Open For Questions on the American Jobs Act

Senior administration officials answer questions on the President’s new jobs proposal. August 8, 2011.
Video Rating: 2 / 5

128

Rating: 8 out of 10 (from 17 votes)


25 Responses to “Open For Questions on the American Jobs Act”

  1. durhamdf says:

    (1) How does $1.6 T=20% of $15 T. Your math is as shitty as your logic. Right…it wasn’t the collapse of the housing market that caused the 08 recession…it was govt. overcrowding? LOL! Half of stimulus was tax cuts; I don’t hear you calling the $3 T we lost in revenue from Bush’s tax cuts “spending”. Companies are sitting on record cash holdings b/c there is no demand for their products and banks are sitting on record reserves b/c there isn’t any demand for loans. (contd)…

  2. durhamdf says:

    (2)(contd)…This is why govt. needs to temporarily fill this demand gap which will force companies to have to hire/invest to meet this demand. This in turn will lower the unemployment rate and increase consumption forcing companies to hire/invest a second time to meet this new demand. And on and on until govt. is competing with the private sector and begins “crowding out” competition. (contd)…

  3. durhamdf says:

    (3)(contd)…THAT is when govt. should cut spending and get out of the way. NOT IN THE MIDDLE OF THE BIGGEST RECESSION SINCE THE GREAT DEPRESSION WHEN THERE IS NO RISK OF CROWDING OUT COMPETITION! And where the fuck did you get that “most economists…think [GDP] was too big”? Yes our GDP was overvalued in 2007 because of overvalued hosuing prices. That doesn’t mean GDP was too big! HAAHHAHAH, what are you suggesting we need to actively work to shrink our GDP? LOL!!!!!

  4. mark baker says:

    “This would have brought total stimulus for that year to probably about 20 percent of GDP.” you conveniently ignored that comment which brings it to 20 percent. and it wasn’t $15 T, it was 14. Also, the best way to cure the economy is to create jobs in the private sector, that isn’t debatable, it’s a known fact. It’s also a known fact that government stepping in results in crowding out. I didn’t say crowding out caused the recession, I said it wasn’t hte best way to fix it. contd

  5. mark baker says:

    Furthermore, there is no logical reason to spend more money again. The American kills Jobs Act, will cost over $200,000 per job. Ask yourself, does that really make any sense at all. To spend nearly $240,000 on each job is absolutely ludicrous. Particularly when the private sector barely spends $120,000. That’s nearly twice as much as the private sector!

  6. durhamdf says:

    First of all you are assuming how many jobs the act will create in the FIRST round of the multiplier, how do you know that number? Second, take a single economics class buddy. What do you think when this money is spent by the govt. it is just gone?!?! NO! It goes through the multiplier effect as those who earn this money spend it, and it gets spent and taxed again and again and on and on creating growth at every level. Seriousy how is macroeconomics not mandatory in high school?

  7. mark baker says:

    first, it appears you know nothing about economics actually. Obama’s economic team claims it will create 2 million jobs (that includes the multiplier effect) It’s a well known fact that the person supporting their bill is going to exaggerate the numbers, regardless of political standing. So, yes, the number is actually 2 million, which comes out to $240,000/job. DO you really think that the economists that studied this bill, didn’t take into account the multiplier, contd

  8. durhamdf says:

    (contd)…ANd again kid, do the math (and our GDP is closer to 15T but whatever) 1.6/14=11% not 20% dumb dumb. ANd how the fuck do you thik government is crowding out anything when demand is stagnated and WAY below supply capacity. You are absolutely clueless kid, why is it that all of the sudden every moron thinks they are en econ major? And Obama has created more PRIVATE SECTOR jobs since the end of the recession in 2010 than Bush did in HIS ENTIRE PRESIDENCY! Look it up.

  9. mark baker says:

    and the multiplier is always much less in reality than on paper. You seem to think that the magic multiplier is going to just solve all the country’s problems. You think every economist is on your side. This isn’t true at all. Hardly any economists agree with you. Where did you learn your economics. You seem to think you’re very smart, but you don’t know anything about economics.

    Have you taken a single macroeconomics class and all of a sudden think you’re an expert.

  10. mark baker says:

    again, you need to do the math. U.S. GDP in 2009 (the year in question) was 14.044 trillion, much closer to 14 than 15 trillion. Similarly, the stimulus bill itself was 800 billion, plus all the extra stimulus in the form of tax cuts, cash for clunkers, energy efficient tax cuts, etc. and we are well above 10 percent. Do you really think the government should be up changing spending by 20-30-40% of GDP on any given year. The amount of stimulus you suggest is just ridiculous

  11. durhamdf says:

    HAHA Keynesian economics is called MAINSTREAM ECONOMIC THEORY because 99% of the economic cummunity follows its tenets! It doesn’t matter if the multiplier effect is smaller or bigger than we expect, there is ALWAYS a multiplier effect, unless every single person who gets a govt. contract just burries this money under their porch!You are just parroting the retarded tenets of austran economics that you don’t even understand! Why do you think that theory is taught only at clown schools?

  12. mark baker says:

    and again, you know what crowding out is? Just because there is excess supply of labor doesn’t meant that when the government gives out jobs, they are giving out jobs to the areas of the labor market that are suffering. In a scenario with 95 percent unemployment, the 5 percent employed could be in say, computer science. The government hires 10 millions computer sciences. Unemployment stays at 95 percent, but the government hired 5 millions people.

