Why The President's Jobs Bill Is Nothing To Get Excited About

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Wednesday September 07, 2011 · 6:37 PM PDT

2011/09/07 · 18:37

CNN is reporting that President Obama will be proposing a job creation package that may top $400 billion:

While some sources put the size of the package at roughly $300 billion, one Democrat familiar with the president's plan said Wednesday that the working figure was growing and could top $400 billion.

Sounds good, right? Maybe even a little bit encouraging? Forget about it.

By now we can already guess the ultimate outcome of this. The Republicans in the House will agree with all the tax cut provisions but will insist that all those tax cuts be paid for with spending cuts.

The President, of course, will---after some days/weeks of arguing fruitlessly with the House Republicans---accept a smaller package that is paid for entirely by spending cuts, which will guarantee that no actual stimulus to the economy will occur.

If you reduce government spending to pay for the "stimulus" of tax cuts, you are eliminating a good number of jobs in order to maybe create a smaller number of jobs.

The only possible way Obama will be able to avoid this is if the spending cuts are set to take effect in the future and the created jobs will come online in the next year+. Also look for the President to offer more cuts in precious entitlements in the future to pay for what will once again be a tax giveaway to the wealthy "job creators."

No, this is not just another posting that seeks to denigrate Barack Obama. It is a review of the real economic facts we are dealing with: net increases in government spending creates jobs. There is absolutely no way to get around that fact.

The Republicans know this, which is why there is no way they will agree to any real stimulus. They are betting everything on their ability to hang the economy's failure to recover on Obama's Failure. They'l agree to nothing rather than give anything at all to the economy.

Nothing to see here, Progressives...unless you are truly addicted to disappointment...

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