House Passes $15 Billion Package For Job Creation

[sabra]

Source: CNBC/AP

Congressional Democrats on Thursday made headway on their top legislative priority—job creation—when the House of Representatives approved a $15 billion package of tax credits and highway construction.

The 217 to 201 vote gave Democrats a much-needed victory after weeks of delay caused by Republican tactics, a record-setting snowstorm and internal bickering.

More job-creation efforts are in the pipeline, House Speaker Nancy Pelosi said.

"Today's legislation is ... one key element of our agenda to get Americans back to work and strengthen our economy," Pelosi said on the House floor.

Read more: http://www.cnbc.com/id/35712396

[AllentownJake]

1. I'll have to read where this wonderful pocket change is going

Seeing that the stimulus bill created a job for what $400,000 a person, 15 billion could employ a small city for a year.

:rofl:

Seriously, the congress are a bunch of clueless fucks. Deep structural problems that need to be revised that will upset your donors, no amount of fake government spending bills will solve that.

[Oregone]

2. Some of it is tax cuts for profitable businesses in growing sectors that will hire/upgrade anyway

Hurray...lets toss the shareholders some money for doing what the businesses should anyway.

[No Elephants]

13. I can just imagine what hay the Republicans will create with those figures this season

and in 2012.

Geez, we have the model of what FDR did. Actual jobs got created. Actual things got done, from poster making to building bridges and court houses, to sprucing up national parks (no pun intended).

Why in heaven's name can't we follow that?

Let me guess: Democrats would rather pay $400K per job (at least--heaven only know what will actually happen ot the money) than be accused of being "big government" or "socialism."

So, they'll get accused of something else, like massive waste and inefficiency.

[twiceshy]

3. Sorry but I don't see this working.

For private sector jobs to be permanent they have to produce income over and above the cost of employment and the employer's other overhead. Since their is little or no marginal demand at this time for small businesses giving a $5000/per new employee incentive will not move businesses to hire.

More window dressing and not touching the real issues of corporate outsourcing to china/india, the loss of manufacturing jobs, and the collapse of our productive economy.

Well at least public sector jobs continue to blossom and their salaries ratchet up and up. We'll just have to suck it up to pay for them all.

P.S. My wife's from Peru and it looks better everyday. Not that I want to bail on all you poor suckers left holding the bag.

[Oregone]

5. "will not move businesses to hire"

That is a massive problem with the thinking here. Will that money really affect the bottom line? Will it make businesses with no profit, no demand, and no growth hire? Will businesses with demand, growth and profit hire anyway? How much bottom line will that really change for the companies on the cusp?

Id like to see a report when this latest boondoggle is over about what sectors are getting these breaks. Probably sectors already on the upswing. Private prisons. Repo companies. Itd be interesting to see how much of that money goes to profits and ends up in rich men's bank accounts.

[RUMMYisFROSTED]

4. Only $685B short of another package.

Priorities, after all.

[Oregone]

7. At least $15 Billion is enough to make you chuckle

Not sure if thats a good thing

[RUMMYisFROSTED]

10. True.

[truedelphi]

8. And after all, would we really want to live inside a Socialist

America?

I mean, unless it is Socialism for the too big to fail crowd.

[truedelphi]

6. bernanke and Gethner have handed out twelve to fourteen TRILLION

Dollars to their buddies on Wall Street.

Headlines trumpet how the TARP monies have been paid back, without mentioning that tax breaks allowed for the pay backs. (Wouldn't it be nice if we got tax breaks to pay off our mortgages?)

This really sucks.

Obama has squandered every single bit of momentum he came in with. He refuses to believe that he won because of the people whose thought patterns are considered off the edge. But statistically we add up. Most Republicans are frustrated. The number of frustrated Democrats now total sixteen percent of the overall population of voters. Combine those two groups and you do get more than enough people to vote in a Ron Paul, Kucinich ticket (or whomever.)

No nation exists today that is providing decent health care for its people, that is avoiding losing and expensive wars for oil and profit, and that offers low cost college and university monies without having more than two sold out, Fascistic parties. Without a viable third party is this nation, we are done and stick a fork in us.

[high density]

9. $15 billion in tax credits

Yeah we know from the Bush tax cuts that tax cuts and credits just fuel jobs like no tomorrow.

[No Elephants]

14. There will be a tomorrow. We just won't be able to afford it.

[truedelphi]

11. If people reading this think that 15 billion is something to crow about

Theyneed to wake up.

On another topic here on DU, it is being explained how the mid sized banks are now doing swaps with the Big Boys to the extent that the holdings of one bank get reduced by 80% - and that 80% is a gain for the Big Banksters.

One bank deal alone netted the Bigger Bank over 50 million bucks. And this is just one of many deals to come.

These losses are our losses, as taxpayers, because according to the provisions of TARP, we gave the Banks money and if they lost it, we lost it. But any bank that does well gets to keep the gains.

So the mid sized bank sets their loss up on our column, and the win goes on the column for the Big Banks.

Bravo American Democracy. When Americans wake up, don't be surprised if rather than being elected, there are some heads on pikes. It is not going to be a pretty picture.

Catherine Austin Fitts already talks about the level of anger in seminars she conducts. And her crowd attendees are all rather affluent. I mean, their anger is going to be nothing like the anger in the ghetto when food stamps and AFDC no longer are available because it has all gone to the big banks.

[Coyote_Bandit]

12. Oh Please

Temporary job creation at best. More money for big and well established businesses.

To bad the corporatists we have in office aren't willing to throw that cash out and make it available for small business creation and growth. That is exactly where most of those jobs that need to be replaced are going to have to come from. And the investment required to create a single job in this small business environment is much smaller.....

But then it really isn't about job creation. It's about keeping up appearances and fooling some of the people into thibnking this is a meaningful effort to create jobs. Yeah right.