Economist survey: Obama plan would halt recession, add or keep 275,000 jobs [View All]

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http://www.rawstory.com/rs/2011/09/28/economist-survey-obama-plan-would-halt-recession-add-or-keep-275000-jobs/

By Stephen C. Webster
Wednesday, September 28th, 2011 -- 4:07 pm

n a recent survey of 34 economists, Bloomberg News found that most agreed with less-than-optimistic predictions about President Barack Obama's jobs plan, saying it would essentially halt the recession and push the unemployment rate down, but just slightly.

The $447 billion plan, achieved mostly through reforming the tax code to eliminate loopholes, end subsidies to oil and gas companies and raising rates on the wealthiest Americans, would ultimately add or keep 275,000 workers employed.

But at the end of its course, Obama's jobs plan would only edge the national unemployment down by 2/10ths of one percent, they added. Most of the difference would be in workers retained who may otherwise have been dismissed, rather than new jobs being filled.