The morning briefing: White House points to Zandi
Moody's Mark Zandi on State of the Union with Candy Crowley Feb. 27, 2011. The White House is pushing Zandi's largely positive analysis of the president's new jobs plan as evidence of why Congress should get behind it. (CNN)
September 9th, 2011
08:41 AM ET

The morning briefing: White House points to Zandi

The 1600 Blog's daily roundup of what the White House is reading this morning online and in the papers:

The White House would like to draw your attention to Mark Zandi’s report out this morning on the president’s jobs plan. Zandi – the chief economist at Moody’s Analytics whose economic analysis is often cited by both parties – calls the president’s plan “laudable” and writes that it “would go a long way toward stabilizing confidence, forestalling another recession, and jump-starting a self-sustaining economic expansion.”

The whole report is behind a pay wall [Economy.com], but here Zandi's numbers:

The plan would add 2 percentage points to GDP growth next year, add 1.9 million jobs, and cut the unemployment rate by a percentage point.

The plan would cost about $450 billion, about $250 billion in tax cuts and $200 billion in spending increases.

Many of the president's proposals are unlikely to pass Congress, but the most important have a chance of winning bipartisan support.

Zandi is somewhat critical of the plan’s $450 billion price tag – “approximately $250 billion takes the form of tax cuts, while another $200 billion comes through spending increases” – and the president’s proposal that its cost be offset by as-yet-unnamed deficit reductions beginning in 2014. Zandi’s analysis also points out the plan’s failure to deal with the ”ongoing foreclosure crisis and housing slump,” which he calls “major impediments to the recovery.” But overall Zandi says the plan could go a long way in increasing confidence in the U.S. economy, and he lays out some reasons why the economy could benefit from the additional “fiscal support” proposed by the president.

Here are some other stories the White House is reading this morning:

US STOCKS-Futures down after Obama speech as investors uneasy [Reuters]

Republicans make nice, but wary of Stimulus 2 [CNN Money]

Health-Care Ruling May Delay Final Answer From U.S. High Court [Bloomberg]

Obama’s uncle quietly released from jail [Boston Globe]

A Bipartisan Move to Tackle Benefits Programs [New York Times]

Hope for jobs bill? Don’t believe the hype [Politico]


soundoff (13 Responses)
  1. Elaine

    I liked what I heard from President Obama last night.; and I think that he has taken a reasonable and good faith approach to solving our economic problems.I was also happy to see some righteous indignation and tenacity.He is absolutely right when he says that congress can't run the clock out in anticipation of the next election that is 14 months away while the public suffers.To me, that is dishonorable, and a dereliction of their duty.

    September 9, 2011 at 9:39 am |
  2. Howard

    PASS MY HALF A TRILLION DOLLAR JOBS PLAN NOW !!!
    AND NEXT WEEK I'LL TELL YOU HOW WE'RE GOING TO PAY FOR IT ...
    And, if you pass it, you can find out what's in it ... sound familiar ???
    After all ... you suckers fell for it last time.

    AND, if you don't pass it now, you're against America ... last year, if you
    diagreed with me, you would have been Racist ... but this year, if you disagree
    with me, you're against America !!!

    It's time to kick this lying snake, and all his corrupt henchmen out of the White House,
    before they destroy America beyond repair ... if they haven't already.

    September 9, 2011 at 2:00 pm |
    • Russell Brown

      look back on past situations where a done deal came undone and identify the circumstances,
      the circumstances that caused the derailment.Figure out what the Democrats and Republican,
      could have done to recognize the situation earlier and what the Demorcrats and Republican
      to prevent it .

      September 12, 2011 at 10:06 am |
  3. Rick McDaniel

    The WH doesn't know what it wants........it tries to discredit the ratings agencies, when they call him out on his spending, and then the WH tries to act like the ratings agencies back him, this morning.

    Total partisan spin, and totally meaningless.

