OP-ED: Voodoo Economics Redux: Obama Jobs Plan: Based on Math — or Wishful Thinking?

By John W. Lillpop

Last week, President Obama tried to defend his Jobs Plan against recalcitrant critics by declaring, “This is not class warfare. It’s math.”

As it turns out Hope, rather than math, dominates much of his plan.

Consider, please, comments made by Mark Zandi, chief economist of Moody’s Analytics, the professional who projected that the Jobs Plan would result in the creation of 1.9 million jobs, reduce unemployment, and increase gross domestic product.

Zandi’s comments, reported at  http://news.yahoo.com/obama-plan-small-dent-jobless-rate-081609652.html,   include the following disturbing facts:
The projections for new jobs, reduction in unemployment, etc., is based on Zandi’s assumption that the Plan will be passed, in its entirety, by Congress before the end of the year, and that there are no other budgetary issues which upset the apple cart.

Of course that is unmitigated nonsense.

Congress is hopelessly divided on the issue and the Jobs Plan will not even be on the Senate calendar until October.

So much for Obama’s “Pass this bill now!” urgency!

Meanwhile, Senate Majority Leader Harry Reid is threatening to shut down the government next week over a Continuing Resolution needed to keep the government running.

Given that heated partisan environment, how likely is it that Congress will pass a Jobs Plan that proposes to spend another $457 billion on “stimulus” by taxing the hell out of those who, for no reason other than their extraordinary success, are on Obama’s enemies list?

Adding to the insanity is this little noticed fact: The projected growth in jobs applies ONLY to 2012!

Starting in 2013, Obama’s Jobs Plan becomes a “drag” on the economy. Zandi’s dire forecast includes this statement, “So by 2015, the economy is in the same place as now, as if there were no jobs package.”

How convenient, and presumably coincidental, that the projected creation of jobs begins just before the 2012 election, only to fade away in 2013!

However, while job growth dissipates, the $457 billion in new taxes is still owed.

Finally, Zandi pointed out that should a new recession befall the nation, all of his positive projections will be nullified.

Some economists believe that a double-dip recession has already arrived, while others believe that the original recession never ended.

The bottom line is that Obama’s Jobs Plan is a cruel mockery of the devastating problems facing this nation.

In fact, Obama’s Plan is all about “games, politics, and delay,” and is nothing more than an opening salvo in the war to win the White House thirteen + months from now.

America needs a plan for dealing with the economic decimation of our great nation.

Instead, Barack Obama delivered a plan for getting reelected.

Lillpop lives and blogs in California, a state with an official 12.1 percent unemployment rate (http://www.huffingtonpost.com/2011/09/16/california-unemployment-rate-august-2011_n_967189.html), the second highest in the nation after Nevada’s 13.4 percentand a Democrat in the governor’s office


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