‘agreement will create or save 2.2 million jobs’

Center for American Progress: Our analysis of the framework tax agreement that President Barack Obama announced yesterday, including additional tax cuts and an extension of unemployment insurance, finds that 2.2 million jobs will be the end result.

In this time of economic distress, millions of new jobs are, of course, very welcome. It is, however, unfortunate that these jobs have to come from an agreement that is a balance between large, unneeded, bonus tax breaks for the wealthiest Americans and the needed continuation of unemployment benefits, middle-class tax relief, and additional help for the economy for the rest of us.

While the terms of the deal are understandable given the effective veto power of conservatives, it is unfortunate that policies aimed at the vast majority of Americans and at boosting the economy were held hostage to wasteful tax cuts for the wealthiest 2 percent.

But the Obama administration clearly had its eye on job creation in its willingness to accept $133 billion in misallocated bonus tax breaks for the rich in exchange for policies to sustain the economic recovery and help the middle class.

We estimate that the deal as described would save or create 2.2 million jobs, excluding jobs associated with the extension of the broader-based portions of the Bush tax cuts on which all parties were agreed.

Read full article here

(Thank you for the link Rita Chakrabarti)

7 Responses to “‘agreement will create or save 2.2 million jobs’”

  1. 1 Hachikō
    December 7, 2010 at 2:00 pm

    Obama is such a sellout!

  2. 2 Kelly
    December 7, 2010 at 2:08 pm

    ikr…. I could not love and appreciate his sell out ass more than I do at this moment in time. What a man. 😀

    • December 7, 2010 at 2:15 pm

      Chuckle, you’re a HOOT!!!!


    • 4 Sue in Minnesota
      December 7, 2010 at 3:13 pm

      I’m in your camp Kelly.

    • 5 Hachikō
      December 7, 2010 at 3:16 pm

      Neither can I. He’s the only one at the negotiating table fighting on my behalf – all the time. I don’t see Jane ‘Firebagger’ Hampsher or Ed Schultz or Glenn Greenwald et al in there fighting with rethugs. I see POTUS and he always comes out with something that’ll benefit me. Always. It may not be as much as I’d like, but it’s something – and it’s a lot given the challenges he faces. So to hell with the leftist loudmouths beating their drum of self-righteousness.

      • December 7, 2010 at 3:30 pm

        Hamsher, Schultz and Greenwald are way too pure to get down and dirty with real life, they’re much more comfy in ideologically pure territory – you know, the place where real people haven’t the luxury of visiting.

        • 7 Chi
          December 8, 2010 at 12:55 am

          “ideologically pure” isn’t what I’d call this lot Chipsticks…

          It attributes a certain degree of integrity and honor or good faith to their evil machinations…

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