Rescuing the Economy: How Does the Stimulus Work?

Michael Ettlinger from the Center for American Progress explains why the US economy needs a stimulus bill passed that leads with public investments. THE FACTS 1) WE ARE LOSING 15,000 JOBS A DAY. 2) THIS BILL IS ABOUT JOBS: IT SAVES JOBS, CREATES JOBS, HELPS PEOPLE WHO LOST THEIR JOBS, and LAYS THE FOUNDATION FOR FUTURE JOBS. 3) CONSERVATIVES ARE PUSHING THE SAME, OLD FAILED BUSH POLICIES THAT GOT US HERE IN THE FIRST PLACE – tax cuts that benefit big corporations and CEO’S at the expense of the middle class. STIMULUS BACKGROUND: 1) SAVES AND CREATES 3-4 MILLIONS JOBS: The recovery bill will save jobs that are currently on the chopping block and create jobs by making targeted investments and boosting economic activity. Relief for state and local governments will help them avoid making the layoffs of police, firefighters and teachers, more spending cuts, and tax increases that will worsen the downturn. Stemming the downturn will protect private sector jobs that are on the verge of being cut. The recovery bill will make targeted investments that will create millions of jobs. For example, the recovery bill’s… Investments in energy will create 459,000 jobs. Investments in infrastructure will create 377,000 jobs. Investments in education will create 250,000 jobs. Leading economists like Mark Zandi have concluded that targeted spending is the most efficient way to create jobs in a recession 2) HELPS PEOPLE WHO LOST THEIR JOBS: The recovery bill will help people who lost their jobs with middle-class tax cuts and investments in programs that will put money in the hands of people who will spend it and protect the most vulnerable. The “make work pay” tax cut will give $1,000 to 95 percent of families. Expanding unemployment benefits, food stamps, and health coverage will lend a helping hand to out-of-work families....

Channel: Vimeo Video Length: 1m 32s Date Found: Tue, Mar 22 2011 3:36 AM Category: Educational Date Produced: Thu, Feb 05 2009 3:48 PM View Count: 0