Reuters delivers amazing news–President Barack Obama’s speech will save the American economy, and the world!
President Barack Obama’s jobs package could lift economic growth by one to three percentage points in 2012, add well over one million jobs and lower the unemployment rate by at least half a percentage point, judging by early estimates…Once demand picks up, the private sector will kick in and begin hiring, and the fiscal props can fall away.
It would deliver the economic medicine prescribed in recent weeks by Federal Reserve Chairman Ben Bernanke and the International Monetary Fund to prevent a worrisome slowdown in global economic growth from turning into recession.
Treasury Secretary Timothy Geithner also can assure his fellow finance officials at the G7 meeting of top industrial nations in Marseilles on Friday the United States is pulling its weight.
Amazing! Don’t tell me words don’t matter. (If only the president had done this years ago!)
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There’s only one problem, Reuters notes–those mean Republicans are standing in the way:
The wild card of course is whether a Republican-dominated House of Representatives will agree to the full $447 billion package, an unlikely prospect given their criticism that the $830 billion stimulus program of February 2009 failed to deliver lift-off for the economy and added to the huge budget deficit.
Well, it’s not too late to warn the voters. Thank you, Reuters! Thank you, President Obama!
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