Obama Jobs Plan a Step Toward Boosting Economy

Updated: Friday, September 9, 2011, 11:15 a.m.

President Obama delivered a much anticipated address on jobs and the economy before a joint session of Congress this evening. I put out the following media statement in response:

There is no question that we need a jobs policy to meet the vast challenges our economy faces today. The President has put forth some good ideas, including an extension of unemployment benefits that will help families in rural and urban communities where jobless rates are particularly high. This plan should be the start of a broader discussion about how we can invest in people and local communities across the nation to repair our broken economy. Doing nothing is not an option.

Update: If you're looking for some more analysis on the President's plan, check out these:

The team at the Economic Policy Institute has a quartet of blog posts, including Heidi Shierholz's look at the jobs gap, John Irons' analysis of the jobs impact of the President's plan, Ross Eisenbrey's take that the plan is mostly on the mark, and Lawrence Mishel's analysis of how effective the plan is.

Dean Baker writes that it is encouraging to hear the President include work-sharing in his jobs agenda.

Over at The New York Times, Paul Krugman writes that the plan is significantly bolder and better than he expected.

Jared Bernstein shares some number crunching on the plan's impact on GDP and jobs.

Finally, the folks at Macroeconomic Advisers LLC blog that the plan will be a significant boost to GDP and employment.

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