Obama Administration Accelerating Review of Ways to Boost Jobs

[TomCADem]

Source: Bloomberg

“My economic team is looking at ideas such as additional investments in our aging roads and bridges, incentives to encourage families and businesses to make buildings more energy efficient,” additional tax cuts to spur hiring, and more steps to ease the flow of credit to small business, Obama said today at the White House following the Labor Department report.

The president made his remarks after signing into law a measure extending an $8,000 tax credit for first-time homebuyers and benefits for unemployed workers, the first major expansion of provisions that were included in February’s economic stimulus. The legislation also provides tax refunds to money- losing companies.

* * *

White House press secretary Robert Gibbs said at a later briefing that the administration expects the unemployment rate will get “a little worse before it gets better.”

* * *

The legislation Obama signed will funnel an estimated $45 billion into the economy this year. The bill would extend until April 30 the tax credit for first-time homebuyers that would otherwise expire at the end of this month.


Read more: http://www.bloomberg.com/apps/news?pid=20603037&sid=atB_YDNpdKiI

---

The right wing will, of course, complain that spending on unemployment benefits just adds to the deficit, and that the proposed spending does not create jobs.

[bluestateguy]

1. They need to look for things they can do without Congress

Because all they know how to do up on the Hill is push paper and hold hearings and press conferences.

[Auggie]

15. And corporate influence

[optimator]

2. fire your economic team

step #1

[joeycola]

4. Bingo

[99 Percent Sure]

13. I have to rec the diary since I can't rec your comment. He at least should change

the WHEC point man from Summers to Volcker and change the Treasury Secretary from Disgusting Geithner to Reich.

And change the Federal Reserve chairman.

Unfortunately, none of this will happen. More is the pity because it should yet won't.

At the very least, he ought to Executive Order some kind of CETA-like jobs program, since the less he has to do with the bumbling idiots in Congress, the better off he--and we--will be.

[Psephos]

39. +1

[DJ13]

3. Get money into the hands of those who will spend it

Heres a hint:
Give a billion to a bank or a billionaire and it vanishes, doing no good for the economy.

Give a thousand poor people a thousand dollars and its put into the economy and creates jobs on a local level.

Really, its only difficult because you politicians are too chicken shit to tell your wealthy contributers they arent going to get all the money for themselves.

You wont solve a consumer led recession by giving all the money to the biggest of businesses directly.

[natrat]

5. hard to do anything when you work for the crooks, some pretty boy talk talk maybe

[onethatcares]

6. hard to do anything for the workers when

their health insurance premiums are getting set to rise astronomically.

[janet118]

7. It's about F-ing time

We're dying out here. I thought Joe was in charge of the stimulus package - put a fire under his butt. Most of that money is NOT creating jobs. We need lots of new jobs and fast or the 2010 elections will a bloodbath for Obama et al.

It's the jobs, stupid.

[TomCADem]

11. Stimulus Bill, Auto Industry Bail Out, Extension of Unemployment Benefits...

Are you arguing that President Obama is doing too much or too little? And, if more, what specifically, should the federal government do short of declaring martial law?

[PSPS]

21. Give it a rest. Obama is clearly not up to the job.

Instead of funding domestic works programs, he decided to allocate $13 trillion to the banksters. Obama is clearly in over his head and has also surrounded himself with the wrong people ('waivers' and all.)

[TomCADem]

27. That is an assertion, not an analysis. He should have let the banking system fail?

If this is your argument, then your assertion is even less credible. Without a functioning banking system, how would businesses meet payroll?

[MannyGoldstein]

33. What? Have You No Pom-Poms?

Find another site, buster. This site's for the O-Team, baby!

[janet118]

23. A project in my town received stimulus funding

It is being done by a Canadian company that is hiring non-union workers who are not American and will work for below scale wages. It's great about the money, but who's making sure it creates jobs for Americans.

[TomCADem]

28. Isn't that illegal? How do they get the visas for Canadian workers?

I can understand components being manufactured in Canada, but actually importing Canadian employees to perform the work? I would consider reporting them for visa fraud.

[janet118]

32. No oversight . . . loopholes.. . . who knows.

None of the local press is looking too close. Even the local union guys are letting it go in the hopes of getting some finish work thrown their way.

