Obama Says Stimulus Package Creates 4 Million Jobs

[maseman]

Source: Bloomberg

Jan. 10 (Bloomberg) -- President-elect Barack Obama said his two-year plan to boost the U.S. economy will generate as many as 4 million jobs, higher than his previous estimates, the biggest portion of them in construction, manufacturing and retail.

The plan would also result in the U.S. gross domestic product increasing by 3.7 percent more by the end of 2010 than it would without the stimulus, according to a study compiled by Obama’s economic advisers. The study gives a forecast based on a package of spending and tax cuts totaling “slightly over” the $775 billion that has been discussed by the transition team with members of Congress.

(snip)

“The jobs we create will be in businesses large and small across a wide range of industries,” Obama said in his weekly radio address today. “And they’ll be the kind of jobs that don’t just put people to work in the short term, but position our economy to lead the world in the long-term.”



Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aeM0SBSSvyYY&refer=home

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Good. Get moving ASAP. I think one way a rebound can happen is simply if some confidence is restored in both government and in actual spending. Even if Obama can help slow the job losses it would boost confidence.

[Deja Q]

1. This is excellent news!

K & R

[marketcrazy1]

2. good luck

I hope he is right, not holding my breath!!!

[northernlights]

3. it takes more than hope

it takes naysayers getting out of the way. Or ever better, getting off their sorry butts and helping.

The parting administration did more than run our country off the road and into a ditch. We've got 2 or 3 wheels hanging over the side of a cliff.

So marketcrazy1, either lead, follow, or get the fuck out of the way. Change is coming.

[maseman]

4. Nice optimism

Maybe curling up in the fetal position and sucking your thumb would be better.

[Phred42]

5. Hope he's correct - but I'm not holding my breath.

The Reich WANTS and NEEDS Obama to fail, as miserably as they can possibly make it happen.

We are at war for the life of democracy and America as we have known it.

If those that created this collapse do not go to jail and forfeit their holdings - democcracy and the American People will lose - by default

[uppityperson]

6. I'd like to see something included for people in my category, self employed with no employees.

I'd like to figure out how to continue my business rather than joining those looking to become employees. Yes, helping those who have employees is very important, and helping those who are employed is very important, but helping those of us who are self employed without employees also is important.

And yes, get moving asap.

[Regret My New Name]

7. How many jobs have been lost in the past year?

even the just the past few months?

[boomerbust]

8. 2.2 million jobs

Gone in the last 12 months.

[Robbien]

9. Bush kept claiming that each of his tax cut plans would also create many jobs

If Obama doesn't want us to think this is all deja vu then he shouldn't be following Bush's standard operating procedure of throwing out multi-billion dollar tax cuts and then declaring the plan will create jobs.