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Infrastructure Spending a True Job Creator?

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  • Description

    FBN’s Gerri Willis sounds off on proposed transportation spending.

  • Duration 2:47
  • Date

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This transcript is automatically generated

Get back shovel because here comes the latest jobs pitch from congress and the president.

Congress is currently squabbling over transportation bills that -- -- Hundreds of billions of dollars and a promise of millions of jobs.

Here's Harry Reid just the other day pushing the merits of one such bill before the senate.

We're trying to pass a bill.

That we'll save about one point eight million jobs.

Can't produce about 700000.

More jobs that's what this is -- -- A similar bill backed by speaker John Boehner costing 260 billion dollars fell apart earlier this year White House Republicans wouldn't vote for -- And they're working on another one.

The president is pitching his own planned this one costs nearly half a trillion dollars over six years but it's unlikely that'll get through congress.

But one thing is consistent and all these plans at all these proposals the authors argue this kind of spending on roads and bridges.

And other so called shovel ready projects is the best way to you've heard it before creators -- jobs.

The recent history shown that argument it just doesn't work even the president has said as much.

Shovel ready was not -- The shovel ready as we expect.

-- -- Well the Federal Highway Administration says for every one billion spent on highways.

It leads to 35000.

Jobs.

But economists say it's almost impossible to put a precise figure on the number of jobs created by transportation spending.

-- -- -- one thing here is clear big government programs are not the way to create jobs.

Getting out of the way of the private sector is.

Take for example apple you know that company no government bailouts here and no taxpayer handouts either and for the first time ever.

Apple has attempted to quantify just how many jobs in this country can be credited.

To its line of iphones and ipads very big business.

Apple says it created or supported 5141000.

American jobs.

Now the -- precise number can be debated and to be sure apple has created more jobs outside this country.

But what -- you showed you how -- affected the government is in creating a lot of jobs compared the private sector.

And it leads to the inevitable conclusion that the best way for Washington to help manufacturers here in the US.

Is this simply.

Get out of the way.

And it wouldn't hurt to cut the corporate tax rate to in the US which is about to become the highest in the world.

Look these numbers make it clear -- the private sector that creates jobs.

Not the public sector.

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