[MannyGoldstein]

34. But Goldman Got Their Cut

So stuff it, 'kay?

[xchrom]

8. that should have been done three or four months ago.

you can be new at a job - but this ignoring of the obvious is ridiculous.

[TomCADem]

10. Are You Serious? The Stimulus Bill , The Auto Industry Bail-Out,

And President Obama just extended unemployment benefits.

Or, are you saying that President Obama should have done nothing?

[xchrom]

12. ...

:rofl:

thanks for the comic relief.

[TomCADem]

29. Yes, The Freeper Trolls Who Launch One Line Attacks Are Quite Funny

Though I prefer reading more informed posts, personally.

[xchrom]

30. yes --i'm sure you're an expert in -- 'informed' --

erm -- maybe not so much.

[TomCADem]

37. Economist Mark Zandi - "The Impact of the Recovery Act on Economic Growth" - The Stimulus Works

Is that informed enough for ya? So, here is the question: Do you have a partisan agenda or do you have a constructive criticism of President Obama's economic policy?

http://www.economy.com/mark-zandi/documents/JEC-Fiscal-Stimulus-102909.pdf

The Great Recession has finally come to an end, in large part because of unprecedented policy efforts by the Federal Reserve and fiscal policymakers. The cost to taxpayers has been substantial but would have been even greater if aggressive action was not taken and the financial crisis and recession had been allowed to continue unchecked.

* * *

The fiscal stimulus is working

The fiscal stimulus is also working. The American Recovery and Reinvestment Act passed early this year has reduced payroll tax withholding, sent checks to Social Security recipients, and provided financial help to unemployed workers whose normal benefits have run out. The cash for clunkers program revved up vehicle sales, and the housing tax credit has boosted home purchases.iii It is no coincidence that the Great Recession ended just as the stimulus began providing its maximum economic benefit (see Chart 1).iv The stimulus is doing what it was supposed to do: short-circuit the recession and spur recovery.

* * *

The part of the stimulus providing the biggest bang for the buck—the most economic activity per federal dollar spent—is the extension of unemployment insurance benefits (see Table 3). Workers who lose their jobs before the end of 2009 can temporarily receive more UI, food stamps, and help with health insurance payments. Without this extra help, laid-off workers and their families would be slashing their own spending, leading to the loss of even more jobs.

* * *
It is possible that firms will resume hiring soon. There is historically a lag between a pickup in production and increased hiring. In the past, however, during the gap between increased production and increased full-time hiring, businesses boosted working hours and brought on more temporary employees. None of this has happened so far; hours worked remain stuck at a record low, and temporary jobs continue to decline.

[KoKo]

24. I thought this was already his plan. He was talking about this in his campaign when things were

already starting to implode under Bush. :shrug: What's new about this? He had a whole team of Economists he appeared with in the first weeks of his administration who were working on this? And, the first stimulus had this in the plan...or at least that's what I heard and I never missed a speech he ever gave. (If I did miss one...I looked it up later on line)

[placton]

9. ahhh - accelerating the review

doesnt really say much does it? Kinda like looking up and down at the view, just with faster eye movement?

[FVZA_Colonel]

14. A stronger investment of government funds in direct job creation is the soundest way.

It's what a number of economists recommended when the first stimulus bill, which, though it did include money towards that, did not go far enough.

[Beetwasher]

16. Stimulus II Is Coming

O's not stupid. It won't be called a stimulus, but it's coming.

[cutlassmama]

17. It needs to. The first Stimulus was way too small. Building

infrastructure is a great idea. Our nation's bridges and highways are collapsing and that needs to be done.

[twitomy]

18. Oh puleezze!

700 BILLION is not enough? If that first 700 BILLION was spent on activites that actually
STIMULATE the economy such as infrastructure, there wouldnt be talk of a second. It was a SHAM, nothing but a big fat payback and the Dems are going to lose seats in 2010 over this as they should.

Hey but didnt Joe Biden say the stimulus was working swimmingly? Gee ,if it keeps on working this good we migh lower the unemployment from 10% to 15%!!! HOPE!! CHANGE!! ORWELL!!!

