So Wait, If We Know The Jobs Bill Isn’t Going To Create Many Jobs……

Want to know why the American people have zero trust in the competence of politicians in DC? This certainly seems to sum it up in a nutshell:

It’s a bipartisan jobs bill that would hand President Barack Obama a badly needed political victory and placate Republicans with tax cuts at the same time. But it has a problem: It won’t create many jobs.

Even the Obama administration acknowledges the legislation’s centerpiece – a tax cut for businesses that hire unemployed workers – would work only on the margins.

…The nonpartisan Congressional Budget Office recently concluded that reducing Social Security taxes for companies that add workers would be among the most efficient ways for the government to create jobs. However, in showing how difficult it is to create jobs through tax policy, CBO estimates that such a tax break would generate only eight to 18 full-time jobs per $1 million in tax breaks.

The Senate proposal, which is more narrow than the one analyzed by CBO, is estimated to cost about $10 billion. That would add 80,000 to 180,000 jobs over the course of a year. The U.S. economy, meanwhile, has lost 8.4 million jobs since the start of the recession.

Nonetheless, supporters say it is cheaper, simpler and less vulnerable to abuse than Obama’s plan, which would give a $5,000 tax credit for each new worker that employers hire and cost $33 billion.

Either way, Obama and lawmakers in both parties still could claim tangible accomplishments in addressing high joblessness and the inability of Republicans and Democrats to work together to solve problems, both top issues among voters early in 2010 midterm election season.

So, let me get this straight. The idea here is to spend 10 billion dollars on a jobs bill that doesn’t create jobs, but “lawmakers in both parties still could claim tangible accomplishments in addressing high joblessness and the inability of Republicans and Democrats to work together to solve problems.”

Let’s look at this another way: they know the bill isn’t going to work before they start, yet they’re going waste 10 billion dollars of our money to make illusionary progress on issues that they believe may appeal to voters.

Suddenly, I think I see why the guillotine had so much appeal during the French Revolution…

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