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Saturday, September 8, 2012

As Seen On Twitter

Mark your calendars.

This, at least, is where one of the claims for 12 million jobs comes from:

"The current Moody's Analytics baseline forecast is for payroll employment to increase by 12 million jobs from the start of 2013 to the end of 2016 (134 million to 146).

"However, the economic assumptions embedded in our forecast include only an extension of Bush-era tax rates for those under 250K, which is more closely aligned with the Obama administration's position. We also assume a bipartisan deal to scale back sequestration and achieve a long-run fiscally sustainable path, with Democrats accepting reforms to Social Security and Medicare in exchange for the increase in top tax rates.

"In effect, therefore, Romney is essentially promising no more jobs than we currently expect to gain under proposals similar to those advanced by the Obama administration. There's not enough in Romney's plan to estimate how many jobs it would create. If he's saying the net change will be 12 million jobs, that's exactly what we're estimating without Romney's plan."

1 comment:

  1. As of the last unemployment report, we have added between 2,000,000 and 2,600,000 over the past year, from September 2011 to September 2012. That would extrapolate to 8 million to over 10 million just as things are now. And this was despite the constant obstruction of the Republican Congress, despite the Bush tax cuts which encourage rich people to buy a fourth vacation home vs. expand their businesses.

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