WaPo - "Mark Zandi: Obama plan would add 1.9 million jobs"

[TomCADem]

Even non-Democratic affiliated economists are agreeing that President Obama's job plan would improve employment and the economy.

http://www.washingtonpost.com/blogs/ezra-klein/post/mark-zandi-obama-plan-would-add-19-million-jobs/2011/09/09/gIQAAx9kEK_blog.html

Mark Zandi, chief economist at Moody’s Analytics, is frequently the go-to guy for both parties when it comes to analysis of various jobs proposals. So, what did he think of President Obama’s speech last night? Here’s the report: “The plan would add 2 percentage points to GDP growth next year, add 1.9 million jobs, and cut the unemployment rate by a percentage point.”

To be sure, Zandi is not totally smitten with the plan, arguing that it doesn’t adequately deal with the “ongoing foreclosure crisis and housing slump”—two things, he writes, that are “major impediments to the recovery.” On the bright side, it “would go along way toward stabilizing confidence, forestalling another recession, and jump-starting a self-sustaining economic expansion.”

The Wall Street Journal has some more reactions from economists on Obama’s proposals. Here are Goldman Sachs’ forecasters: “Thus, if enacted in its entirety, this proposal could shift the fiscal impulse in 2012 from -1.1% of GDP to +0.4% of GDP. However, it is not yet clear how congressional Republicans will respond to the proposal, and we are not changing any of our estimates at this time.” Those are some crucial caveats right there.

[Tarheel_Dem]

1. I hope we're putting the right amount of heat on our elected representatives. (nt)

[dkf]

2. Goldman Sachs is predicting a double dip?

“Thus, if enacted in its entirety, this proposal could shift the fiscal impulse in 2012 from -1.1% of GDP to +0.4% of GDP"

[Ian David]

3. Only 12 million more jobs to go! n/t

[DCBob]

4. Zandi has credibility from both sides and is seen as a straightshooter.

This is a major endorsement and could help this thing actually get passed... maybe.

[Exilednight]

5. Well, if this thing passes as is, then Obama better hope and pray that it creates a

minimum of 1.9 million jobs, if it doesn't then he will sink to all time record lows for job approval.