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Michael Hiltzik of the L.A. Times explains why he thinks President Obama's jobs plan will save and create jobs.
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Remember that quote we brought you from the young man occupying Toronto in this case about how.
Couldn't hold insults of the bank has because we're always looking.
That may have been a joke not shall -- on -- trip to source from that quote from the young man.
But it was funny anyway.
A Los Angeles Times Michael hit sick healed sic is with us.
He writes this about president Obama's jobs fun and I'm quoting directly from Michael's column in the LA times.
Obama's American Jobs Act would raise economic demand and boost employment.
While Republicans job growth.
Republicans though the growth act.
Would do little except protect.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So thanks for having me now I just want you to look at the president's plan.
Forget the comparison with the Republicans -- -- just look straight at the republic that the Democrats plan.
447.
Billion dollars to create jobs and expand implement you like it.
You think it would look tell me why.
Well it's not just me Steward economists have -- of this small business leaders.
Business leaders who I talk to all the time and I'm sure you have to.
What they all say is that the major problem in the economy today is a lack of demand what they want to see.
It's more customers coming through their doors with money to spend and that it seems to me is what.
Much the president's plan is directed -- but why did -- What the first time around I mean will we spent well -- -- how many trillion dollars first time around.
And I don't -- the president Good Morning America what what what he claims that it created and saved but it save what.
23.
Million jobs he saved them now you can improve that Michael.
-- send the same thing out loud as it did with this new money saying it might saint -- two million jobs -- mean you can't prove it.
-- It's not just the president the Congressional Budget Office this is that this is a bipartisan body.
On Capitol Hill has said consistently.
That the original stimulus did save jobs in added.
Percentage points to gross domestic product.
It added employment it did it moderated the unemployment rate he did all these things it -- work it work exactly as.
The draft resentment intended and no -- no reason no alright Carl Malone like this is what does -- -- assets now I'll come October it was -- that you passed this stimulus you spend this trillion dollars and we'll Max out at about 88 and a half percent unemployment.
We've never been anywhere near that we've been at 9% of the whole time through come -- Look it was it was certainly a mistake for the administration to put a number on what was gonna happen and these -- no doubt.
That looking back on it and the CBO.
Which is a bipartisan body it's not democratic it's not Republican.
Has looked at this and said yes it did work it did reduce unemployment.
It did create jobs he did create growth in the economy over what would have happened if it had not been passed OK that's -- heatedly -- did create demand.
Look at.
Part of this jobs plan is to extend unemployment benefits I believe that will be a 160 billion dollars for the yeah.
And extend a tax holiday.
A payroll tax holiday.
That's where you'll increasing demand comes from my take it -- the several hundred billion that that would be kept -- to the economy that's the demand side of the equation you which you like.
The look.
We've already -- alternatives but we've already got this.
We've already gotten that well I don't I don't wanna take it away at eleven going to lose -- why would why do you suggest that it would stimulate so much mall some in the we've already gone out which hasn't.
Stimulated a.
-- of really productive economy.
Well as I said but the CBS said right there had today pull them back economy -- come on -- want scenarios mean what they -- they looked at it this is what they found it's not.
Was of the partisan judgment.
And the fact is that if -- -- take away that stimulus what do you think is gonna happen to -- economy.
This is leaders business owners say what we need is war customers.
The kind of the doors to keep coming in the doors and to have gotten -- -- the offensive beyond -- -- you -- expect -- yeah -- -- on the middle class.
-- the argument on the outlook on I don't mean to cut you off but I I've got to have a point out yet but they are -- Jolie is what's the best way of increasing demand.
Is it by government spending or is it by stimulating the private sector how do you do that.
I say stimulate the private sector that's how we've always done it that's the best way of doing it.
You say have a government spend some more gives them no audio well I didn't know I'm telling I -- never got the last twenty seconds ago Michael -- up all right I have nothing against stimulating than the private sector.
Unfortunately the private sector has not stepped up to the plate that's been the problem.
Now if you look at the Republican jobs -- -- a contrast not a Democrat I've been addressed in this no stimulus there.
Well we can argue about older commercial book Michael it was thought and we appreciate you being with us from the -- -- the LA times is that correct that's right.
That's correct and thanks for having me -- up budget come back against -- thank you Michael I'm.