  13. durhamdf says:

    What the fuck are you babbling about, that was just an assumtion that stimulus had been 2X its original size and still this was just 11% of GDP. IMF, World Bank, CIA all had GDP at OVER 14.5T for 2010 but who cares. I never said govt. should be spending 20% of GDP/year. But clearly $862B for the stimulus and 2009-10 bailouts or 3% (=$862 B/ ($14T X 2 years))of GDP for those two years combined is not enough to dig an economy out of the biggest recession since the great depression!

  14. Jack Black says:

    Many who are unemployed have stopped looking for jobs. The government only counts people as unemployed if they are actively searching for jobs.

    When including those groups, the broader “underemployment” rate was 15.2 percent. That’s down from 15.6 percent the previous month, but still high. The figure has dropped for three straight months.

  15. python178 says:

    name 5

  16. NextLevelEnt1 says:

    OBAMA, RULER OF NATIONS / VOTE OBAMA 2012

    The 44th President of the United States of America “BARACK HUSSEIN OBAMA” The greatest black man… that ever lived!

    NEXT LEVEL ENTERTAINMENT CORPORATE HEADQUARTERS WORLDWIDE

    VOTE OBAMA 2012

    REV. 16:16

    There will be “nowhere to hide” once Israel is attacked! God’s… promise to man! The battle… begins. OBAMA, was born for this very day! The “Son Of Man” is coming home to where it begun, JERUSALEM.

    OBAMA, RULER OF NATIONS

    VOTE OBAMA 2012

  17. NextLevelEnt1 says:

    VOTE OBAMA 2012

  18. NextLevelEnt1 says:

    OBAMA, RULER OF NATIONS / VOTE OBAMA 2012

    The 44th President of the United States of America “BARACK HUSSEIN OBAMA” The greatest black man… that ever lived!

    NEXT LEVEL ENTERTAINMENT CORPORATE HEADQUARTERS WORLDWIDE

    VOTE OBAMA 2012

    REV. 16:16

    There will be “nowhere to hide” once Israel is attacked! God’s… promise to man! The battle… begins. OBAMA, was born for this very day! The “Son Of Man” is coming home to where it begun, JERUSALEM.

    OBAMA, RULER OF NATIONS

    VOTE OBAMA 2012

  19. NextLevelEnt1 says:

    VOTE OBAMA 2012

  20. NextLevelEnt1 says:

    OBAMA, RULER OF NATIONS / VOTE OBAMA 2012

    The 44th President of the United States of America “BARACK HUSSEIN OBAMA” The greatest black man… that ever lived!

    NEXT LEVEL ENTERTAINMENT CORPORATE HEADQUARTERS WORLDWIDE

    VOTE OBAMA 2012

    REV. 16:16

    There will be “nowhere to hide” once Israel is attacked! God’s… promise to man! The battle… begins. OBAMA, was born for this very day! The “Son Of Man” is coming home to where it begun, JERUSALEM.

    OBAMA, RULER OF NATIONS

    VOTE OBAMA 2012

  21. NextLevelEnt1 says:

    VOTE OBAMA 2012

  22. NextLevelEnt1 says:

    OBAMA, RULER OF NATIONS / VOTE OBAMA 2012

    The 44th President of the United States of America “BARACK HUSSEIN OBAMA” The greatest black man… that ever lived!

    NEXT LEVEL ENTERTAINMENT CORPORATE HEADQUARTERS WORLDWIDE

    VOTE OBAMA 2012

    REV. 16:16

    There will be “nowhere to hide” once Israel is attacked! God’s… promise to man! The battle… begins. OBAMA, was born for this very day! The “Son Of Man” is coming home to where it begun, JERUSALEM.

    OBAMA, RULER OF NATIONS

    VOTE OBAMA 2012

  23. 2012TicketFisherPaul says:

    Coming on Sunday 10 more films by the 5 men sitting next to me from the Muslim Brotherhood & the Palestinian Liberation Organization whom all know Greta Berlin but are so pissed off that BIBI is still communicating with Hillary Clinton & more upset that the Pope is still acting like he is controlled by Satan aka Dante. They want to speed up the process overseas by getting all Muslims to unite now & surround Jews world-wide. Hmm do the numbers 2 Billion Muslims.25 million Jews. Que Sera, Sera!!!!

  24. NextLevelEnt1 says:

    HE IS THE POWER

    THE KING HAS RETURNED: OBAMA, RULER OF NATIONS

    The 44th President of the United States of America “BARACK HUSSEIN OBAMA” The greatest black man… that ever lived!

    REV. 16:16

    There will be “nowhere to hide” once Israel is attacked! God’s… promise to man! The battle… begins. OBAMA, was born for this very day! The “Son Of Man” is coming home to where it begun, JERUSALEM.

    OBAMA, RULER OF NATIONS

  25. Skibum Willy says:

    In “Inheriting an Abundant Earth” on youtube, a simple rule tweak on an inheritance cap ends up changing the direction and purpose of modern human life! It’s something specific we can demand. Are we really just this close to having it work right? Watch “Inheriting an Abundant Earth” (“Occupying Chairlifts” 5.0) then sign the petition, and share it!!