With Obama's Job Plan Out...Will It Pan Out?

I am confused about the "Job Plan" offered by President-elect Obama. The preliminary proposal eludes to the stimulus plan adding (or saving) three to four million jobs by the end of 2010. The job market is currently reflecting just under three million less workers this year than last. Cursory calculations suggest that the numbers are growing and that Obama's stimulus plan will narrowly bring America back to the starting line of 2008. The growth in the working-age population was not included in this evaluation. The jobs plan would, by all appearances, not keep pace with population growth. The Romer-Bernstein report has a three-tiered evaluation system to "guesstimate" the impact the plan will have on the creation and salvaging of jobs.

According to Mark Lieberman (senior economist for the FOX Business Network)
"That leaves though the impact on the real economy. While the recession has largely been consumer driven, the types of jobs created by the stimulus plan -- as estimated by Romer and Bernstein -- don’t automatically correct that.
According to their analysis, about 1.1 million of the 3.7 million jobs resulting from the proposal will come in two sectors: retail and leisure-and-hospitality -- the two lowest-paying sectors in the economy, with average weekly earnings of $19,948 (retail) $14,122 (leisure and hospitality). And that isn’t exactly the stuff recoveries are made of." So, I guess I will have to side with the Republicans and Democrats in Congress who are finally starting to "get it". If the numbers don't add up...the plan won't work. President-elect Obama doesn't have to have all of the answers by the swearing in date. He just has to have the right ones when it comes time to implement his decisions.

Note: Determination in haste can lead to fraud and waste.

May God bless America...and may America deserve it.

Zanne Booker 01-13-09