Partisan politics takes precedence over jobs

info@islandpacket.comOctober 28, 2012 

It is hard to overestimate the damage done to the American economy caused by the determination of the fanatical majority of the Republicans in Congress to deny President Barack Obama a second term.

A case in point is the American Jobs Act, which the president submitted to Congress in September 2011. The bill never got to first base, however, because Republicans opposed it from the start as another form of "failed stimulus." They ignored the fact that most impartial commentators have concluded that the 2009 stimulus was very successful in stabilizing the economy and starting it on the road to a modest recovery.

Many economists had predicted that the American Jobs Act would have produced more than a million jobs:

  • Moody's Analytics estimated it would create 1.9 million jobs and add 2 percent to the gross domestic product.

  • The Economic Policy Institute estimated it would create 2.6 million jobs and protect 1.6 million existing jobs.

  • Macroeconomic Advisors predicted it would create 2.1 million jobs and boost GDP by 1.5 percent.

  • Goldman Sachs estimated it would add 1.5 percent to GDP.

  • It is incredible that raw politics has hindered action that would have helped millions of Americans who are still struggling in this economy. The nation needs relief from the know-nothing, do- nothing Republicans in the House of Representatives.

    Remember that when you vote in the race for the newly revamped 1st Congressional District on Nov. 6.

    Tom Israel

    Hilton Head Island

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