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McCain Campaign Advisor: SEN Bill Creates 625K Less Jobs Than House Bill

By Big Tent Democrat, Section Economy
Posted on Tue Feb 10, 2009 at 03:10:00 PM EST
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Bloomberg:

“The House bill will create more jobs and a stronger economy than the Senate bill,” said Mark Zandi, chief economist at Moody’s Economy.com, who was a campaign adviser to Republican presidential candidate John McCain. Zandi estimates that the $838 billion Senate package would create about 625,000 fewer jobs than the $819 billion House version over the next two years.

(Emphasis supplied.) 625,000 less jobs costing $20B more? Time to trim the fat, fry the bacon, and milk the sacred cows out of the Beltway "bipartisan" BSers Senate bill.

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    McCain Campaign Advisor: SEN Bill Creates 625K Less Jobs Than House Bill | 31 comments (31 topical)

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    Maybe McCain is playing Star Trek (5.00 / 3) (#2)
    by ThatOneVoter on Tue Feb 10, 2009 at 03:31:22 PM EST
    Chess back at Obama.


    Brain...Hurting... (5.00 / 1) (#4)
    by Faust on Tue Feb 10, 2009 at 03:34:02 PM EST
    Must...Smash...Face...On...Table...

    Whoa! (5.00 / 3) (#9)
    by Steve M on Tue Feb 10, 2009 at 03:42:00 PM EST
    Unless I'm mistaken, even Krugman estimated the difference at "only" 400-500,000 jobs.

    When Krugman and one of McCain's advisors are in the same ballpark, it seems to me that we might have a pretty good argument at our disposal here.

    Anecdotally, there's more than one conservative around my office who is like, "look, if a bill is going to pass, at least make sure it does the right things."

    Once attention is focused on the details of the differences between the Senate and House bills, people will see that there's no good argument for the Senate bill.  The "centrists" will look like idiots if they back out because they didn't like the conference report.

    He wrote 600,000 on his blog the other day (none / 0) (#11)
    by andgarden on Tue Feb 10, 2009 at 03:45:37 PM EST
    So it seems like the math is pretty straightforward and uncontroversial.

    Parent
    CAP (none / 0) (#13)
    by Big Tent Democrat on Tue Feb 10, 2009 at 03:46:23 PM EST
    came in at 538k.

    Parent
    Your office wingnuts are smarter than mine. (none / 0) (#30)
    by jussumbody on Tue Feb 10, 2009 at 11:10:48 PM EST
    Mine think the $15K home buying credit is good because it will all get spent at Home Depot, or something like that.  To them Pelosi=Pork, which is passing the bill on to our grandkids, but the tax cuts fiscally responsible.  It's all about Pelosi, the retarded pork lady.  They're also convinced that all this talk of recession is just selfreinforcing psychology.  It people would just go out and spend a bit, they've feel a lot better and everything would be great again.

    Parent
    House Conferees: (5.00 / 1) (#14)
    by andgarden on Tue Feb 10, 2009 at 03:48:38 PM EST
    Obey, Rangel, Waxman, Lewis (CA), Camp.

    Good two Californians (Waxman and Lewis) (5.00 / 1) (#18)
    by DWCG on Tue Feb 10, 2009 at 04:02:43 PM EST
    Hopefully both will push for a return of the state aid, given that we're dealing with a nearly $50 billion deficit here.

    Parent
    Lewis can be bought, I think (5.00 / 1) (#20)
    by andgarden on Tue Feb 10, 2009 at 04:20:40 PM EST


    Parent
    Why Have Any House Republicans? (none / 0) (#19)
    by santarita on Tue Feb 10, 2009 at 04:02:53 PM EST
    They didn't vote for the original bill.

    Parent
    It's how you go to conference. . . (5.00 / 1) (#21)
    by andgarden on Tue Feb 10, 2009 at 04:21:11 PM EST


    Parent
    Dave Camp (5.00 / 2) (#22)
    by Steve M on Tue Feb 10, 2009 at 04:21:53 PM EST
    is one of the Republicans who indicated that he might be persuadable, and he was at Obama's event in Indiana yesterday, if I'm not mistaken.  So it's probably a good thing that he's involved as opposed to one of the many dead-enders.

    Parent
    So (5.00 / 1) (#17)
    by jbindc on Tue Feb 10, 2009 at 04:00:08 PM EST
    If this version of the bill will create 625,000 fewer jobs, and Obama praised it, how does that help Obama keep his promise of "creating or saving 4 million jobs" ? (And I still don't understand how he will account for which jobs are saved because of the stimulus???)

