NEWS FLASH

CBO: Obama’s Job Creation Ideas Provide Much More Bang-For-The-Buck Than The GOP’s | The Congressional Budget Office today released a new analysis looking at options for boosting the sluggish economy. According to the CBO, the proposals in President Obama’s Jobs Act — including a payroll tax reduction, providing aid to state governments, and investing in infrastructure — would provide far more bang-for-the-buck in terms of job creation than ideas favored by Republicans, such as corporate income tax cuts or a tax holiday on overseas corporate profits. The chart below looks at job creation ideas in terms of years of full time employment per million dollars spent:

Republicans, of course, have been filibustering each and every facet of Obama’s Jobs Act, save for a tax credit to hire unemployed veterans. On its current course, the CBO sees U.S. unemployment being close to 9 percent at the end of 2012.