Obama compromise projects 8.7% vs 9.9% jobless with just middle tax cuts

[dkf]

AMT fix, 1 year extension of top tax cuts, reinstatement of estate tax, and popular business cuts.

GDP growth for Obama compromise of 3.9% vs 2.8% with just the above.


http://swampland.blogs.time.com/2010/12/08/why-democrats-will-probably-swallow-the-tax-cut-compromise/

[MannyGoldstein]

1. Wasn't the last stimulus supposed to cap unemployment at 8%?

Sorry, the only estimates I trust these days are from Krugman, and he says The Deal is bad for America.

[dkf]

2. Krugman says it will generate growth but doesn't like the politics of it.

"But, yes, I mean, everyone sensible will agree that, next year, there will be somewhat more jobs than there would have been if there had been a complete breakdown in negotiations over the taxes and everything else."

http://www.pbs.org/newshour/bb/politics/july-dec10/taxcuts_12-07.html

[impik]

5. He doesn't like the politics??? You'd think he cares whether Obama wins re-election or not...

Hilarious.

[w4rma]

6. Obama won't win reelection with comprimises like this. Watch what happens in 13 months. (nt)

[frylock]

3. what is the admin's success rate at predicting unemployment?

[PhilosopherKing]

4. one word

Shitty.

[w4rma]

7. I think his economic people just make this crap up out of thin air to promote the latest BS. (nt)

[cherokeeprogressive]

9. Seems to me like sometimes I hear of revisions to numbers previously touted as good trends

and those revisions are almost always downward. Out of thin air...

[Hawkowl]

8. Not good enough

If he wants to be re-elected, he needs to get the (official) unemployment level down to 6%. If he does not focus all his energies on this one fact, he will lose.

Why? Because if you don't have a job in America--YOU FUCKING DIE!!! No healthcare, no welfare, no unemployment, no housing. NO JOB = DEATH.

So when people are afraid of losing their job in Amerika, they are actually afraid of dying. When people are that afraid they will vote for anyone or anything that promises them salvation.

[Enrique]

10. please name the economist who came up with those numbers

put it in the thread title.

Also name which candidate Mark Zandi worked for in 2008. Thanks!

[Exilednight]

11. Most of Obama's economists argue that the upper tax cuts will have little to no effect on ..........

job growth. At least that was the consensus on Obama's economists on MTP this morning.