Pipe Dreams - Obama Says Plan Can Add or Save Up to 4 Million Jobs

What's he cooking now? Well, nothing new really, as he has touted clean energy jobs for a while now. Oh, and by the way: US unemployment is now at 7.2%.

What to draw from the president-elect's economy plan is that he plans on using 800 million more than has already been spent to create alternative energy jobs, constructions jobs, and more. The plan claims to create 3-4 million jobs by 2010. Also, $1000 tax cuts for 95% of working families.

First problem I have with this is that we have spent trillions of dollars already on the economy in the last year and a half. Can't we avoid lowering the value of the dollar more? (But then again, is a dollar really worth anything anymore, as they are really all just ones and zeros now (read one of my recommended books below: The Ascent of Money, 2008)). My second issue with this idea is that this plan will take a while to pass congress, and at what cost? How many more jobs will we cut before this is voted on.

The biggest concern with this plan is the goals of 3-4 million jobs in such a short span. That's just a false hope. Maybe 500,000 is more like it. I would love for there to be 4 million new jobs back by 2010, but think about the type of jobs being created by these projects. The plan suggests 500,000 jobs in alternative energy plants and factories. They aren't build yet, and there isn't a big enough demand for that much man power. Sure, some smaller companies produce solar panels already, but they are already meeting demands. You have to generate sales as well in this formula, or you will have just created stockpiles of merchandise.

Another job type to be boosted in this plan is construction. I dread thinking about how long these 'projects' take to plan, and then execute. Have you ever seen one take less than a year to plan and execute?

Please don't print anymore play money Mr. Government. I don't want to have a loaf of bread cost 10 dollars. Can't we prioritize our expenditures rather than print money? In the end, I think there will be more jobs, but 3 million, when we lost 500,000 in December 2008 alone? Get out of here.

Story link: http://www.nytimes.com/reuters/2009/01/10/washington/news-us-usa-obama.html?_r=1
Photo Credit: Washington, Friday, Jan. 9, 2009.(AP Photo/Lawrence Jackson), this photo is for reference and not to be interpreted as when President-Elect Obama spoke of his economic plan