Mr. President?

Or else, he'll cave in.

This is probably worse than the previous plan that was DOA.

Here's why.

The projected deficit came in about 20% lower, which accounts for at least the increased $147 billion than he was contemplating earlier.

Of the $447 billion, $250 billion are in tax incentives for small businesses. Good idea, but too small, considering that $4,000 in credit is to be earned for hiring the long term unemployed.

So, if you were an employer in a depressed economy, would you hire
  1. Someone who has not worked in a long time, possibly because she is too costly compensation-wise for her readily replaceable skill set? or
  2. Someone who is available at a cheaper compensation (perhaps more than $4,000 cheaper), with a similar skill set?

Some $80 billion in infrastructure spending, when we have a $2 trillion shortfall/backlog in our nation's infrastructure is simply not enough.

Watch as the Republican Tea Party opposes this, dismisses it as another spending spree, and this drags on before a cut occurs to make a small stimulus much smaller, and delays its fruit production which is projected to be anemic anyway.

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