[Auggie]

19. Can we PLEASE use stimulus to build and source stuff IN THIS COUNTRY???

I don't mean just bridges and roads. I mean concrete and steel and construction equipment and solar panels and wind turbines and DRYWALL THAT DOESN'T MAKE PEOPLE SICK!

THAT'S STIMULUS, DAMMIT

[NeoConsSuck]

40. Any white collar jobs

going to be created with this stimulus money? There certaintly weren't any created with the first stimulus.

We're not in the 1930's anymore, and most jobs aren't labor jobs.

[Auggie]

43. The white collar jobs should come with the blue collar jobs, no?

[bread_and_roses]

20. He could stop pouring our life's blood into war and the banksters trough for starters

goddess above and below, there is plenty of work needs doing. There are plenty of people eager to do it.

[mule_train]

22. Grassley: Pushes immigration authorities to hold employers accountable for H-1B Visa fraud

Grassley's doing a job 'Obama wont do'


U.S. Sen. Grassley: Pushes immigration authorities to hold employers accountable for H-1B Visa fraud
11/6/2009



WASHINGTON – Senator Chuck Grassley today pressed Immigration and Customs Enforcement to step up its commitment to end the fraud and abuse of the H-1B visa program.

Grassley noted that within the last year, Citizenship and Immigration Services personnel have made an effort to identify employers who may have misrepresented their hiring intentions, but it appears that very few prosecutions have moved forward.

“It’s important that the work of USCIS fraud detection agents is not ignored, and that employers who violate our immigration system are held accountable to the fullest extent of the law,” Grassley wrote.

Grassley is a proponent of legal immigration, but believes that fraud and abuse has become all too prevalent in the H-1B visa program. He has led the effort to close loopholes and enact reform in the H-1B visa program and introduced H-1B reform legislation with Senator Dick Durbin. Grassley has also asked questions of both American and foreign based companies about their use of the H-1B visa program.

Here is a copy of the text of the letter Grassley sent to Department of Homeland Security Assistant Secretary John Morton.

November 6, 2009

The Honorable John T. Morton Assistant Secretary Immigration and Customs Enforcement

Department of Homeland Security 500 12th Street, SW Washington, DC 20536

Dear Assistant Secretary Morton:

When we met six months ago, we discussed the need to increase visa fraud investigations and prosecute those who abuse our legal immigration system. As I stated then, I am very concerned about the rampant fraud in the H-1B visa program, especially in light of an internal U.S. Citizenship and Immigration Services (USCIS) assessment of the program. I’m writing today to ask again for your commitment to go after fraud and abuse by employers and to help put integrity back into this visa program.

Upon release of the benefits fraud and compliance assessment last year, USCIS issued internal field guidance informing adjudicators of the findings and instructing them to make changes to how they adjudicate H-1B petitions. Additionally, fraud detection agents have poured over hundreds of already approved applications to determine if employers misrepresented their intentions and are truly hiring highly skilled individuals for work in the United States.

Unfortunately, not many cases are being prosecuted. Meanwhile, some companies continue to hire H-1B visa holders and then outsource them to other worksites. Such was the case with the indictment of Vision Systems Group, Inc. earlier this year in my home state. Your agency alleges that the company did not have jobs available for the H-1B workers they petitioned for, and placed them in non-pay status upon arrival in the United States. Additionally, Vision Systems allegedly submitted Labor Condition Applications (LCAs) with the U.S. Department of Labor (DOL) that stated prevailing wage data for a location in Iowa rather than the higher prevailing wage for the location outside Iowa where the worker would actually be employed.

It’s my hope that your department will continue to focus on cases like the one I mentioned. It’s important that the work of USCIS fraud detection agents is not ignored, and that employers who violate our immigration system are held accountable to the fullest extent of the law.

I appreciate your consideration of this matter, and await your response to this letter.

Sincerely,

Charles E. Grassley

United States Senator















http://www.iowapolitics.com/index.Iml?Article=176094

[KoKo]

25. Grassley can do this now....because under Bush the Repugs wanted the Hispanic vote.

So now they can go after everything they wouldn't do because they wanted McCain elected and make themselves look like the "good guys." :puke:

[mule_train]

26. grassley's been on this since 2004

on h-1b, grassley IS a good guy

[MannyGoldstein]

31. Let Credit Card Companies Boost Rates To 35%

That should do it.

