Oct 19, 2011
Rooney’s “Jobs Plan” Pushes Same Failed Policies
Congressman Tom Rooney (FL-16) unveiled his “new” jobs plan yesterday, repackaging the same failed Republican policies that leading economists reject as hollow measures that would fail to create jobs right now. Earlier this year Congressman Rooney backed policies that even John McCain’s economist said would cost America 1.7 million jobs, and his latest proposal is just more of the same.
Instead a putting together a real proposal to create jobs—like investing in Florida’s infrastructure or educating future generations—Congressman Rooney issued three pages of talking points on his desire to provide tax breaks for billionaires, let Wall Street gamble our futures, and allow risky drilling off of Florida’s coast.
“Floridians can’t afford to follow Congressman Tom Rooney’s destructive path that even other Republicans say will not create jobs now,” said Adam Hodge of the Democratic Congressional Campaign Committee. “Instead of pushing the same failed policies that caused the last recession and backing controversial proposals that would cost millions of American jobs, Congressman Rooney he should get to work on a bi-partisan solution that will put people back to work and invest in Florida’s future.”
Background:
Mark Zandi: Republican Proposals, Like Rolling Back Regulations, Will Not Create Jobs in the Next Year. Mark Zandi, chief economist at Moody's Analytics, said the Republican proposals "won't mean much for the economy and job market in the next year.” He continued: "Given the high odds of another recession in the next few months, it is vital for Congress and the administration to provide some near-term support to the economy.” [New York Times, 10/6/11]
Joel Prakken: Republican Proposals, Like Rolling Back Regulations, Will Have “Little Immediate Effect” on the Economy. Joel Prakken, chairman of Macroeconomic Advisers, said the Republican proposals “would have little immediate effect” relative to a plan like the American Jobs Act which stimulates aggregate demand. [New York Times, 10/6/11]
House Republicans Voted for A Budget that Would Lead To 1.7 Million Fewer Jobs. On April 15, 2011, House Republicans voted for budget prepared by Paul Ryan. According the Mark Zandi of Moody's, a former economist for the McCain 2008 Presidential Campaign, the Ryan approach would result in 1.7 million fewer jobs, including 900,000 next year, than is the case under the president's proposal. [H Con Res 34, Vote #277, 4/15/11; Moody's Analytics, 4/14/11]
House Republicans Supported “Cut, Cap, and Balance,” Which Would Cost Americans 700,000 Jobs. On July 19, 2011, House Republicans voted for “Cut, Cap, and Balance Act,” a bill whose goal is to limit federal outlays to 18 percent of gross domestic product. According to the Center on Budget and Policy Priorities, the House Republican backed Cut, Cap and Balance would “cause the loss of roughly 700,000 jobs in the current weak economy, relative to what the number of jobs otherwise would be.” Similarly, Scripps Howard News Service described the proposal as “both simplistic and economically destructive.” [HR 2560, Vote #606, 7/19/11; HR 2560, 7/19/11; Center on Budget and Policy Priorities, 7/16/11; Scripps Howard News Service Editorial, 7/5/11]
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