The Senate’s new bipartisan jobs bill likely would have only a modest effect on the US unemployment rate.
That is because the centerpiece of the legislation is a tax credit for companies that hire people who have been out of work for at least 60 days. Many economists say such credits are inherently inefficient employment-boosting tools.
“The problem with subsidies such as this is that they are exceedingly sloppy. A lot of money goes to those firms that would have hired anyway,” writes Howard Gleckman, a senior research associate at the Urban Institute, in an analysis of the subject.
Sen. Max Baucus (D) of Montana, chairman of the Senate Finance Committee, and Sen. Charles Grassley (R) of Iowa, the panel’s top Republican, jointly introduced the jobs measure on Thursday. ...
Comment: Baucus and Grassley are two sides from the same coin.
Rather than giving out money that well do absolutely nothing, wouldn't it make more sense to increase the tariffs on goods coming into this country so that we pay down the deficit and make foreign goods more expensive so there's an incentive to buy the few remaining goods that are made in the US, and to encourage people buy US goods? If we don't make anything in the US how can there be any jobs. Baucus and Grassley are amazing!
However, if our US Senate was made up of people that actually live in their states and represent their states, they would have knowledge of the financial malady our states and people face. But these people have virtually no idea how bad it is out here. But you know who does; our local representatives, they do. Not these clowns in the Senate.