Dem's NEW Jobs Plan will Only Cost America $300 Billion …Update: Another US Manufacturer Packs Its Bags
Considering their last failed jobs plan cost $787 billion consider this a bargain.
Democrats tripled the national deficit in less than one year after their last failed stimulus.
They’ve increased the national debt to $12 Trillion.
And they’ve nearly doubled the unemployment rate since the Bush years.
Now they want to do it all over again.
The Hill reported:
The cost of a new jobs bill Democrats hope to move early next year runs to nearly $300 billion when major proposals under serious consideration are added up.
Lawmakers are calling for extending aid to the unemployed, infrastructure spending, a hiring tax credit and increased small business loans.
A number of the jobs proposals backed by Democrats make up a $230 billion package proposed by Mark Zandi of Moody’s Economy.com, who made a presentation to Senate Democrats Wednesday. The provisions supported by Zandi along with new spending on infrastructure, a favored approach of top House Democrats, would cost between $291 billion and $299 billion, according to estimates by lawmakers and economists.
Aides cautioned that Democratic leaders in both chambers are just beginning to consider what will go into the bill, and that estimates based on standalone bills may not mesh with the final jobs legislation.
Last week Nancy Pelosi confessed that the the reason Americans are mad about their record spending is that “they’re not getting anything for it.”
But, that won’t stop them from repeating the whole disaster again.
The federal government is “doing everything in [its] manpower [and] capability to destroy U.S. manufacturing,” says David Farr, chairman and CEO of Emerson Electric Co., in a presentation at the Baird 2009 Industrial Conference in Chicago Ill., on Nov. 11. In comments reported by Bloomberg, Farr added that companies will continue adding jobs in China and India because they are “places where people want the products and where the governments welcome you to actually do something. I am not going to hire anybody in the United States. I’m moving. They are doing everything possible to destroy jobs.”
UPDATE: Obama said today:
“I am open to every demonstrably good idea. But our resources are limited. We can’t make any ill-considered decisions.”
The “resources are limited.” That’s why they’re only spending $300 billion on this next boondoggle.
UPDATE: Mitt Romney offers a sound 10 point plan to fix the economy today.