Democrats may seek a $300 billion Jobs Bill in 2010

[WI_DEM]

The cost of a new jobs bill Democrats hope to move early next year runs to nearly $300 billion when major proposals under serious consideration are added up.

Lawmakers are calling for extending aid to the unemployed, infrastructure spending, a hiring tax credit and increased small business loans.

A number of the jobs proposals backed by Democrats make up a $230 billion package proposed by Mark Zandi of Moody's Economy.com, who made a presentation to Senate Democrats Wednesday. The provisions supported by Zandi along with new spending on infrastructure, a favored approach of top House Democrats, would cost between $291 billion and $299 billion, according to estimates by lawmakers and economists.


Aides cautioned that Democratic leaders in both chambers are just beginning to consider what will go into the bill, and that estimates based on standalone bills may not mesh with the final jobs legislation.


But $300 billion would appear to represent an outlier of the cost of a new jobs bill. It would follow the $787 billion economic stimulus package approved earlier this year, which Democrats credit with saving jobs but Republicans criticize for failing to stem unemployment, which now stands at 10.2 percent

Tax credits for businesses that hire new full-time workers would cost about $27 billion under a proposal by Sen. Russ Feingold (D-Wis.) and the Economic Policy Institute, a left-leaning policy group. A new hiring tax credit has received extensive discussion and is under consideration by President Barack Obama, according to his economic team.

http://thehill.com/homenews/house/70351-dem-job-proposals-add-up-to-300b-of-extra-spending

[Kingofalldems]

1. I like it

The anti-repub jobs bill.

[RUMMYisFROSTED]

2. Trialballooney.

[DebbieCDC]

3. Infrastructure spending dammit!

It brings good-paying jobs and our roads, bridges, electrical grids, wastewater plants, etc. are CRUMBLING!!!!!

[Libertas1776]

5. +100

[Libertas1776]

4. Hmm,

escalation in Afghanistan and a 300 Billion jobs bill. Hate to sound like a Repub, but where the hell is all this money going to come from? The Dems certainly aren't raising the taxes of the uber wealthy. How about we stop the wars and invest the money where it is desperately needed...AT HOME!

[WI_DEM]

6. We are also pulling out of Iraq next year and have time line to do so in 2011 in

Afghanistan. My guess is that Obama will state that his first term was about finishing the wars, getting the economy fixed and passing health care and his second term will be about the deficit.

[Libertas1776]

8. Things look so nice and neat and orderly

when on paper, don't they? Prediction: We will be in Afghanistan long after 2011.

[WI_DEM]

10. time will tell.

[Libertas1776]

11. Yes, time will tell...

and I am not optimistic.

[cark]

7. What was the point of the first stimulus plan?

Wasn't the first stimulus bill supposed to create jobs and if not, why not? If $787b didn't work why will another $230b?

[WI_DEM]

9. The first stimulus also was about saving financial insitutions and tax cuts

it was the largest tax cut in history. They did miscalculate and should have spent more on jobs. This was the most severe recession since the Great Depression and it didn't take FDR just one year to turn things around either. Would you rather if they didn't spend anymore on jobs?

[SoCalDem]

12. It was not all spent, and it was a tentative first step

The problem is that people are in debt, and even if they have a job, they are afraid of losing it, so they quit spending money. If the money stops, so does the service economy.

Part of the bank bailout should have been BUYING up those mortgages and creating a national mortgage bank for a specified time-frame..and an automatic re-setting of rates, terms & mortgage amounts..

AND forcing the banks who "wrote-down" debts owed, to ELIMINATE them as they wrote them down,..not to keep collecting (or trying to) on debts they technically wrote off..

[SpartanDem]

14. It has created jobs

but its still not enough get us out of the hole. Most economist said that another stimulus was going to be needed.

Stimulus Generated Up to 1.6 Million Jobs, CBO Says

http://www.bloomberg.com/apps/news?pid=20601103&sid=aJI_OZwQHz_U

[cark]

16. Or as few as 600k jobs

Not really what I expected from $700b+ spending bill. Granted not all has been spent, but only $40B (20%) was targeted infrastructure.

[hfojvt]

13. probably should be bigger

include at least $50 billion to the states.

[Cleita]

15. It's about time but since I'm in a cynical frame of mind

these days, I believe by the time they reach out for "bipartisanship" and kiss a lot of Republican ass for 60 votes, that money will be funneled to Wall Street again. I really have little hope these days. Their past performance this year doesn't give me any enthusiasm that they will actually do something meaningful.

[leftstreet]

17. What's $300b divided by 350ish million people?

Plus add the previous $700b STOLEN BY WALL STREET and divide by the same 350ish million people

...carry the 1...

Just give us the cash already