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Here -- the director of the national economic council for President Obama Gene Sperling gene welcome to Fox Business thanks Peter.
How many jobs as an -- as the president's new jobs plan going to create.
We're just starting in the the analysis from independent experts we've seen -- but they've all been positive.
Mark Zandi chief economist at Moody's solution -- I want to present -- well senator McCain's.
Top advisors in this presidential campaign estimated one point nine million jobs.
Macroeconomic advisors are projected one point three million jobs this year and 800000 jobs.
We got -- -- policy institute was over three million jobs the important thing though is that everyone is suggesting the same thing.
That this would provide significant momentum.
And what's very important is one cannot take the risk of this economy moderating for -- we have got to get this recovery take hold.
So when you hear that people are saying if we pass this act.
It could mean two million jobs you also saw.
The same analysis who percentage points of growth.
I think they thought that there -- between 2.2 percent and four point 2% we know incredibly positive impact that would have I think pace that would lower unemployment.
Percentage but I think this is so much about momentum small business out there they need to know.
That they have customers coming in that are gonna have customers the contractor.
Needs to know there's going to be housing construction.
There's going to be building bridges highways again.
That convinces the people are thinking about laying off five or ten workers -- five -- -- workers and that it's the whole momentum in the economy going.
And we need that we've taken a lot of tough it's this year of what we're already you know coming back from a very deep recession.
And I think the lesson this is the president said just have to stay at it and stay at -- and I was happy here that.
You know governor Republican governor missions in which -- working on the infrastructure.
Speaker of the house these proposals where consideration.
I hope people take that approach has no workers -- small business teachers American public.
They need help right now they need to see that we're gonna fight for this economy.
Is heading here after for a week first half to try to.
Get the economic and economics is that the strategy.
-- absolutely you know key economies are obviously about momentum and I think what was so unfortunate over this summer.
Was that a number of things happen on their own.
Would've been negative but -- may not -- -- as harmful maybe we could've survived the higher gas prices alone may be.
The supply disruption from the Japanese earthquake could've been -- The fear in Europe is probably the most significant issue each of these alone might have not been a problem -- together.
And then with us -- and our own dysfunction over the debt limit I think it did.
Make a lot of people's them I'm putting my plans on hole that can certainly offer pulling back with that started freezing up.
So when you're trying to put forward a plan like this -- you're trying to really can think you're trying to get more momentum.
More demand in the economy to get customers jobs get people back to work roughly just trying to -- that longer term confidence I think doing that.
People want to see from the old in the short term.
Getting more demand in the economy but they also want to see the unity within a context where you are gonna bring -- long term deficit down and that's what.
Putting forward this month and I think that's what most.
Economists both serious business leaders want from from all of us.
You have your own internal modeling internal projections.
You prepared to put out their own number.
How about how many jobs -- -- create.
You -- that we could do that go ahead let's do it.
That that that you know to be honest we define at times when we put out our number.
It becomes more treated more politically.
And so you know having to let happen on the stimulus package -- hello I'm around them and and there are some projections that that did not come to pass we'll know what really happened was that people didn't didn't -- that serious way.
We all know every economist in the world knows.
That it turned out that that the recession was deeper.
Than anyone could imagine you know we know now in the fourth quarter.
When the president came -- we've lost nearly 9% growth six point 7% first quarter.
So everybody understands that with that information.
All of world expected the unemployment rate was gonna be well over 9% and everybody changer.
There -- projections two months later but because there was a political opportunity.
People didn't treat it seriously.
So we have not trust to say let's put our planned out we'll see what different independent forecasters say I think and there's been -- -- Economic Policy Institute says -- three to four million.
Mark Zandi says one point nine million but I think for most people the American public they're saying.
You mean congress and the president and act now and at -- 1020300000.
Jobs a month I think they wouldn't.
I don't think protections would affect your view that we ought to take action we have that in our power which we do.
To get this economy going to take insurance against.
Other bad things that could happen that we can't control we have an obligation to -- responsibility.
To do so we're not.
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