The American Jobs Act Will Prevent A Recession – Pass It NOW!

Since President Obama announced his American Jobs Act, economists have almost unanimously predicted that it would boost GDP and create jobs. Here is a sampling of what has been said.

  • This headline at Bloomberg says it all, Obama Jobs Plan Prevents 2012 Recession in Survey of Economists. John Herrmann, a senior fixed-income strategist at State Street Global Markets LLC said “The plan ‘prevents a contraction of the economy in the first quarter” of next year.” Another quote from that article said ‘“The important thing to consider is: What happens if we don’t do anything?’ said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida. He said the program ‘very well could” forestall a recession in early 2012.'”
  • The Economic Policy Institute assessment of the jobs bill said, “So, how did President Obama do by our criteria? Very well, as the package provides a substantial boost to the economy in addition to continuing the important efforts already underway (providing unemployment compensation and the payroll tax holiday).”

What this comes down to is — Republicans have to choose between politics and helping the American people, who are clamoring for Washington to do something about creating jobs. The GOP is up against a wall and this is a test of whether or not the Republican party cares at all about American workers. I think I know the answer, but I’m still clinging to a shred of hope that they will do what is right for the country.

PASS THE BILL NOW!

Cross-posted at Angry Black Lady Chronicles

President Obama Talks To Real Americans – Minus The Media Filter

Turn off the cable networks! They are getting more desperate to bring President Obama down as he storms across the country talking to real people. We must not let cable news divert us from helping to get the truth out. Now do it, turn off CNN or MSNBC and watch this instead. Then share it with others.

“They Don’t Have The Luxury Of Waiting 14 Months”

You country needs your help today. This isn’t a liberal or conservative thing, a Democratic or Republican thing — this is an American thing. We must break the “everything is politics” cycle that the media and the cynics in this country cling to and perpetuate. Our country is on the verge of losing the middle class, of widening the gap between the rich and the poor and separating those in gated communities from those communities crumbling to the ground. Call your congressperson or senator, write letters to your local papers, comment on blogs…make your voice heard and tell them that you support President Obama’s American Jobs Act. Do it because it is the right thing to do for your family and neighbors, leave the politics out of it and fight against those who attempt to make it about politics. Spread the word far and wide, help put America back to work.

H/T to Smartypants

Cross-posted at Angry Black Lady Chronicles

President Obama Goes Big With Jobs Speech, Now It’s Our Turn!

If you haven’t seen President Obama’s jobs speech from last night, do it now, you won’t regret it. The hard work lies ahead for all of us to make sure his ideas get implemented and to push back against the baggers of tea and fire. Already, they are out trying to dampen enthusiasm and spin it to their own selfish ends. We all need to help get the word out, call your congressperson, senators…talk to your friends and family. Help explain how important it is that we come together as a country and put stupid Republican political games aside and finally put a stake in the supply-side idiocy that brought us to this point. Here is the speech…

President Obama Is Winning – He Keeps Creating Jobs For Americans!

And he has done this while fighting the Republican Party who has pulled out all the stops to try to kill our economy so they can grab even more power and give even more money to the richest people in the country who by the way, have been sending American jobs overseas. Ask the U.S. Chamber of Commerce, one of the GOP’s biggest supporters how they feel about shipping American jobs overseas. They actually teach classes on how to do it – how to stick it to American workers. Thanks to Steve Benen for the awesome chart and story.

Republicans Hate American Jobs, But Love Sending Them Overseas!

That is not hyperbole either, those are the cold, hard facts. Steve Benen has an excellent post about why they hate American jobs so much…it boils down to one word, POLITICS! From Benen at the Washington Monthly…(emphasis mine)

THE GOP PLAN TO MAKE UNEMPLOYMENT MUCH WORSE…. The number one issue on the minds of most Americans is job creation. With that in mind, it seems rather important that congressional Republicans are pushing a plan that would make unemployment much worse, on purpose.

A Republican plan to sharply cut federal spending this year would destroy 700,000 jobs through 2012, according to an independent economic analysis set for release Monday.

The report, by Moody’s Analytics chief economist Mark Zandi, offers fresh ammunition to Democrats seeking block the Republican plan, which would terminate dozens of programs and slash federal appropriations by $61 billion over the next seven months.

Zandi, an architect of the 2009 stimulus package who has advised both political parties, predicts that the GOP package would reduce economic growth by 0.5 percentage points this year, and by 0.2 percentage points in 2012, resulting in 700,000 fewer jobs by the end of next year.

Zandi also had bad news for liberal Democrats who are resisting sharp spending cuts: Bringing deficits down to sustainable levels will require more than a growing economy.

If this seems familiar, it’s because it’s not the first report to raise this point. The Washington Post‘s Dana Milbank, relying on data compiled by the Center for American Progress, found that the Republican budget plan would force roughly 975,000 Americans from their jobs. What’s more, just last week, economists at Goldman Sachs estimated that the GOP proposal would reduce economic growth by as much as 2% of GDP, which would cause the unemployment rate to go up about a point.

