ANALYSIS: Obama's jobs package would create 1.5 million jobs in 2012 and 1.3 million in 2013Quicklink submitted by Amanda Lang Permalink
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|One of the best aspects of President Obama's new budget plan is its near-term focus on job creation. This is a significant change from last year's budget, where job creation was effectively ignored in favor of deficit reduction (likely in response to the GOP victory in the 2010 midterm elections, but that's no excuse). This year, the president included $350 billion in job creation, $300 billion of which would hit the economy in the next year and a half. this jobs package would have an immediate positive impact on the economy and jobs. About 85 percent ($300 billion) of the package would hit the economy in the next year and a half. Using standard macroeconomic multipliers for the various policy categories, we find that the president's job creation proposals would create 1.5 million jobs in fiscal year 2012 and 1.3 million jobs in fiscal year 2013 (through Sept. 2013).|
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