Pass This Stimulus Jobs Bill Now!!!!

As Obama has mentioned, we’ve got to pass this Jobs Bill Now. I mean, like, yesterday. He’s now flying around the country, warning Republicans not to be political about this and PASS IT PASS IT PASS IT.

What’s not to love, since he told us it is completely paid for? Completely. By TAXING those millionaires and billionaires.

Mr. Obama proposed limiting itemized deductions for families with taxable income of $250,000 or more a year, ending tax breaks for oil companies and corporate jet owners, and cutting out a tax break for investment-fund managers. The White House says the tax changes would take effect in 2013 and estimates they would raise $467 billion in additional revenue over 10 years.

Yea. Sure they will. Every one of these proposals are unacceptable.

Mr. Obama made a new pitch for his plan at the White House Monday and has said he intends to campaign against Congress and Republicans in 2012 if they don’t pass the bill.

Of course he will. What else could he possibly on? Nice that the default mode of Obama is to campaign against something. First Bush. Now, Congressional Republicans.

It gets worse – strawman alert:

“We’ve got to decide what our priorities are,” he said. “Do we keep tax loopholes for oil companies, or do we put teachers back to work? Should we keep tax breaks for millionaires and billionaires, or should we invest in education and technology and infrastructure?”

Idiotic. It’s statements like these, coming from Obama and the administration, that cause that tic I’ve developed.


Link via Puppy Blender, Megan McArdle on Obama’s “political theater” argues that paying for the Jobs Bill with tax increases is going to reduce the stimulus effect since tax hikes reduce demand, an economic reality supported even by Republican shill the former chair of Obama’s Council of Economic Advisers, Christina Romer. Megan McArdle:

Of course, you can still argue that the bill will provide some stimulus, because maybe the stimulative multiplier on payroll tax cuts for the middle class is higher than the contractionary multiplier of tax hikes on the affluent. I might even agree with you. But why would you want a stimulus that relies on the delta between two fairly similar multipliers, when you could get much more stimulus by borrowing the money this year, and paying it back later, when we’re richer? No matter how you look at it, unless these tax cuts happen well into the future, structuring the bill this way means that it will be much less stimulative than it could be.

If the president were serious about providing stimulus, he would pay attention to the work of his old CEA chair, and pay for the jobs bill by decreasing the growth rate of something-or-other in the future by 0.2%. This is also what he would do if he were serious about getting any part of it through Congress. Instead he is apparently sending them a less-stimulative bill designed to be maximally embarrassing to the GOP–which by definition means minimally politically viable.

You can say that Obama has no choice, because the GOP is just so damn obstructive that they won’t pass anything anyway. As it happens, I disagree–I don’t think that he could have gotten the whole thing through, but the GOP would probably have given him a few pieces to avoid looking like total jerks, and while that might not have done too much for Obama’s re-election chances, it probably would have meant a lot to the schmoes trying to make their mortgage payments in a tough economy.

But say it’s true. If it is, I really wish that Obama hadn’t wasted my Thursday evening, and that of 31 million other Americans, listening to a jobs plan that was only designed to produce one job–a second term for Barack Obama.

I can’t say that I “wasted” my Thursday evening, because I turned it on knowing that the entire charade was nothing but political theater. And, I had “Pass This Jobs Bill Now” as my drink phrase, so I was PLOWED.

Explore posts in the same categories: 2012 Election, Jobs Bill, Megan McArdle, Obama, Uncategorized

5 Comments on “Pass This Stimulus Jobs Bill Now!!!!”

  1. agiledog Says:

    First question to Obama should be:

    What is the bill number?

  2. I’m going to enjoy knowing that “generic Republican”, who is going to beat him in 2012 won’t be putting their feet on the Resolute Desk, and isn’t stupid enough to cling to the belief that government can fix the economy with OPM.

  3. Hotspur Says:

    And, I had “Pass This Jobs Bill Now” as my drink phrase, so I was PLOWED.

    You funny lady.

  4. Svenster Says:

    “Do we keep tax loopholes for oil companies, or do we put teachers back to work?” …Do we drown the kitten or feed the dog? Should we leave grandma out in the rain or paint the garage? Should I drink mass quantities of beer or read “The Audacity of Hope”? Decisions, decisions—but that last one’s pretty obvious.

  5. *hands Svenster a moist sponge so he can keep his fingertips wet enough to turn the pages with ease*

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