Take the stimulus bill, make it about half as big, and you get a jobs bill?

[jpgray]

I don't think that's how it works.

The unemployed need benefits, states need money, infrastructure needs fixing; but only the very last of these has an immediate effect on jobs, and it represents less than an eighth of the bill's price tag. The rest reduces the misery of not having a job and saves many jobs, respectively, but it's another example of a "bold" bill being stuffed with measures any responsible Congress would have passed long ago--in that scenario a jobs bill could be all killer no filler.

Tax cuts and credits make up the remainder, so far as I can tell. The employer payroll tax cut, for one, makes little sense to me insofar as it is poorly targeted--if I understand it, the first $5 million of -any- company's payroll has its assessed tax halved. Does Apple need more than its $76 billion currently on hand? Likewise some employees really do not need the holiday on their first $106,800.

It may be necessary to avoid targeted tax cuts, but that seems a good argument for spending to hire, rather than cutting taxes in the hope that the kept money will be spent in ways conducive to hiring. Remember that a crisis in demand, de-leveraging, etc. basically means consumers paying down debt and large employers hoarding money in lieu of a solid place to invest. It isn't clear that providing more money will preclude these behaviors and produce a stimulative effect.

Hiring people directly would. Again there are useful provisions in this bill, but it recalls the stimulus in that the measures that may put people immediately to work are a very small portion of the whole. But this one is a jobs bill?

[Autumn]

1. I heard someone call it old wine in new bottles

it made sense to me.

[FarLeftFist]

2. The American people can't wait any longer. Let's try SOMETHING!

[MichiganVote]

The unemployed need jobs WITH benefits from employers.

[AmericaIsGreat]

3. Yeah, it's mostly tax cuts/credits

With a small bit for infrastructure.

You're exactly right, and that's exactly the problem with the proposal.

I don't even care at this point. Sure, give more tax cuts, why not? They're not adding much to a 14 trillion debt.

It's something, at least

[immoderate]

4. Ya nevaknow, could soften the recession. Maybe a bit.

Democrats will give him credit for the "could have been worse" and Republicans will give him credit for "making it worse."

--imm

[jpgray]

6. I think it will; parts of it are sorely needed

[Telly Savalas]

5. It's not that great a plan, but it's hard to imagine anything better

working it's way through the House.

[jpgray]

7. That's true enough