    September 9, 2011 at 4:19 pm |
  4. Allie F.

    Zandi has become a political hack for the WH; how in the world can he make these statements without even seeing a real, legitimate bill! Obama has had 3 years to come up with a plan, and still DOES NOT HAVE ONE! This is all smoke and mirrors and every American should write their Congressmen to stop this egregious spending.

    September 10, 2011 at 5:01 pm |
  5. Liz Carter in Georgia

    Hey Howard! You have proven by your own words to be a racist biggot. OBAMA did not call you that, I did! RACISM and BIGOTRY still exists in AMERICA and that IS one TRUTH, I can say he's done all he could to fly above! WHY? Because he keeps trying to be President of 'A' United States, when there ISN'T ONE! Now for myself, I'm not running for Presidency, nor do I plan to run for any elected office, so I don't have a thng to lose for pointing to it's 'obvious to the blind existance' and covert implications.

    September 11, 2011 at 12:20 pm |
    • Howard

      QUOTE OF THE DECADE – from CZECH REPUBLIC OBSERVER

      "The danger to America is not Barack Obama but a citizenry capable of entrusting an inexperienced man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama Presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their President. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America. Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama. It is less likely to survive a multitude of fools such as those who made him their President."

      September 11, 2011 at 7:19 pm |
  6. Liz Carter in Georgia

    ..As far as the anti-Americanism view that's being percieved by the President, I believe that's true too. TREASON and OBSTRUCTION is UN-AMERICAN. No other administration, whether it was a Democratic or Republican one has had to function under this much hate, supremacy, lies, slander, media-stemmed instigation, controversy, jealousy, anger, sabatoge, derailment, non-supportiveness, insubordination, and just plain old meaness! WHY? Because RACISM is hiding in true AMERICANISM and that that will never work!

    September 11, 2011 at 12:57 pm |
    • Howard

      THIS ARTICLE IS A PERFECT EXAMPLE OF PEOPLE LIKE LIZ AND JEAN ... WHO ARE BLINDLY DEVOTED TO OBAMA ... AND CALL ALL WHO OPPOSE HIM RACISTS !!!

      QUOTE OF THE DECADE – from CZECH REPUBLIC OBSERVER

      "The danger to America is not Barack Obama but a citizenry capable of entrusting an inexperienced man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama Presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their President. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America. Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama. It is less likely to survive a multitude of fools such as those who made him their President."

      September 11, 2011 at 7:29 pm |
      • Russell Brown

        Howard hate has always been dangerous,
        hate has a intimidating uncomfortable sound ,
        dont sabotage this opportunity with hate ,
        we call on you and others to start defusing the bomb,
        of hate when you come in the chat room .
        Dont let the fear of looking bad or losing momentum with the prospect that the president will get four more year to fix
        the -hit that the Republicans and the super rich took from the american people .

        September 12, 2011 at 10:33 am |
  7. Liz Carter in Georgia

    I believe you fit the mold of both, Howard. Until this President came into office, you were just racist; after he went in you and so many other so-called American 'Patriots' and 'Loyalists' have turned into anti-American, anti-Government, and it's all because you supremacists clowns are anti-OBAMA, period. You will turn against America and what's best for us ALL, as long as you see him fail! You all are the lowlife scumbags that you so faithfully call us! GOP goal: 'Let's make OBAMA a one term President!

    September 11, 2011 at 1:22 pm |
    • jean2009

      Thanks Liz.

      September 11, 2011 at 4:50 pm |
    • Howard

      Liz and Jean ... you both are the ones who continue to bring racism into most of your postings. It's pretty obvious that you are both racists, who get off on baseless accusations of racism, towards anybody, and everybody who does not share your brain washed, blind devotion for your messiah, Barack Obama. The truth is that your empty suit hero is ruining America ... and, America is much, much more important than this inept fool ... who was elected by even bigger fools, like you two.

      September 11, 2011 at 7:24 pm |