[Mari333]

35. Um, severe repercussions for OUTSOURCING JOBS AND ENDING HB1 VISAS

and supporting UNIONS would be a start.


as if they will counter their corporate overlords. I doubt it.

[Abq_Sarah]

36. How about NO new taxes of any kind

On the middle class, who happen to represent the majority of small business owners. Tax my company and you are directly taxing me.

[TomCADem]

38. Even Better! Lets Cut Taxes! The Benefits Will Trickle Down To Employees!

Wait, that sounds familiar...

[Abq_Sarah]

41. Here's the reality:

I am a small business owner. When the government comes out and slaps a new tax or new mandate on me, that reduces the amount of money I have available for increased benefits, new hires and pay raises. Contrary to popular belief, most small business owners aren't rich. The vast majority of us make less than a newly elected member of congress.

[TomCADem]

44. The Joe The Plumber Reality

The vast majority of small business owners should not be impacted by these taxes, particularly if you are not paying yourself a huge salary, but investing the bulk of your proceeds back in your business. This was one of the many false hoods spread through the myth of Joe-The-Plumber. If you are making less than a newly elected member of Congress, $174,000, then you will be unaffected by either President Obama's repeal of Bush's tax cuts to those making $250,000 and over, as well as the House's proposed health tax surcharge to those making more than $500,000.

I have not heard of any proposed increase in corporate tax rates, so again, you aren't hit there. Also, small businesses have to pay more per capita for health care for their employees than larger businesses, so again as a small business owner, being able to provide health care coverage on the same footing as larger employers should also be helpful.

[Abq_Sarah]

46. Again, the reality

Health care, cap and trade, extension of unemployment benefits... those things all cost businesses and ultimately consumers more money. The clowns on the hill can pretend our taxes aren't going up but in reality, they will. For everyone.

Regarding health care, employers hire people, they don't adopt them. Real reform would allow people to buy their own insurance from whomever they want and write it off on their taxes. You get the insurance plan you want and you keep it, regardless of where you work. The garbage they are peddling on the hill today is worse than business as usual. Trial lawyers get a free pass, insurance companies get a handy government mandate that forces us by law to purchase their product. Gee, how much do I have to give in campaign donations to get congress to pass a law forcing people to purchase services from my company?

[TomCADem]

47. That's Not Reality. That's A False Assumption That The Free Market Always Is More Efficient

Let me take the example of health care. You assume that government involvement will be (1) cost more and (2) be less effective than the current system that heavily relies on private insurance companies. However, the evidence demonstrates that notwithstanding the U.S.'s heavy reliance on the free market, per capita health care costs in the U.S. are twice as much any other country:

<>

The problem with health care is that when you are sick, you are not in a position to shop for the lowest cost provider. Worse, just like credit card companies, health care insurers, providers, etc., often hide the true costs of a medical procedure. Worse, insurance companies profit by minimizing the amount of premiums spent on actual medical care for their insureds. The U.S. is truly the exception in the world when it comes to health care. Accordingly to your analysis, since the U.S. pays twice as much per capita as the next nation, than the U.S. SHOULD have universal care, because we are pay far more than anyone else.

Now, you mention all "Health care, cap and trade, extension of unemployment benefits... those things all cost businesses and ultimately consumers more money. The clowns on the hill can pretend our taxes aren't going up but in reality, they will. For everyone."

Well, me take cap and trade. The false assumption there is that pollution is cost free. It is not. Rather, it imposes an external cost that is bourne by the surrounding community. Without environmental regulation, there is an economic incientive to ignore pollution individually to gain a competitive advantage. However, what happens to your property values, if a chemical plant dumps waste in your neighborhood? What happens to your business as your community suffers drought due to climate change? What happens to your business as unemployed people stuggle to buy the necessities without unemployment benefits?

In other words, inaction has a price, which you are ignoring.

[Thickasabrick]

42. The housing credit is a total waste of money. It only helps people

who don't need help - they can buy a house anyway. It is a give away to the housing industry.

That money should have been used to help people stay in their actual homes.

[MarlaM]

45. Perhaps the stimulus should have been larger

The stimulus was without a doubt a good idea, but I believe it may have been even more effective if it had included more money in it.