    I love the "creating or saving" bit! (none / 0) (#31)
    by dualdiagnosis on Wed Feb 11, 2009 at 01:02:41 AM EST
    It means that, if at the end of the day, we still have 4 million people employed in this country, Obama has done his job.

    Parent
    A difference of $20 billion means a (none / 0) (#1)
    by Joelarama on Tue Feb 10, 2009 at 03:28:16 PM EST
    difference of 625,000 jobs.  I'm not economist, but that tells me much of the rest of the stimulus is invested in simply preserving the status quo in terms of job creation.  That, or much of the stimulus is indeed the kind of pork that does not equal stimulus.  Or some combination of the two.

    When we are talking about these big numbers, in addition to the TARP, I don't get why the Senate should even question $20 billion more for 625,000 jobs.  

    you misunderstand (5.00 / 3) (#3)
    by Big Tent Democrat on Tue Feb 10, 2009 at 03:33:15 PM EST
    The 20B difference does not mean 625,000 jobs.

    It means the Senate porked up its bill with a lot of nonstimulative stuff and took out real stimulus.

    Thus, it costs more and does less.

    Parent

    The pork, if I'm not mistaken, is mostly AMT (none / 0) (#6)
    by andgarden on Tue Feb 10, 2009 at 03:36:18 PM EST


    Parent
    Also the Housing tax credit (5.00 / 1) (#7)
    by Big Tent Democrat on Tue Feb 10, 2009 at 03:37:34 PM EST
    and the Auto buying tax credit.

    Dump em all.

    Parent

    Problem is that the auto tax credit (none / 0) (#8)
    by andgarden on Tue Feb 10, 2009 at 03:40:14 PM EST
    is Mikulski's, and she got a lot of votes for that amendment. She'll be pissed if it's yanked.

    Parent
    Well (5.00 / 2) (#12)
    by Big Tent Democrat on Tue Feb 10, 2009 at 03:45:45 PM EST
    We're trimming the fat, frying the bacon and milking the sacred cows here.

    If we have to break a few eggs also, we can have a nice breakfast.

    Parent

    STOP! (5.00 / 1) (#16)
    by jbindc on Tue Feb 10, 2009 at 03:57:43 PM EST
    I won't have dinner for another 2/1 hours and I'm already starving!

    Mmmm....bacon....yum!

    Parent

    heh (none / 0) (#15)
    by andgarden on Tue Feb 10, 2009 at 03:49:38 PM EST


    Parent
    Time for Obama to have a little (none / 0) (#26)
    by hairspray on Tue Feb 10, 2009 at 09:48:06 PM EST
    talk with her!

    Parent
    More of the Senate bill is in tax cuts (5.00 / 4) (#5)
    by ruffian on Tue Feb 10, 2009 at 03:35:33 PM EST
    that do not produce as many jobs as the spending in the House bill. TheSeante Bill costs 20B more, for fewer jobs.

    Give me the House Bill any day. I'd like it better with even more jobs spending, but it is better than the Senate bill.

    Parent

    Please someone get this in the hands (none / 0) (#10)
    by DWCG on Tue Feb 10, 2009 at 03:43:19 PM EST
    ...of every pundit.  And have them hammer it away every day from now through the end of the week.

    Why didn't Obama just throw a party (none / 0) (#23)
    by lilburro on Tue Feb 10, 2009 at 04:49:26 PM EST
    for these kinds of Republicans - Zandi, Charlie Crist, Arnold even - if he wanted bipartisan support?  Zandi and Crist are not attracted to this plan because Obama reached out to them but because they apparently have f**** brains.  

    unfortunately (none / 0) (#24)
    by CST on Tue Feb 10, 2009 at 04:53:40 PM EST
    those republicans don't get to vote in the senate...

    Parent
    Maybe they (none / 0) (#25)
    by jbindc on Tue Feb 10, 2009 at 05:00:24 PM EST
    can go to one of his soon-to-be-regular happy hours

    Parent
    Will they be (none / 0) (#28)
    by cal1942 on Tue Feb 10, 2009 at 10:26:12 PM EST
    two drinks for the price of one?

    Parent
    I have a nicely seasoned cast iron skillet (none / 0) (#27)
    by TeresaInSnow2 on Tue Feb 10, 2009 at 10:10:37 PM EST
    For all of that breakfast you're wanting to make.  I'm just saying...

    This time you really are speaking for you (none / 0) (#29)
    by jussumbody on Tue Feb 10, 2009 at 10:45:31 PM EST
    and every check-out counter that says "10 items or less".  That should be fewer jobs, not less jobs.

    McCain Campaign Advisor: SEN Bill Creates 625K Less Jobs Than House Bill | 31 comments (31 topical)

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