[…]

This deserves to be the lead story for every major news outlet covering the debate. There’s no more important angle to the electorate that still says economic growth and job creation trump everything else.

I would, by the way, gladly note the Republicans’ response to this, but as far as I can tell, the GOP doesn’t have one. The House majority has seen these multiple projections, showing steep job losses, that Republicans have responded with nothing — no projections, no competing sets of numbers, no hearings on the effects of their cuts, nothing.

I remember when I first heard that the U.S. Chamber of Commerce supported outsourcing and in fact, encouraged American companies to do it, I almost fell off my chair. The U.S. Chamber of Commerce encouraging American companies to ship American jobs overseas…you have to be kidding me, right? Oh no, this is not a joke. They actually have offered classes on how to do it….how to stick it to American workers. From ThinkProgress…

The ties between the AmChams and the U.S. Chamber are deep. In addition to sharing staff members, the Chinese AmCham has worked closely with the U.S. Chamber and the Chinese government to sponsor a series of seminars in America to teach American businesses how to outsource jobs to China (called the China Grassroots Program). Below is an invite to an event sponsored by the right-wing billionaire Sheldon Adelson, inviting local businesses in Florida to come to Jacksonville and learn about outsourcing from Chinese government officials like Li Haiyan, the Counselor for Economic Affairs for the People’s Republic of China, U.S. Chamber lobbyist Joseph Fawkner, and BChinaB, a firm that specializes in helping American firms outsource their manufacturing jobs to China. Click the screenshot below for the invitation:

Now everyone knows that the U.S. Chamber of Commerce is a huge benefactor of the Republican Party and make sure that their beneficiaries of their largesse fall in line with the “company line.” But really, the name “U.S. Chamber of Commerce” should probably be changed to reflect what it really does. How about the “Foreign Chamber of Commerce” or the “Non-U.S. Chamber of Commerce” because they receive a lot of money from foreign corporations and I’m sure it has NOTHING to do with their stance on outsourcing, right? More from ThinkProgress…

Separately from their relationship with the AmCham affiliates, the U.S. Chamber of Commerce receives direct foreign donations to the same 501(c)(6) political account the Chamber is using to run an unprecedented $75 million attack ad campaign against progressives. In an exclusive investigation, ThinkProgress documented over 80 foreign firms donating at least $885,000 to the Chamber’s 501(c)(6) account. As ThinkProgress’ Brad Johnson noted, many of these foreign supporters of the Chamber financing its 501(c)(6) are also some of the world’s largest outsourcing companies.

Isn’t that just sweet, the U.S. Chamber of Commerce taking donations from foreign nations that compete directly with American companies for jobs. Does anyone else see a problem with this or is it just me? Even Ronald Reagan must be rolling over in his grave over this bullshit, and this is the same group of folks who claim to have a monopoly on patriotism and nationalistic pride.

The Stimulus Worked Very Well!

Even though the right wing has had some success at sticking to message and brainwashing the “American People” and the media, the so called “Stimulus Bill” or the American Recovery and Reinvestment Act of 2009 has been extremely successful. From an article in the New York Times

Just look at the outside evaluations of the stimulus. Perhaps the best-known economic research firms are IHS Global Insight, Macroeconomic Advisers and Moody’s Economy.com. They all estimate that the bill has added 1.6 million to 1.8 million jobs so far and that its ultimate impact will be roughly 2.5 million jobs. The Congressional Budget Office, an independent agency, considers these estimates to be conservative.

I think it is proof that government can spur growth (5.7% in the last quarter), can you imagine how much more there could have been if the bill didn’t have so many tax cuts to placate the Republicans who didn’t freakin vote for it. The stimulus worked in a lot of ways…

In the early months of last year, spending by state and local governments was falling rapidly, as was tax revenue. In the spring, tax revenue continued to drop, yet spending jumped — during the very time when state and local officials were finding out roughly how much stimulus money they would be receiving. This is the money that has kept teachers, police officers, health care workers and firefighters employed.

Then there is corporate spending. It surged in the final months of last year. Mark Zandi of Economy.com (who has advised the McCain campaign and Congressional Democrats) says that the Dec. 31 expiration of a tax credit for corporate investment, which was part of the stimulus, is a big reason…

…For that, the stimulus package, flaws and all, deserves a big heaping of credit. “It prevented things from getting much worse than they otherwise would have been,” Nariman Behravesh, Global Insight’s chief economist, says. “I think everyone would have to acknowledge that’s a good thing.”

I guess in this “what have you done for me lately” country that we live in, memories are short, patience is short and the spin-meisters rule the world. Democrats tend to be more honorable people and won’t use the nasty tactics that the Republicans use. Blatant lying, manufactured stories, up is down, down is up and of course they have a syndicate of media to get their messages out, which the MSM then just repeats without correcting lies, errors or misleading interpretations. What the hell good is the MSM anyway?